Restrictions on Payments. The obligation to pay royalties to KOSAN under this AGREEMENT shall be waived and excused to the extent that applicable statutes, laws, codes or government regulations in a particular country prevent such royalty payments; provided, however, in such event, if legally permissible, LICENSEE shall pay the royalties owed to KOSAN by depositing such amounts, to the credit and account of KOSAN or its nominee in any commercial bank or trust company of KOSAN's choice located in that country, prompt notice of which shall be given by ORTHO to KOSAN.
Appears in 4 contracts
Sources: Research and License Agreement (Kosan Biosciences Inc), Research and License Agreement (Kosan Biosciences Inc), Research and License Agreement (Kosan Biosciences Inc)
Restrictions on Payments. The obligation to pay royalties to KOSAN under this AGREEMENT shall be waived and excused to the extent that applicable statutes, laws, codes or government regulations in a particular country prevent such royalty payments; provided, however, in such event, if legally permissible, LICENSEE shall pay the royalties owed to KOSAN by depositing such amounts, to the credit and account of KOSAN or its nominee in any commercial bank or trust company of KOSAN's ’s choice located in that country, prompt notice of which shall be given by ORTHO to KOSAN.
Appears in 1 contract
Sources: Research and License Agreement (Kosan Biosciences Inc)