IDENTIFIED PRODUCTS Sample Clauses
The 'Identified Products' clause defines and specifies the particular goods, services, or items that are covered under the agreement. It typically lists or references the products by name, model number, or other unique identifiers to ensure there is no ambiguity about what is being supplied or purchased. By clearly delineating the scope of products involved, this clause helps prevent disputes over what is included in the contract and ensures both parties have a mutual understanding of their obligations.
IDENTIFIED PRODUCTS. COMPANY shall pay to ▇▇▇▇▇▇▇▇▇ a running royalty of [**] percent ([**]%) of NET SALES of IDENTIFIED PRODUCTS, only when used for approved human therapeutic purposes, by COMPANY, AFFILIATES, SUBLICENSEES, or CORPORATE PARTNERS for a period of [**] years from the date of first commercial sale of such IDENTIFIED PRODUCT, which may extend beyond (iii) the TERM, anywhere in the world, but only if the PATENT RIGHTS under which the IDENTIFIED PRODUCT was identified were exclusive as provided under Section 2.2 at the time of identification of the IDENTIFIED PRODUCT, but such royalty shall be increased by one quarter of a percent to a total of [**] percent ([**]%) of NET SALES of IDENTIFIED PRODUCTS, only when used for approved human therapeutic purposes, if the IDENTIFIED PRODUCT was initially identified using MYC/MAX SCREEN;
IDENTIFIED PRODUCTS. COMPANY shall pay to M.I.T. certain amounts upon achievement by COMPANY or its AFFILIATES or its SUBLICENSEES of certain milestone events with respect to anv IDENTIFIED PRODUCT. [***] $ [***] $ [***] [***] $ [***] $ [***] [***] $ [***] $ [***] [***] $ [***] $ [***] If COMPANY receives a payment constituting SUBLICENSE INCOME that is directly attributable to the occurrence of a Milestone Event or circumstance substantially equivalent to such Milestone Event and COMPANY has paid or is obligated to pay to M.I.T. its due share of such payment under Section 4.1(g) of this Agreement, such payment of SUBLICENSE INCOME shall be fully creditable against the Milestone Payment due to MIT under this Section 4.1(c) such that M.I.T. shall receive either the total value of its due share of SUBLICENSE INCOME only or it’s due share of the Milestone Payment only, whichever is greater, but not the sum of both amounts. MOREOVER, in recognition of the value of the PATENT RIGHTS and the time it takes to bring IDENTIFIED PRODUCTS to market, COMPANY agrees that, unless this AGREEMENT is terminated pursuant to Sections 12.1-12.4 hereunder, the obligation to pay each milestone payment as listed above shall survive the expiration of all PATENT RIGHTS. All amounts due under this Section are non-refundable and non-creditable. The Milestone Payments due under this Section shall be due to M.I.T. within [***] after achievement of each of the milestones.
IDENTIFIED PRODUCTS. COMPANY shall pay to THE PARTIES the amounts below upon achievement by COMPANY or its AFFILIATES or its SUBLICENSEES of certain milestone events as set forth in the table below for each IDENTIFIED PRODUCT. Milestone Column A First Indication for IDENTIFIED PRODUCT Column B Second Indication for IDENTIFIED PRODUCT Initiation of a clinical trial using the LICENSED PRODUCT in combination with an IDENTIFIED PRODUCT $25,000 $12,500 Regulatory approval (NDA/PMA/410(k) or equivalent) of a LICENSED PRODUCT and IDENTIFIED PRODUCT to be used in combination for determining efficacy of IDENTIFIED PRODUCT $50,000 $25,000 First commercial sale of an IDENTIFIED PRODUCT for approved use with a LICENSED PRODUCT $100,000 $50,000 Achievement of cumulative worldwide NET SALES of IDENTIFIED PRODUCT of 50,000,000 $250,000 $125,000 Annual worldwide NET SALES of IDENTIFIED PRODUCT equal to or greater than $50,000,000 (payable each year for 10 years from the date of first commercial sale) $250,000 $250,000 For the convenience of the parties, in recognition of the value of the PATENT RIGHTS, and in the time it takes to bring an IDENTIFIED PRODUCT to market, COMPANY agrees that COMPANY’s obligation to pay the milestone payments in Column A and Column B shall survive expiration or abandonment of all issued patents and filed patent applications within the PATENT RIGHTS as specified in Section 12.6(a); however, these payments shall only be due for **** after first commercial sale of the second IDENTIFIED PRODUCT.
