LTS Agreement Sample Clauses
An LTS (Long-Term Support) Agreement is a contractual provision that outlines the terms under which a provider will continue to support and maintain a product or service for an extended period, typically beyond the standard support lifecycle. This clause specifies the duration of support, the types of updates or fixes that will be provided, and any associated costs or conditions for receiving long-term support. Its core practical function is to ensure that customers receive ongoing maintenance and security updates, thereby reducing operational risks and providing stability for mission-critical systems.
LTS Agreement. [***]CERTAIN INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. This COMMERCIAL SUPPLY AND LICENSE AGREEMENT (this “Agreement”), is entered into as of day of January, 2007 (“Effective Date”) by and between NeurogesX Inc., a California corporation with its principal place of business at San ▇▇▇▇▇▇ Business Park, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, ▇▇▇ (“NeurogesX”) and LTS ▇▇▇▇▇▇▇ Therapie-Systeme AG, a company existing under the laws of Germany and having its head office at ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇, ▇-▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ (“LTS”). Each of NeurogesX and LTS shall be a “Party,” and together shall be referred to as the “Parties.”
LTS Agreement. [***] the royalties at the rate of one point sixty-seven percent (1.67 %) accruing on sales of the Existing Product by Astellas and its Affiliates and Sublicensees under Section 5.2(a) of the LTS Agreement, as of the Effective Date [***] after the end of each calendar half-year (i.e. after 30 June and 31 December of each calendar year). For the avoidance of doubt, the LTS Royalties shall [***] such that they are [***] to the extent that NGX has an obligation to account to LTS for such royalties under the LTS Agreement.