Royalty Reduction. If at any time during the Royalty Term for a given Licensed Product in a given country, there is no Valid Claim Covering such Licensed Product in such country, then the royalty rate payable by Tarsus pursuant to Section 6.4(a) shall be reduced to [***] percent of the rates set forth in Section 6.4(a).
Appears in 3 contracts
Sources: License Agreement (Tarsus Pharmaceuticals, Inc.), License Agreement (Tarsus Pharmaceuticals, Inc.), License Agreement (Tarsus Pharmaceuticals, Inc.)
Royalty Reduction. If at any time during the Royalty Term for a given Licensed Product in a given country, there is no Valid Claim Covering such Licensed Product in such country, then the royalty rate payable by Tarsus pursuant to Section 6.4(a) (or established pursuant to Section 6.4(b)) shall be reduced to [***] percent of the rates set forth in Section 6.4(a) (or Section 6.4(b), as the case may be).
Appears in 2 contracts
Sources: License Agreement (Tarsus Pharmaceuticals, Inc.), License Agreement (Tarsus Pharmaceuticals, Inc.)
Royalty Reduction. If at any time during the Royalty Term for a given Licensed Product in a given country, there is no Valid Claim Covering such Licensed Product in such country, then the royalty rate payable by Tarsus pursuant to Section 6.4(a) (or established pursuant to Section 6.4(b)) shall be reduced to [***] ]percent of the rates set forth in Section 6.4(a) (or Section 6.4(b), as the case may be).
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Royalty Reduction. If at any time during the Royalty Term for a given Licensed Product in a given country, there is no Valid Claim Covering such Licensed Product in such country, then the royalty rate payable by Tarsus pursuant to Section 6.4(a6.5(a) shall be reduced to [***] percent of the rates set forth in Section 6.4(a)6.5(a) for such Licensed Product in such country.β
Appears in 1 contract