Common use of Reduction for Third Party Obligations Clause in Contracts

Reduction for Third Party Obligations. 10.10.3.1. In the event that Novartis determines that intellectual property owned or controlled by a Third Party would be infringed or misappropriated by the [***] of any Licensed Product in the Field in the Novartis Territory under this Agreement, Novartis shall have the right to negotiate and acquire rights to such intellectual property through a license or otherwise (including pursuant to any settlement agreement) and to deduct from [***] on such Licensed Product due to Surface with respect to a given Calendar Quarter [***] by Novartis to such Third Party with respect to such Licensed Product, subject to the limitation set forth in Section 10.10.6. [***]

Reduction for Third Party Obligations. 10.10.3.1. In the event that Novartis determines that intellectual property owned or controlled by a Third Party would be infringed or misappropriated by the [...***] of any Licensed Product in the Field in the Novartis Territory under this Agreement...], Novartis shall have the right to negotiate and acquire rights to such intellectual property through a license or otherwise (including pursuant to any settlement agreement) and to deduct from [...***...] on such Licensed Product due to Surface Xencor with respect to a given Calendar Quarter [...***...]% of the [...***...] paid by Novartis to such Third Party with respect to such Licensed Product, subject to the limitation set forth in Section 10.10.610.7.6. [...***...].