IDENTIFIED PRODUCTS. COMPANY shall pay to ▇▇▇▇▇▇▇▇▇ a running royalty of [**] Percent ([**]%) of NET SALES, whether by COMPANY, AFFILIATE, SUBLICENSEE, or CORPORATE PARTNER, of IDENTIFIED PRODUCTS.
IDENTIFIED PRODUCTS. COMPANY shall pay to THE PARTIES the amounts below upon achievement by COMPANY or its AFFILIATES or its SUBLICENSEES of certain milestone events as set forth in the table below for each IDENTIFIED PRODUCT. Milestone Column A First Indication for IDENTIFIED PRODUCT Column B Second Indication for IDENTIFIED PRODUCT Initiation of a clinical trial using the LICENSED PRODUCT in combination with an IDENTIFIED PRODUCT $**** $**** Regulatory approval (NDA/PMA/410(k) or equivalent) of a LICENSED PRODUCT and IDENTIFIED PRODUCT to be used in combination for determining efficacy of IDENTIFIED PRODUCT $**** $**** First commercial sale of an IDENTIFIED PRODUCT for approved use with a LICENSED PRODUCT $**** $**** Achievement of cumulative worldwide NET SALES of IDENTIFIED PRODUCT of **** $**** $**** Annual worldwide NET SALES of IDENTIFIED PRODUCT equal to or greater than $50,000,000 (payable each year for 10 years from the date of first commercial sale) $**** $**** For the convenience of the parties, in recognition of the value of the PATENT RIGHTS, and in the time it takes to bring an IDENTIFIED PRODUCT to market, COMPANY agrees that COMPANY’s obligation to pay the milestone payments in Column A and Column B shall survive expiration or abandonment of all issued patents and filed patent applications within the PATENT RIGHTS as specified in Section 12.6(a); however, these payments shall only be due for **** after first commercial sale of the second IDENTIFIED PRODUCT.
IDENTIFIED PRODUCTS. The Rational Magic Campaign (2019), The Camlann Campaign (2020)
IDENTIFIED PRODUCTS. As set forth in Section 4.1, ------------------- Crescendo shall fund the Development Costs under ALZA-approved Work Plans for each of the Identified Products during the period from the date on which TDC ceased funding such products through October 31, 1997. On or before October 1, 1997, ALZA shall provide Crescendo with a proposed Work Plan and a lifetime plan for the continued development of each of the Identified Products. On or before October 31, 1997, Crescendo shall notify ALZA in writing of its acceptance (in whole or in part) or rejection (in whole or in part) thereof.
IDENTIFIED PRODUCTS. The Rational Magic Campaign (2019), The Camlann Campaign (2020), Between the, Devil & the Deep (2022)
IDENTIFIED PRODUCTS. NET SALES of IDENTIFIED PRODUCTS by COMPANY, AFFILIATES and SUBLICENSEES: [***]. Running royalties shall be payable for each REPORTING PERIOD and shall be due to ▇▇▇▇▇▇▇▇▇ within [***] days of the end of each REPORTING PERIOD Running royalties for each LICENSED PRODUCT under this Section 4.1(d) shall be due on a country-by-country basis for so long as the manufacture, use or sale of such LICENSED PRODUCT in such country infringes a VALID CLAIM of the PATENT RIGHTS. Running royalties for each IDENTIFIED PRODUCT under this Section 4.1(d) shall be due for a period extending ten (10) years from the date of the first sale for consumption by an end user patient of each said IDENTIFIED PRODUCT on a country by country basis. The Parties expressly agree that such a payment period is not an extension of the PATENT RIGHTS beyond their term, but rather is a period determined for the convenience of the Parties in recognition of the value of the PATENT RIGHTS in discovering IDENTIFIED PRODUCTS and as appropriate compensation for the rights granted herein. Royalties on IDENTIFIED PRODUCTS shall be owed to ▇▇▇▇▇▇▇▇▇ at the royalty rate and for the duration set forth above in this Section 4.1(d) based on NET SALES of the IDENTIFIED PRODUCT whether such NET SALES are by COMPANY, AFFILIATES, SUBLICENSEES or any other third party transferee or assignee.