Relevant Year. For the purposes of this Agreement, “Relevant Year” means the financial year of [***], which is January 1st to December 31st as of the Execution Date. If the financial year of [***] changes from time to time during the Term, then the Relevant Year shall be changed from time to time accordingly upon [***] receipt of notice of such change from [***]. However, if [***] and [***] agree in writing that any royalties payable by [***] to [***] with respect to the sale, transfer or other disposal by [***], its Affiliates or sublicensees of Product hereunder may be paid by [***] to [***] and by [***] to [***] on a Calendar Year-by-Calendar Year basis instead of on a [***] financial year-by-[***] financial year basis, then the Relevant Year for the Term shall be January 1st to December 31st upon [***] receipt of notice of such agreement from [***].
Appears in 2 contracts
Sources: Co Development and Collaboration Agreement (Genmab a/S), Co Development and Collaboration Agreement (Genmab a/S)