Maximum Reduction Sample Clauses
The Maximum Reduction clause sets a cap on the amount by which a party’s obligations, payments, or liabilities can be reduced under the contract. In practice, this means that even if certain events or conditions would otherwise allow for a greater reduction—such as offsets, deductions, or credits—the reduction cannot exceed the specified maximum limit. This clause ensures predictability and protects parties from excessive or unforeseen reductions, thereby managing risk and maintaining financial stability within the contractual relationship.
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Maximum Reduction. The maximum aggregate reduction with respect to each applicable Licensed Product during any Calendar Quarter pursuant to this Section 3.4(f) shall be capped at [***] of the amount of the royalty that would be payable under Section 3.4(a) prior to any such reductions.
Maximum Reduction. The maximum aggregate reduction with respect to the royalty rate for a Product in any calendar quarter during the applicable Royalty Term in any country pursuant to Sections 3.1.5 (Royalty Reduction), 3.1.6 (Biosimilar Competition) and 3.1.7 (Third-Party Intellectual Property) shall be [***].
Maximum Reduction. The annual total of the royalty rates due to MedImmune set out in (i) to (iii) above will not be reduced in aggregate by more than [***].
Maximum Reduction. The royalty owed to Company for sales of a Licensed Product or Royalty Bearing NGP, as applicable, shall not be reduced, *** by more than ***, provided that ***.
Maximum Reduction. Notwithstanding anything to the contrary, the maximum aggregate reduction with respect to any Product in any Calendar Quarter during the applicable Royalty Term in any country pursuant to Section 3.3.2 (Royalty Reductions) and Section 3.3.3 (Third Party Royalties) shall be [*] (i.e., [*]).
Maximum Reduction. Notwithstanding anything to the contrary, the reductions with respect to any Product in any Calendar Quarter during the applicable Royalty Term in any country pursuant to Section 3.2.2 (Royalty Reductions) and Section 3.2.3 (Third Party Royalties) shall not reduce the royalty rate provided in Section 3.2.1 by more than [***] in the aggregate (i.e., the royalty rate shall be no lower than [***]).
Maximum Reduction. The maximum aggregate reduction in the royalty rate otherwise payable by ▇▇▇▇▇ to ONYX under Section 3.2.1 (Royalty Rate; Royalty Term) with respect to any Royalty-Bearing Product in any country during a given calendar quarter during the applicable Royalty Term pursuant to Sections 3.2.3 (No Valid Claim) and 3.2.4 (Third-Party Intellectual Property) shall be ***. *** = INDICATES MATERIAL THAT WAS OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT WAS REQUESTED. ALL SUCH OMITTED MATERIAL WAS FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
Maximum Reduction. Notwithstanding Sections 3.5.1, 3.5.2 and 3.5.3, in no event shall any royalty deduction or royalty rate reduction, individually or in combination, decrease the aggregate royalties paid to FIBROGEN with respect to the Net Sales of any Product in any country or region in any Calendar Quarter [*] that would have been payable in such Calendar Quarter under Section 3.4.
Maximum Reduction. Notwithstanding anything in Section 4.4(a) or 4.4(b) above to the contrary, in no event shall the aggregate, worldwide royalties due to Licensor for Net Sales of any Licensed Product in a Calendar Year be reduced to an amount less than the amount that would be calculated using the following minimum royalty percentages: For that portion of Net Sales of a Licensed Product in such calendar year on a Licensed Product-by-Licensed Product basis that is: Minimum Royalty Percentage Less than or equal to [***] [***] Greater than [***] [***]
Maximum Reduction. In no event shall the cumulative reduction of Net Sales Payment rates under Sections 7.6.1 and 7.6.2 reduce the Net Sales Payment payable to Company under Section 7.4 for any Product in any country during any Calendar Quarter below [***]. In the event that Merck is not able to deduct the full amount of the permitted deduction from the Net Sales Payment amounts due to Company due to the [***] maximum reduction, Company shall be entitled to deduct any undeducted excess amount from subsequent Net Sales Payment amounts owed to Company (subject always to Company receiving a minimum of [***] of the amount owed).