Voluntary and Mandatory Recalls Sample Clauses

Voluntary and Mandatory Recalls. Decision-Making. To the extent that: (i) any Regulatory Authority in the GSK Territory issues a directive or order or requests that the Product be recalled or withdrawn; (ii) a court of competent jurisdiction orders a recall or withdrawal of the Product in the GSK Territory or (iii) GSK, after consultation with Sepracor, determines that an event, incident or circumstance has occurred that means that the Product should be recalled or withdrawn voluntarily in the GSK Territory, the Parties shall recall or withdraw the Product as set forth in this Section 17.4. As between the Parties, GSK shall control and coordinate all activities that GSK deems reasonably necessary in connection with such recall or withdrawal of the Product in the GSK Territory, including making all contact with relevant Regulatory Authorities; provided, however, that GSK shall not take any action with respect to any such recall without first notifying Sepracor in writing, and to the extent practical, consulting in good faith with Sepracor. GSK shall consider in good faith any comments of Sepracor in connection with any aspect of the management of any such recall. For clarity, all matters relating to a withdrawal or recall of the Product in the Sepracor Territory shall be determined, controlled and coordinated solely by Sepracor.
Sample 1
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Voluntary and Mandatory Recalls. Decision-Making. To the extent that: (i) any regulatory authority in the Territory issues a directive or order or requests that a Licensed Product be recalled or withdrawn, (ii) a court of competent jurisdiction orders a recall or withdrawal of a Licensed Product in the Territory, or (iii) SEPRACOR determines that an event, incident or circumstance has occurred that warrants a Licensed Product should be recalled or withdrawn voluntarily in the Territory, the Parties will recall or withdraw the Licensed Product as set forth in this Section 15.6. As between the Parties, SEPRACOR will control and coordinate all activities that SEPRACOR deems reasonably necessary in connection with such recall or withdrawal of the Licensed Product in the Territory, including making all contact with relevant regulatory authorities; provided, however, that SEPRACOR will not take any action with respect to any such recall without first notifying BIAL in writing, and to the extent practical, consulting in good faith with BIAL. SEPRACOR will consider in good faith any comments of BIAL in connection with any aspect of the management of any such recall. For clarity, all matters relating to a withdrawal or recall of a Licensed Product outside of the Territory will be determined, controlled and coordinated solely by BIAL.
Sample 1
Voluntary and Mandatory Recalls. Decision-Making. To the extent that: (i) any Regulatory Authority in the ORIC Territory or in the Voronoi Territory issues a directive or order that a Licensed Product be recalled or withdrawn in any country within the ORIC Territory or the Voronoi Territory; (ii) a court of competent jurisdiction orders a recall or withdrawal of a Licensed Product in any country within the ORIC Territory or the Voronoi Territory, (iii) the Parties mutually agree that a Licensed Product should be recalled or withdrawn voluntarily in any country within the ORIC Territory or the Voronoi Territory, or (iv) a Party reasonably determines that a Licensed Product should be recalled or withdrawn voluntarily in any country within its Territory, the applicable Party(ies) shall recall or withdraw the Licensed Product in such country as set forth in this Section 14.5. As between the Parties, [***]; provided, however, that each of ORIC and Voronoi shall provide the other Party with [***] notice of any voluntary recall or withdrawal of a Licensed Product in its Territory (and to the extent practicable, of any recall or withdrawal of a Licensed Product in its Territory ordered by a Regulatory Authority or court), and in any event shall keep the other Party promptly and fully informed of any such recall or withdrawal and shall [***].
Sample 1
Voluntary and Mandatory Recalls. If either Party believes that a voluntary recall or market withdrawal of a Licensed Product or any Sales Material may be necessary in the Territory, such Party shall notify the other Party within forty-eight (48) hours after it forms such belief. Before taking any action with respect to a recall or market withdrawal, to the extent possible, MGI, its Affiliates, and Licensees shall provide SuperGen with a reasonable opportunity to review, comment on and consult with respect to such recall or market withdrawal, and MGI, its Affiliates, and Licensees shall consider in good faith any comments or suggestions of SuperGen. As between the Parties, MGI shall be solely responsible for all recalls and market withdrawals, provided that MGI shall keep SuperGen fully informed with respect thereto and shall provide SuperGen with reasonable opportunities to comment with respect to the activities associated therewith. As between the Parties, all recalls and market withdrawals shall be at the sole cost and expense of MGI.
Sample 1

Related to Voluntary and Mandatory Recalls

  • Voluntary and Mandatory Prepayments Scheduled installments of principal of the Series [ ] New Term Loans set forth above shall be reduced in connection with any voluntary or mandatory prepayments of the Series [ ] New Term Loans in accordance with Sections 5.1 and 5.2 of the Credit Agreement respectively.

  • Mandatory Reductions If after giving effect to any reduction or termination of Revolving Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceed the Aggregate Revolving Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

  • Mandatory Reduction At the close of business on the Termination Date, the aggregate Commitments shall be automatically and permanently reduced, on a pro rata basis, by an amount equal to the amount by which the aggregate Commitments immediately prior to giving effect to such reduction exceed the aggregate unpaid principal amount of the Committed Advances then outstanding.

