Maximum Deduction. Notwithstanding anything to the contrary herein, under no circumstances shall the combined effect of all reductions to the Royalties permitted under Section 8.1.1 and Section 8.1.2, on a country-by-country and Exclusive Product-by-Exclusive Product basis, reduce the effective Royalties payable by SGEN to PIRS under this Agreement for any Calendar Quarter below [***] percent ([***]%) of the Royalties that would otherwise be payable pursuant to Section 7.9, as applicable, for such Exclusive Product in such country.
Appears in 3 contracts
Sources: License and Collaboration Agreement (Pieris Pharmaceuticals, Inc.), License and Collaboration Agreement (Pieris Pharmaceuticals, Inc.), License and Collaboration Agreement (Pieris Pharmaceuticals, Inc.)