Common use of Launch During Exclusivity Period Clause in Contracts

Launch During Exclusivity Period. Subject to Sections 6.2(a)(iii) and 6.2(a)(iv), in the event that, during the Exclusivity Period, ▇▇▇▇▇▇▇▇ Launches a ▇▇▇▇▇▇▇▇ Joint Independent Product or an Other Independent Product in the Field, within thirty (30) days of such Launch, ▇▇▇▇▇▇▇▇ shall pay to Palomar on account of the Launch of such product, five million dollars (US $5,000,000). In the event that, subsequent to such Launch, ▇▇▇▇▇▇▇▇ terminates the Exclusivity Period pursuant to Section 10.2, within thirty (30) days of the end of the Exclusivity Period, ▇▇▇▇▇▇▇▇ shall pay to Palomar on account of the Launch of such product, an additional five million dollars (US $5,000,000). Such payments shall be non-creditable and non-refundable and there shall be no right of set-off with respect thereto.

Launch During Exclusivity Period. Subject to Sections 6.2(a)(iii) and 6.2(a)(iv), in the event that, during the Exclusivity Period, ▇G▇▇▇▇▇▇▇ Launches a ▇G▇▇▇▇▇▇▇ Joint Independent Product or an Other Independent Product in the Field, within thirty (30) days of such Launch, ▇G▇▇▇▇▇▇▇ shall pay to Palomar on account of the Launch of such product, five million dollars (US $5,000,000). In the event that, subsequent to such Launch, ▇G▇▇▇▇▇▇▇ terminates the Exclusivity Period pursuant to Section 10.2, within thirty (30) days of the end of the Exclusivity Period, ▇G▇▇▇▇▇▇▇ shall pay to Palomar on account of the Launch of such product, an additional five million dollars (US $5,000,000). Such payments shall be non-creditable and non-refundable and there shall be no right of set-off with respect thereto.