Two-Invoice Policy Sample Clauses
The Two-Invoice Policy clause establishes that only two invoices may be issued for a particular transaction or contract. Typically, this means the seller can submit an initial invoice, often for a deposit or partial payment, and a final invoice upon completion or delivery of goods or services. This policy streamlines the billing process, reduces administrative complexity, and helps prevent confusion or disputes over multiple or unexpected invoices.
Two-Invoice Policy. The Parties agree that in the event, under the Two-Invoice Policy and tendering policies and applicable Laws in a given province in the PRC, neither Lian nor any of its Affiliates can, based on their existing qualifications, distribute the Licensed Products for such province directly or indirectly to its distributors for the PRC, then, the Parties will use reasonable efforts to discuss in good faith alternative arrangements for the distribution of the Licensed Product in such province that complies with the Two-Invoice Policy as implemented in such province and that maintains the economic interests of the Parties as agreed under this Agreement.
Two-Invoice Policy. The Parties agree that in the event that Tarsus is the holder of the Regulatory Approval for a Licensed Product in the PRC and, under the Two-Invoice Policy and tendering policies and applicable Laws in a given province in the PRC, neither Lian nor any of its Affiliates can, based on their existing qualifications, distribute the Licensed Products for such province directly or indirectly to its distributors for the PRC, then Tarsus and Lian will use reasonable efforts to discuss in good faith and agree to alternative arrangements for the distribution of the Licensed Product in such province that complies with the Two-Invoice Policy as implemented in such province and that maintains the economic interests of Tarsus and Lian as agreed under this Agreement.
Two-Invoice Policy. The Parties agree that in the event, under the Two-Invoice Policy and tendering policies and applicable Laws in a given province in the PRC, neither Licensee nor any of its Affiliates can, based on their existing qualifications, distribute the Licensed Products for such province directly or indirectly to its distributors for the PRC, then, the Parties will use Commercially Reasonable Efforts to discuss in good faith alternative arrangements for the distribution of the Licensed Product in such province that complies with the Two-Invoice Policy as implemented in such province and that maintains the economic interests of the Parties as agreed under this Agreement.
Two-Invoice Policy. Prior to Betta providing commercial supply in the Territory, with respect to the Licensed Products for the PRC for distribution channels in which the Two-Invoice Policy applies, Agenus will sell Licensed Products for the PRC exclusively to a single general distributor designated by Betta for importation into and distribution in the PRC (the “General Distributor”). The Parties agree that if, under the Two-Invoice Policy and Applicable Laws in a given Province in the Territory, no Betta Party can, based on their existing qualifications, distribute the Licensed Products for such Province directly or indirectly to its distributors for the PRC, or if any distributor for the Licensed Products for the PRC is required in such Province to have a direct contractual agreement for the supply of the Licensed Product with the owner of the Regulatory Approval of the Licensed Product in the country where such Licensed Product is manufactured, then:
(i) The Parties will [*] discuss and agree to alternative arrangements for the distribution of the Licensed Products in such Provinces that complies with the Two-Invoice Policy as implemented in such Provinces and that maintains those responsibilities and economic interests of the Parties as agreed under this Agreement. The key terms of such alternative arrangements will include pricing, discounts or allowances arrangements, management of accounts receivable, collection of distributor data, forecasting and ordering, invoicing, and management of inventory. [*].
(ii) For the purpose of maintaining the economic interests of the Parties as agreed under this Agreement, Agenus will pay to Betta the gross margin Agenus receives from the General Distributor that Betta would have received if Betta directly sold such Licensed Product to the General Distributor (the “Price Difference”). Betta will have the right to conduct audits through an independent, certified public accountant on Agenus’ relevant records to determine the accuracy of the Price Difference.
(iii) Betta will, and Betta will cause all Betta Parties to, provide to Agenus all reasonable assistance, facilitation and support for the distribution of the Licensed Products in the applicable Provinces to comply with the Two-Invoice Policy. For the avoidance of doubt, in the case that Betta and the General Distributor directly make an agreement in accordance with this Section 6.3(b), such agreement will conform to the terms and conditions of this Agreement.