Common use of Termination After First Commercial Sale of the POI Product Clause in Contracts

Termination After First Commercial Sale of the POI Product. In ---------------------------------------------------------- the event that the First Commercial Sale of the POI Product in the United States occurs on or before December 31, 2005, unless otherwise permitted pursuant to Section 16.3 or 16.4, GSK may not terminate this Agreement with respect to the Adolor Products prior to the earlier of (a) the third anniversary of the First Commercial Sale of the POI Product in the United States and (b) December 31, 2007. Upon nine (9) months prior written notice to Adolor, GSK may terminate this Agreement with respect to all Adolor Products in the United States and/or one or more Major Regions on or after the earlier of (a) the third anniversary of the First Commercial Sale of the POI Product in the United States and (b) December 31, 2007; provided that if GSK terminates the Major Region of Japan it must also terminate the Major Region of Asia-Pacific. For the avoidance of doubt, in the event that GSK exercises its termination right pursuant to this Section 16.5.4, GSK shall retain all of its rights to the GI Products, and remain subject to its obligations, under this Agreement.

Appears in 2 contracts

Samples: Collaboration Agreement (Adolor Corp), Collaboration Agreement (Adolor Corp)

AutoNDA by SimpleDocs

Termination After First Commercial Sale of the POI Product. In ---------------------------------------------------------- the event that the First Commercial Sale of the POI Product in the United States occurs on or before December 31, 2005, unless otherwise permitted pursuant to Section 16.3 or 16.4, GSK may not terminate this the Agreement with respect to the Adolor Products OBD Chronic Product prior to the earlier of (a) the third anniversary of the First Commercial Sale of the POI Product in the United States and (b) December 31, 2007. Upon nine (9) months prior written notice to Adolor, GSK may terminate this Agreement with respect to all Adolor Products the OBD Chronic Product in the United States and/or one or more Major Regions on or after the earlier of (a) the third anniversary of the First Commercial Sale of the POI Product in the United States and (b) December 31, 2007; provided that if GSK terminates the Major Region of Japan it must also terminate the Major Region of Asia-Pacific. For the avoidance of doubt, in the event that GSK exercises its termination right pursuant to this Section 16.5.416.6.4, GSK shall retain all of its rights to the Adolor Products and the GI ProductsProducts other than the **, and remain subject to its obligations, under this Agreement.

Appears in 2 contracts

Samples: Collaboration Agreement (Adolor Corp), Collaboration Agreement (Adolor Corp)

Termination After First Commercial Sale of the POI Product. In ---------------------------------------------------------- the event that the First Commercial Sale of the POI Product in the United States occurs on or before December 31, 2005**, unless otherwise permitted pursuant to Section 16.3 or 16.4, GSK may not terminate this Agreement with respect to the Adolor Products prior to the earlier of (a) the third anniversary ** of the First Commercial Sale ** of the POI Product ** in the United States and (b) December 31, 2007**. Upon nine (9) months prior written notice to Adolor, GSK may terminate this Agreement with respect to all Adolor Products ** in the United States and/or one or more Major Regions on or after the earlier of (a) the third anniversary ** of the First Commercial Sale ** of the POI Product ** in the United States and (b) December 31, 2007**; provided that if GSK terminates the Major Region of Japan it must also terminate the Major Region of Asia-Pacific. For the avoidance of doubt, in the event that GSK exercises its termination right pursuant to this Section 16.5.4, GSK shall retain all of its rights to the GI Products, and remain subject to its obligations, under this Agreement.

Appears in 1 contract

Samples: Collaboration Agreement (Adolor Corp)

AutoNDA by SimpleDocs

Termination After First Commercial Sale of the POI Product. In ---------------------------------------------------------- the event that the First Commercial Sale of the POI Product in the United States occurs on or before December 31, 2005**, unless otherwise permitted pursuant to Section 16.3 or 16.4, GSK may not terminate this the Agreement with respect to the Adolor Products OBD Chronic Product prior to the earlier of (a) the third anniversary ** of the First Commercial Sale of the POI Product ** in the United States and (b) December 31, 2007**. Upon nine (9) months prior written notice to Adolor, GSK may terminate this Agreement with respect to all Adolor Products the ** in the United States and/or one or more Major Regions on or after the earlier of (a) the third anniversary ** of the First Commercial Sale ** of the POI Product ** in the United States and (b) December 31, 2007**; provided that if GSK terminates the Major Region of Japan it must also terminate the Major Region of Asia-Pacific. For the avoidance of doubt, in the event that GSK exercises its termination right pursuant to this Section 16.5.416.6.4, GSK shall retain all of its rights to the Adolor Products and the GI ProductsProducts other than the **, and remain subject to its obligations, under this Agreement.

Appears in 1 contract

Samples: Collaboration Agreement (Adolor Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.