Deduction Cap definition
Examples of Deduction Cap in a sentence
In no event shall the amount of royalties payable to Roche for a given Calendar Year pursuant to Section 10.4 become reduced by more than [***] percent ([***]%) of the royalty otherwise due to Roche under Section 10.4 (“Deduction Cap”) on account of such deduction, and GBT shall have the right to carry forward to subsequent Calendar Quarters any amounts in could not deduct on account of the Deduction Cap.
For clarity, the Deduction Cap shall not apply to deductions made under clause (i) of this Section.
Notwithstanding anything set forth in any other provision of this Lease or this Tenant Work Letter to the contrary, all costs of Tenant Minor Changes and all other items the cost of which is identified in this Lease or Tenant Work Letter to be deducted from the Tenant Improvement Allowance, shall be deducted solely from the Tenant Improvement Allowance and such costs in the aggregate shall not exceed the amount of the Tenant Improvement Allowance and/or the Deduction Cap, to the extent applicable.
The aggregate cost estimate of all Tenant Minor Changes deducted from the Tenant Improvement Allowance shall not exceed a total of Fifteen and 00/100 Dollars ($15.00) per rentable square foot of the Premises (the "Deduction Cap"), and Landlord shall disapprove any proposed Tenant Minor Change in excess of such Deduction Cap.