Non-Monetary Consideration. In the event Sanofi receives any non-monetary consideration in connection with the sale of a Licensed Product, Sanofi’s payment obligations under this Article 8 shall be based on the fair market value of such other consideration. In such case, Sanofi shall disclose the terms of such arrangement to KaloBios and the Parties shall endeavor in good faith to agree on such fair market value.
Appears in 3 contracts
Sources: Development, Commercialization Collaboration and License Agreement (Kalobios Pharmaceuticals Inc), Development, Commercialization Collaboration and License Agreement (Kalobios Pharmaceuticals Inc), Development, Commercialization Collaboration and License Agreement (Kalobios Pharmaceuticals Inc)