Third Party Royalty Offsets. In the event that during the Royalty Term, Licensee (a) has entered into any agreement with any Third Party to obtain a license to any Patents in the absence of which the composition of matter or utility of a Product would infringe such Patents in the Territory (each, an “Required Third Party Agreement”) and (b) makes royalty payments under such Required Third Party Agreements, [***].
Appears in 3 contracts
Samples: License and Collaboration Agreement (Menlo Therapeutics, Inc.), License and Collaboration Agreement (Menlo Therapeutics, Inc.), License and Collaboration Agreement (Menlo Therapeutics, Inc.)
Third Party Royalty Offsets. In the event that during the Royalty Term, Licensee (a) has entered into any agreement with any Third Party to obtain a license to any Patents in the absence of which the composition of matter or utility of a Product would infringe such Patents in the Territory (each, an “Required Third Party Agreement”) and (b) makes royalty payments under such Required Third Party Agreements, then the royalties due reduced by [***]; provided that, any such reductions shall in no event reduce [***] by more than [***].
Appears in 1 contract
Samples: License and Collaboration Agreement (Menlo Therapeutics, Inc.)
