Disposal of Inventory. In the event of termination, Licensor shall be given right of first refusal to purchase any reagents and/or stocks of any raw materials, as required to have been purchased from the Licensor pursuant to the terms herein defined, as the Licensee and/or any Related Company, Affiliate or -------------------------------------------------------------------------------- 6 sublicensee of the Licensee may have in its possession. If the Licensor does not buy said inventories, the Licensor will give to the Licensee or Related Company, Affiliate or sublicensee the right to continue selling or using the stock on hand and raw materials until these stocks on hand are exhausted.
Disposal of Inventory. Upon the expiration or termination of this Agreement, Licensee may not retain the Licensed Products embodying the Data Stream Information. However, Licensee shall have the right to dispose of any existing inventory of Licensed Products for a period of one (1) year thereafter provided (i) termination is not due to Licensee’s failure to comply with Section 4.1 of this Agreement; and (ii) Licensee notifies SOA in writing, at least thirty (30) days prior to expiration or, in the event of termination, ten (10) days after termination is effective, of the quantity and description of the Licensed Products then in inventory which Licensee desires to dispose of ("Disposal Inventory"). SOA shall have the right, upon reasonable advance notice, to conduct a physical inventory or undertake other reasonable means to verify the accuracy of the Disposal Inventory information furnished by Licensee.
Disposal of Inventory. If, on the termination date of this Agreement, Licensee shall be in possession of or own Verified Products utilizing the Trademarks, it shall have the right, for a period of no greater than sixty (60) days after such termination, to sell such products that are then in Licensee’s inventory, meaning Verified Products then owned by it or in its possession (the “Inventory”). In such event, the license granted to Licensee hereunder shall be deemed to have been extended solely for such reasonable period of time as will enable Licensee to dispose of its Inventory in the ordinary course of business, provided that in no event will such period extend beyond sixty (60) days from the date of the termination date of this Agreement. Upon the earlier of (a) the disposition of the last of the Inventory, or (b) sixty (60) days from the date of such termination date, Licensee shall promptly discontinue the use of the Trademarks, destroy any remaining Inventory, and use reasonable efforts to destroy all advertising, marketing materials, signs, labels, or other materials in its possession which incorporate the use of the Trademarks. The provisions of this Section 4(c)(ii) shall not apply if this Agreement is terminated pursuant to Section 4(b) hereof, in which case Licensee shall have the right, for a period of no more than thirty (30) days after such termination, to sell the Inventory, and upon the earlier of (x) the disposition of the last of the Inventory, or (y) thirty (30) days from such termination date, Licensee shall promptly discontinue the use of the Trademarks, destroy any remaining Inventory, and use reasonable efforts to destroy all advertising materials, signs, labels, or other materials in its possession and/or the public domain which incorporate the use of the Trademarks.
Disposal of Inventory. Upon expiration or termination, all inventory not disposed of in accordance with this Paragraph shall be destroyed; however, such inventory may be sold provided that 1) all Property (and all markings of any kind associated with LICENSOR) are removed subject to inspection and approval of LICENSOR; and 2) the public is not advised of any association of the inventory with the Property or LICENSOR.
Disposal of Inventory. After expiration or termination of this Agreement, Licensee shall have no further right to manufacture Licensed Articles or other products utilizing the Licensed Indicia, but may continue to distribute its remaining inventory of Licensed Articles in existence at the time of expiration or termination for a period of ninety (90) days, provided all statements (including Final Statement) and payments then due have been delivered and that during the disposal period Licensee delivers all statements and payments due in accordance with Paragraph 7 and complies with all other terms and conditions of this Agreement. Licensee may request an additional period of ninety (90) days to dispose of inventory if necessary. Said request will not be unreasonably denied. Notwithstanding the foregoing, Licensee shall not manufacture, sell or distribute any Licensed Articles after the expiration or termination of this Agreement because of (a) departure of Licensee from the quality and style approved by PGA TOUR Licensing under this Agreement; (b) failure of Licensee to obtain product or design approval; or (c) a default under Paragraph 16.
Disposal of Inventory. Within twelve (12) months of the expiration or termination of this Agreement. LICENSEE shall delete all COLT Trademarks from all Product inventory, or to the extent that such deletion is impractical, shall destroy all inventory of Product, that was on hand or in process at the time of expiration or termination, and shall destroy all advertising, promotional and display materials using, and all molds, plates, engravings, and/or mechanicals used to affix, the COLT Trademarks and the Trade Name. LICENSEE shall promptly furnish COLT with a certificate of destruction executed by LICENSEE to certify the destruction of same.
Disposal of Inventory. At the end of the Term (or upon a Program’s earlier expiration or Withdrawal) Licensor, in its sole discretion, may (i) request, and Licensee shall immediately comply with, either (A) the return, at Licensee’s cost, of all Inventory to Licensor or to Licensor’s designee, or (B) the destruction, at Licensee’s cost, of all Inventory and Licensee shall submit an officer’s certificate attesting to such destruction, or (ii) Licensor shall agree to allow Licensee to sell off Inventory according to terms to be negotiated in good faith and agreed upon by the parties.
Disposal of Inventory. Upon the termination of any license granted herein, in whole or as to any Product for any reason other than a failure to cure a material breach of the Agreement by deCODE, deCODE shall have the right for one year or such longer period as the Parties may reasonably agree to dispose of all Product or substantially completed then on hand to which such termination applies, and royalties shall be paid to Institution with respect to such Product as though this Agreement had not terminated.
Disposal of Inventory. After the Termination Date, Licensee shall have no further right to manufacture the Products or other products utilizing the Licensed Patents or the Licensed Technology, but may continue to distribute its remaining inventory of Products in existence at the time of expiration or termination for a period of ninety (90) days, provided all statements (including Final Statement) and payments then due have been delivered and that during the disposal period Licensee deliver all statements and payments due in accordance with Sections 6 and comply with all other terms and conditions of this Agreement. Licensors shall have the option for thirty (30) days (the "Option Period"), to purchase all remaining stock after said ninety (90) day period at a price which shall equal Licensee's actual Cost of Goods Sold. During the Option Period, Licensee shall not sell its remaining inventory of Products in liquidating its inventory at a price that is less than that charged by Licensee to its normal distribution network during the Term. In the event Licensors elect not to purchase Licensee's remaining inventory, Licensee will destroy any remaining inventory within thirty (30) days.
Disposal of Inventory. Upon termination of this Agreement for any reason Pharmacia shall be free to sell its remaining and then existing inventory of Collaboration Product, together with any additional quantities of Collaboration Product which Pharmacia is obligated to purchase from Nastech under the Supply Agreement; provided, however, that Pharmacia shall be obligated to pay Nastech the royalties applicable to said subsequent sales in accordance with the terms and conditions set forth in this Agreement.
