TC Term Sample Clauses

TC Term. BMS’s obligation to pay Net Sales Compensation on Net Sales at the rates set out in Section 8.5(a) on a Product-by-Product and country-by-country basis shall continue until the latest of: (i) the [***] of the First Commercial Sale of such Product in such country, (ii) the expiration in such country of the last Valid Claim of the last-to-expire Product Specific Patent that would be infringed by the sale of such Product in such country absent a license with respect to such Product Specific Patent and (iii) the expiration of applicable regulatory exclusivity as to such Product in such country (the “Initial TC Term”), provided however, that following the Initial TC Term for a given country, BMS shall continue to pay BN Total Compensation equal to [***] of [***] percent ([***]%) of Net Sales for Products that BN supplies to BMS (or a Related Party) pursuant to the Supply Agreement, plus (y) the [***]. “TC Term” means the Initial TC Term plus any applicable extension as described in the preceding sentence. Upon the expiration of the TC Term with respect to a Product in a given country, BMS shall have a fully paid-up perpetual license under Section 4.1 for the making, using, selling, offering for sale and importing of such Product in such country.
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TC Term. Total Compensation payable by BMS to uniQure under Section 8.5 shall be paid on a Product-by-Product and country-by-country basis until the later of (i) [**] years after the First Commercial Sale of the applicable Product in such country, (ii) [**] in such country where the sale of the applicable Product in the applicable country would [**], (iii) the [**], or (iv) the [**] (such period being the “TC Term” for a particular Product). Notwithstanding anything in this Section 8.5 to the contrary, and subject to Section 8.5(g), the tier percentages in Section 8.5(a)(ii) above used to calculate the Net Sales Compensation payable by BMS on Net Sales of such Product in such country shall be reduced by [**] for the [**]). For clarity, BMS shall [**].
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Related to TC Term

  • Basic Term Subject to earlier termination in accordance with subsection 6(b) below, the exercise period of this option shall expire ten (10) years after the date it is granted.

  • Original Term The weighted average original term for the Receivables is at least 65 months.

  • Initial Term This Agreement shall become effective as of the date first written above (the “Start Date”) and shall continue thereafter throughout the period that ends two (2) years after the Start Date (the “Initial Term”).

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

  • Extension Term The Term of the Lease is hereby extended for sixty (60) months and, therefore, the Term Expiration Date is hereby amended to mean January 14, 2023. The period commencing on January 15, 2018 (the “Extension Term Commencement Date”) and ending on the Term Expiration Date shall be referred to herein as the “Extension Term.”

  • Agreement Term The term “

  • Term of the Lease 4.2.1 The term of the Lease shall be sixty (60) months commencing on the Acceptance date.

  • Option Term This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6.

  • Base Term Commencing on the Expansion Premises Commencement Date, the defined term “Base Term” on page 1 of the Lease is deleted in its entirety and replaced with the following:

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