Common use of New Product Notice Clause in Contracts

New Product Notice. In the event Juice Plus+ wishes to manufacture a New Product for distribution in the Territory, Juice Plus+ shall provide a written notice (“New Product Notice”) to Seller. The New Product Notice will contain formulation and product specifications and any bona fide price, manufacturing, delivery and other material terms agreed to or offered in writing by any Third Party manufacturer. Seller shall have a period of sixty (60) days from the date of receipt of the New Product Notice to determine whether to exercise its right of first refusal. If Seller exercises its right of first refusal, it must have the ability to produce the New Product in the quality, quantity, and at costs competitive with those specified in the New Product Notice. If Seller does not exercise its right of first refusal, Juice Plus+ shall have the right to have the New Product produced by a Third Party manufacturer on the terms specified in the New Product Notice. If Juice Plus+ is unable to have the New Product manufactured upon the terms set forth in the New Product Notice, Juice Plus+ shall be required to resubmit a New Product Notice to Seller and Seller shall have an additional sixty (60) days from the date of resubmittal to exercise its right of first refusal. If Seller agrees to produce any New Products for Juice Plus+ pursuant to this Section 14, such New Products shall be listed on subsequent written memorandums signed by the Parties and expressly referring to this Agreement, and shall thereafter fall within the definition of a Product subject to terms of this Agreement.

New Product Notice. In the event Juice Plus+ NSA wishes to manufacture a New Product for distribution in the Territory, Juice Plus+ NSA shall provide a written notice (“New Product Notice”) to Seller. The New Product Notice will contain formulation and product specifications and any bona fide price, manufacturing, delivery and other material terms agreed to or offered in writing by any Third Party third party manufacturer. Seller shall have a period of sixty thirty (6030) days from the date of receipt of the New Product Notice to determine whether or not to exercise its right of first refusal. If Seller exercises its right of first refusal, it must have the ability EXECUTION COPY to produce the New Product in the quality, quantity, and at costs competitive with those specified in the New Product Notice. If Seller does not exercise its right of first refusal, Juice Plus+ NSA shall have the right to have the New Product produced by a Third Party third party manufacturer on the terms specified in the New Product Notice. If Juice Plus+ NSA is unable to have the New Product manufactured upon the terms set forth in the New Product Notice, Juice Plus+ NSA shall be required to resubmit a New Product Notice to Seller and Seller shall have an additional sixty thirty (6030) days from the date of resubmittal to exercise its right of first refusal. If Seller agrees is granted the right to produce any New Products for Juice Plus+ NSA pursuant to this Section 1413, such New Products shall be listed on subsequent written memorandums signed by the Parties and expressly referring to this Agreement, and shall thereafter fall within the definition of a Product subject to terms of this Agreement.

New Product Notice. In the event Juice Plus+ NSA wishes to manufacture a New Product for distribution in the Territory, Juice Plus+ NSA shall provide a written notice (“New Product Notice”) to Seller. The New Product Notice will contain formulation and product specifications and any bona fide price, manufacturing, delivery and other material terms agreed to or offered in writing by any Third Party third party manufacturer. Seller shall have a period of sixty thirty (6030) days from the date of receipt of the New Product Notice to determine whether or not to exercise its right of first refusal. If Seller exercises its right of first refusal, it must have the ability to produce the New Product in the quality, quantity, and at costs competitive with those specified in the New Product Notice. If Seller does not exercise its right of first refusal, Juice Plus+ NSA shall have the right to have the New Product produced by a Third Party third party manufacturer on the terms specified in the New Product Notice. If Juice Plus+ NSA is unable to have the New Product manufactured upon the terms set forth in the New Product Notice, Juice Plus+ NSA shall be required to resubmit a New Product Notice to Seller and Seller shall have an additional sixty thirty (6030) days from the date of resubmittal to exercise its right of first refusal. If Seller agrees is granted the right to produce any New Products for Juice Plus+ NSA pursuant to this Section 1413, such New Products shall be listed on subsequent written memorandums signed by the Parties and expressly referring to this Agreement, and shall thereafter fall within the definition of a Product subject to terms of this Agreement.