Reversion Royalty definition

Reversion Royalty has the meaning set forth in Section 15.5(a)(i)(B).
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Reversion Royalty means the Seller’s right, as contained in Section 2.1(d) of the Second Agreement, to receive twenty-five percent (25%) of the royalties upon satisfaction of the Fixed Amount and regulatory approval of VX-661 Drug Product, or VX-809 Drug Product for marketing and distribution for the treatment of cystic fibrosis in the United States.
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Examples of Reversion Royalty in a sentence

  • Seller shall provide Purchaser with notice of any Approval and when the Reversion Royalty interest returns to Seller.

  • Notwithstanding the foregoing, in no event will the total amount of the reversion royalty payments under this Section 14.9.2(b) (Reversion Royalty) exceed [***].

  • Licensor will pay to ▇▇▇▇▇▇▇ royalties on Net Sales of each Reverted Product at the applicable Reversion Royalty Rate (where references to “▇▇▇▇▇▇▇” in the definition of Net Sales will be replaced with “Licensor”).

  • Notwithstanding anything herein to the contrary, any Reversion Royalty Dispute shall be submitted to and finally resolved by this Section 13.6 (i.e., “baseball-style” arbitration).

  • The foregoing “baseball-style” arbitration shall be the exclusive remedy of each Party if the Parties cannot agree on a Reversion Royalty Dispute.

  • If the Parties cannot agree on an arbitrator within fifteen (15) Business Days after referral of the Reversion Royalty Dispute, the arbitrator shall be appointed by the AAA in accordance with its rules.

  • If [***], Nanobiotix will pay to ▇▇▇▇▇▇▇ royalties on Net Sales of each Reverted Product at the Reversion Royalty Rate (where references to “▇▇▇▇▇▇▇” in the definition of 102 Net Sales will be replaced with “Nanobiotix”).

  • For the avoidance of doubt, if aggregate Net Sales of Reversion Products meet or exceed the applicable Net Sales Reversion Threshold in a given Calendar Year, Blueprint will pay Clementia the applicable Reversion Royalty (A) [***] and (B) [***]; provided, however, that Blueprint will have no obligation to pay an applicable Reversion Royalty if aggregate payments of Reversion Royalties for Reversion Products equal the amount set forth in Table 11.6.4(n)(i) (the “Reversion Royalty Cap”).

  • If the Parties are unable to agree on the applicable Reversion Royalty within [***] days after the effective date of termination, then either Party may refer such matter for resolution pursuant to Schedule 1.204.

  • Notwithstanding the foregoing, the Parties agree that a Reversion Royalty Dispute shall be resolved by arbitration administered by the International Centre for Dispute Resolution in accordance with its International Arbitration Rules and the Final Offer Supplementary Arbitration Rules, and the number of arbitrators in such arbitration shall be one (1).