Gross Profit Split Term Sample Clauses

Gross Profit Split Term. On a country-by-country and Licensed Product-by-Licensed Product basis, Bausch Health shall make the payments under Section 7.3(a) on the Gross Profit of such Licensed Product in such country in the Licensed Territory during the period of time beginning on the First Commercial Sale of such Licensed Product in such country in the Licensed Territory and ending on the later of (i) the date of expiration of the last Valid Claim of the Licensed Patent Rights that Covers such Licensed Product in such country in the Licensed Territory, and (ii) ten (10) years after First Commercial Sale of such Licensed Product in such country in the Licensed Territory (the “Gross Profit Split Term”). Notwithstanding the foregoing, in the event that the Gross Profit Split Term continues in a country solely due to Section 7.3(c)(ii) (i.e., in such country the Licensed Product is no longer Covered by a Valid Claim of the Licensed Patent Rights), then the portion of the Gross Profit in such country for such Licensed Product payable by Bausch Health to Eyenovia under Section 7.3(a) shall be reduced by [ ] ([ ]%). Upon the expiration of the Gross Profit Split Term with respect to a Licensed Product in a country in the Licensed Territory, the licenses granted by Eyenovia to Bausch Health pursuant to Section 2.1 shall be deemed to be fully paid-up, perpetual, and irrevocable with respect to such Licensed Product in such country.
Sample 1
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Related to Gross Profit Split Term

  • Annual Accounting Period The annual accounting period of the Company shall be its taxable year. The Company’s taxable year shall be selected by the Member, subject to the requirements and limitations of the Code.

  • CONTRACT YEAR The first Contract Year is the period of time ending on the first contract anniversary. Subsequent Contract Years are the annual periods between contract anniversaries.

  • Calendar Year The term “

  • Minimum Revenue Borrower and its Subsidiaries shall have annual Revenue from sales of the Product (for each respective calendar year, the “Minimum Required Revenue”):

  • Annual Base Compensation The Company agrees to pay the Executive during the term of this Agreement a salary at the rate of $335,000 per annum, payable in cash not less frequently than monthly.

  • Annual Base Salary During the Term, the Executive shall receive a base salary at an initial rate of $550,000 per annum, which shall be paid in accordance with the customary payroll practices of the Company, subject to review annually for possible increase, but not decrease, in the Board’s discretion (the “Annual Base Salary”).

  • Gross Sales Notwithstanding anything in the Lease to the contrary the definition of Gross Sales shall be as follows:

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Quarterly Bonus The Employee shall be eligible to be paid a quarterly bonus earned in accordance with the terms set forth on Exhibit 3.2.

  • Minimum Sales 4.1 The minimum volume of sales of the Products that CSR commits to use its best efforts to achieve in the Territory on an annual basis in the first Agreement Year is 60,000 gallons (avg. 5,000 gallons per month). RCAI will review the annual volumes of sales of the Products prior to the beginning of any successive term during which this Agreement may continue and RCAI may change and adjust such minimums as it, in its sole judgment, sees fit.

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