Royalty Minimum. Except as provided in [***] or Section 15.6], in no event will the applicable royalty otherwise due to Pliant in a Calendar Quarter be reduced by more than [***] percent ([***]%) relative to the rates set forth in Section 10.5 due to the deductions contemplated hereunder; provided, that, in each of the foregoing circumstances, any such reduction not fully taken as a result of the application of this Section 10.8 may be carried forward and applied against future royalties otherwise owed.
Appears in 2 contracts
Sources: Collaboration and License Agreement (Pliant Therapeutics, Inc.), Collaboration and License Agreement (Pliant Therapeutics, Inc.)