Application of Credits. Any credits against Running Royalties permitted under this Agreement may be applied by Tepha, cumulatively, up to * the Running Royalties otherwise due in the respective quarterly accounting period; provided, Tepha may carry over unused credits to subsequent quarterly accounting periods. Notwithstanding the applicability of credits under one or more Paragraphs of this Agreement, the minimum Running Royalties due from Tepha shall be * of the Running Royalties otherwise payable, subject to the maximum set forth in Paragraph 3.2.
Appears in 2 contracts
Sources: License Agreement (Metabolix, Inc.), License Agreement (Metabolix, Inc.)