ADVANCED PRODUCTS Clause Samples
The "Advanced Products" clause defines the terms and conditions under which new or innovative products, technologies, or services are included within the scope of an agreement. It typically outlines how such products are identified, the process for their approval or integration, and any special pricing, support, or intellectual property considerations that may apply. By addressing the treatment of advanced products, this clause ensures that both parties have a clear understanding of how future developments are managed, reducing uncertainty and facilitating the adoption of new solutions as they become available.
ADVANCED PRODUCTS. For Products which are not finished formulations, mixtures or compositions of a Factor (that is, for Products which could not have been developed by a Party but for the application of substantial advanced technologies developed by that Party (e.g., WITHOUT LIMITATION, Products which are antibodies, antisense molecules or ribozymes to, a Factor)), the royalty payable by that developing Party on Net Sales of that Product shall be reduced to reflect the fair market value contribution of that advanced technology to the Product, as determined by mutual agreement of the Parties. In the event that the Parties are unable to calculate or agree Upon the fair market value contribution of the advanced technology to the Product, then the royalty payable by the developing Party on Net Sales of that Product shall be reduced by fifty percent (50%)-
ADVANCED PRODUCTS. For GDF-8 Licensed Products which are not finished formulations, mixtures or compositions of GDF-8 (that is, for GDF-8 Licensed Products which could not have been developed by a Party but for the application of substantial advanced technologies developed by that Party (including, without limitation, GDF-8 Licensed Products which are antibodies, antisense molecules or ribozymes to, GDF-8), the royalty payable hereunder by that developing Party on Net Sales of that GDF-8 Licensed Product shall be reduced to reflect the fair market value contribution of that advanced technology to the GDF-8 Licensed Product, as determined by mutual agreement of the Parties. In the event that the Parties are unable to calculate or agree upon the fair market value contribution of the advanced technology to the GDF-8 Licensed Product, then the royalty payable by the developing Party on Net Sales of that GDF-8 Licensed Product shall be reduced by fifty percent (50%).
ADVANCED PRODUCTS. For Products which are not finished formulations, mixtures or compositions of a Factor (that is, for Products which could not have been developed by a Party but for the application of substantial advanced technologies developed by that Party (e.g., without limitation, Products which are antibodies, antisense molecules or ribozymes to, a Factor)), the royalty payable by that developing Party on Net Sales of that Product shall be reduced to reflect the fair market value contribution of that advanced technology to the Product, as determined by mutual agreement of the Parties. In the event that the Parties are unable to calculate or agree Upon the fair market value contribution of the advanced technology to the Product, then the royalty payable by the developing Party on Net Sales of that Product shall be reduced by fifty percent (50%)-