Label Extensions Clause Samples
The Label Extensions clause defines the terms under which the duration or scope of a label agreement can be extended beyond its original period. Typically, this clause outlines the conditions that must be met for an extension to occur, such as mutual agreement, notice requirements, or automatic renewal provisions. For example, it may specify that the label has the option to extend the contract for additional years if certain sales targets are met. The core function of this clause is to provide a clear mechanism for continuing the business relationship, thereby offering both parties predictability and flexibility regarding the agreement's duration.
POPULAR SAMPLE Copied 2 times
Label Extensions. If a Party wishes to extend the label or approved indication of any Product Developed hereunder to other indications (including any outside of the Field), it may so notify the JSC. In such event, the JSC shall discuss such label extension in good faith. If the JSC agrees by unanimous consent that Development should be undertaken to support the label extension, the Parties shall include the Development activities required to be undertaken to support such label extension in the Research and Development Plan and, if appropriate, amend the Field accordingly to cover such extension. Any external cost or expense (other than Capex Cost) incurred by either Party (or its Affiliates) solely and specifically in connection with such Development activities [***].