Acquisition of Competing Product. In the event that either Party acquires a Competing Product in the Territory as a result of a merger with, or acquisition of control over the business or assets of a Third Party, or is acquired by a Third Party who controls such a Competing Product, that party (a) must give prompt written notice of the date of closing of such transaction, and (b) shall have a period of eighteen (18) months following the closing of such merger, consolidation or acquisition to divest, or have divested, the Competing Product in the Territory before the other Party may exercise its termination rights stipulated for in Section 11.1 of this Agreement.
Appears in 4 contracts
Samples: License, Supply, Marketing, Distribution and Collaboration Agreement (Osmotica Pharmaceuticals PLC), License, Supply, Marketing, Distribution and Collaboration Agreement (Osmotica Pharmaceuticals LTD), License, Supply, Marketing, Distribution and Collaboration Agreement (Osmotica Pharmaceuticals LTD)
