Unit Sales. For purposes of this Section 3.4, (i) “unlicensed unit sales” and “COMPANY unit sales” shall be deemed to mean the grams of Licensed Compound in third party product (irrespective of dosage form) or the Licensed Product (irrespective of dosage form), respectively, as reflected on the label of each such unit; and (ii) unlicensed unit sales shall be determined by the sales reports of IMS America Ltd. of Plymouth Meeting, Pennsylvania (“IMS”) or any successor to IMS or any other independent marketing auditing firm selected by COMPANY or its sublicensees and reasonably acceptable to LICENSOR. If COMPANY is entitled to a royalty suspension based on unlicensed unit sales pursuant to Subsection 3.4(c) for any royalty period, it or its sublicensees shall submit the sales report of IMS or such other independent firm, as applicable, for the relevant royalty period to LICENSOR, together with COMPANY’s or its sublicensees’ sales report for the relevant royalty period. Such sales reports for each royalty period in which COMPANY is entitled to such royalty suspension shall be submitted with the royalty report for such royalty period submitted pursuant to Section 4.1.
Unit Sales. Unit sales shall be measured by IQVIA (or, in the absence of such data, an appropriate end user-level database mutually agreed by the Parties).
Unit Sales. The Borrowers shall, (a) within one hundred eighty (180) days following the Closing Date, recognize revenue with respect to the sale of thirty seven (37) units to independent third party customers on market terms pursuant to arms’ length transactions, (b) within two hundred seventy (270) days following the Closing Date, recognize revenue with respect to the sale of sixty four (64) units to independent third party customers on market terms pursuant to arms’ length transactions, and (c) within three hundred sixty (360) days following the Closing Date, recognize revenue with respect to the sale of one hundred (100) units to independent third party customers on market terms pursuant to arms’ length transactions. For the purposes hereof, the Borrowers shall be deemed to have “recognized revenue,” (x) with respect to sales to customers inside the United States, when a unit is accepted by the customer in writing, and (y) with respect to sales to customers located outside of the United States, when either (i) a unit departs the factory and said departure is verified by an export manifest or (ii) the customer executes a xxxx and hold letter agreement.
Unit Sales. No sale of units shall occur until all public improvements required for the associated phase of development have been installed and accepted by the City, and the Final Plat for the associated phase of development has been recorded.
Unit Sales. Borrower shall cause two (2) additional Units to become Closed Units, on a cumulative basis, as determined by Lender as of the last day of each calendar month (each, a “Month End”), commencing with the last day of the calendar month during which the CUO Date occurs, and continuing on each Month End thereafter until such time as all the Condominium Units are Closed Units.
Unit Sales. The Borrowers shall, (a) within thirty (30) days following the Amendment No. 1 Waiver/Amendment Effective Date, recognize revenue with respect to the sale of two (2) units to independent third party customers on market terms pursuant to arms’ length transactions, (b) within ninety (90) days following the Amendment No. 1 Waiver/Amendment Effective Date, recognize revenue with respect to the sale of fifteen (15) units (including units counted for purposes of clause (a) above) to independent third party customers on market terms pursuant to arms’ length transactions, and (c) within one hundred and fifty (150) days following the Amendment No. 1 Waiver/Amendment Effective Date, recognize revenue with respect to the sale of twenty five (25) units (including units counted for purposes of clause (b) above) to independent third party customers on market terms pursuant to arms’ length transactions. For the purposes hereof, the Borrowers shall be deemed to have “recognized revenue,” (x) with respect to sales to customers inside the United States, when a unit is accepted by the customer in writing, and (y) with respect to sales to customers located outside of the United States, when either (i) a unit departs the factory and said departure is verified by an export manifest or (ii) the customer executes a bxxx and hold letter agreement.”
Unit Sales. Borrower shall have sold and closed on the sale of at least three (3) Units on or before the date that is nine (9) months after the date hereof.
Unit Sales. Notwithstanding any contrary term or provision of this Agreement, the Township expressly agrees and consents to the sale of the Project to purchasers of Units in the Project and to their successors and assigns and that upon the transfer of title to a Unit by the Entity to the purchaser of such Unit (which shall be deemed to have occurred upon such Unit’s sale) the Entity’s obligations under this Agreement with respect to such Unit shall cease, the tax exemption granted hereby and all obligations related thereto shall continue and inure to and bind each purchaser of a Unit and his or her successors and assigns notwithstanding that such persons are not urban renewal entities pursuant to the Governing Law. The proceeds of the sale of Units in the Project shall not be included in the Annual Gross Revenue or Net Profits of the Entity.
