Standby Rights. Auxilium will be entitled to seek from the Back-Up Supplier the greater of (a) 25% its requirements and (b) that quantity of Product that BTC is unable to provide, for a period of one (1) year following the occurrence of any of the events set forth in (A), (B) or (C) below (the “Standby Rights”). In the event that Auxilium exercises its Standby Rights, the amount of Product that Auxilium is obligated to source from BTC pursuant to the Supply Agreement shall be reduced by such quantity for such one (1) year period.
Appears in 4 contracts
Samples: Development and License Agreement (Auxilium Pharmaceuticals Inc), Development and License Agreement (Auxilium Pharmaceuticals Inc), Development, Commercialization and Supply Agreement (Auxilium Pharmaceuticals Inc)
Standby Rights. Auxilium will be entitled to seek from the Back-Up Supplier the greater of (a) 25% X% its requirements and (b) that quantity of Product that BTC is unable to provide, for a period of one (1) year XX following the occurrence of any of the events set forth in (A), (B) or (C) below (the “"Standby Rights”"). In the event that Auxilium exercises its Standby Rights, the amount of Product that Auxilium is obligated to source from BTC pursuant to the Supply Agreement shall be reduced by such quantity for such one (1) year period.
Appears in 1 contract
Samples: Development and License Agreement (Biospecifics Technologies Corp)