  • Mandatory Retirement Retirement shall be mandatory only to the extent required by law.

  • Mandatory Repayments (a) On any day on which the sum of (I) the aggregate outstanding principal amount of all Revolving Loans (after giving effect to all other repayments thereof on such date), (II) the aggregate outstanding principal amount of all Swingline Loans (after giving effect to all other repayments thereof on such date) and (III) the aggregate amount of all Letter of Credit Outstandings, exceeds the Total Commitment as then in effect, the Borrower shall prepay on such day the principal of Swingline Loans and, after all Swingline Loans have been repaid in full or no Swingline Loans are outstanding, Revolving Loans in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving Loans, the aggregate amount of the Letter of Credit Outstandings exceeds the Total Commitment as then in effect, the Borrower shall pay to the Administrative Agent at the Payment Office on such day an amount of cash equal to the amount of such excess (up to a maximum amount equal to the Letter of Credit Outstandings at such time), such cash to be held as security for all obligations of the Borrower to the Issuing Lender and the Lenders hereunder in a cash collateral account to be established by the Administrative Agent. (b) Notwithstanding anything to the contrary contained in this Agreement or in any other Credit Document, (i) all then outstanding Revolving Loans shall be repaid in full on the Maturity Date, (ii) all then outstanding Swingline Loans shall be repaid in full on the Swingline Expiry Date and (iii) all then outstanding Loans shall be repaid in full on the date on which a Change of Control occurs. (c) On any day on which the Asset Coverage Ratio is less than 2.00:1.00 (based on the most recently delivered Valuation Certificate, subject to adjustments contemplated by Section 8.01(j)), the Borrower shall prepay principal of outstanding Loans and/or cash collateralize outstanding Letters of Credit, in accordance with the immediately following sentence, in an aggregate amount necessary to increase the Asset Coverage Ratio to at least 2.00:1.

  • Voluntary Reductions The Borrower shall have the right to terminate or permanently reduce the unused portion of the Revolving Committed Amount at any time or from time to time upon not less than five (5) Business Days’ prior written notice to the Administrative Agent (which shall notify the Lenders thereof as soon as practicable) of each such termination or reduction, which notice shall specify the effective date thereof and the amount of any such reduction which shall be in a minimum amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof and shall be irrevocable and effective upon receipt by the Administrative Agent; provided that no such reduction or termination shall be permitted if after giving effect thereto, and to any prepayments of the Revolving Loans made on the effective date thereof, the sum of the aggregate principal amount of outstanding Revolving Loans plus outstanding Swingline Loans plus outstanding LOC Obligations would exceed the Revolving Committed Amount then in effect.

  • Voluntary Redundancy a) With the exception of areas where there is only one position under review, the employer will call for expressions of interest from kaimahi within the area of review who wish to volunteer for redundancy to cover the surplus/es positions that have been identified. b) Should the number of volunteers exceed the number of surpluses, the employer will apply selection criteria as defined in clause 12.7 to determine whose application for redundancy will be accepted. c) Should the number of volunteers not exceed the number of identified surpluses, the employer will accept all expressions of interest from those who have volunteered subject to the operational requirements of the employer. d) Should there be no volunteers or insufficient volunteers to discharge the surplus, the employer shall then apply the criteria set out in clause 11.7 to identify the kaimahi to be declared surplus.

  • Optional and Mandatory Prepayments (a) Each Borrower may prepay the Loans made to it, in whole or in part, without premium or penalty, upon at least one Business Day’s notice to the Administrative Agent, specifying the date and amount of prepayment. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein. Partial prepayments shall be in an aggregate principal amount of at least $100,000. (b) If, at any time and from time to time, either (i) (x) for each Borrower other than Designated Borrowers, the Asset Coverage Ratio for such Borrower shall be less than 300%, or (y) for each Designated Borrower, the Asset Coverage Ratio shall be less than the Designated Borrower Asset Coverage Ratio Percentage for such Designated Borrower, or (ii) the aggregate amount of all borrowings of a Borrower (including without limitation the Loans made to a Borrower) then outstanding exceeds the borrowing limits provided in such Borrower’s Prospectus; then in each case within three Business Days thereafter such Borrower shall repay Loans made to such Borrower to the extent necessary to ensure that (x) the Asset Coverage Ratio of all borrowings of such Borrower after such payments is in compliance with applicable covenants concerning minimum Asset Coverage Ratios set forth in this Agreement and (y) the aggregate amount of all borrowings made to such Borrower then outstanding does not after such payments exceed such limits, as the case may be.

  • Mandatory Repayment The aggregate principal amount of the Loans outstanding on the Maturity Date, together with accrued but unpaid interest thereon, shall be due and payable in full on the Maturity Date.

  • Voluntary Reduction The Borrower shall have the right at any time and from time to time, upon at least five (5) Business Days prior written notice to the Administrative Agent, to permanently reduce, without premium or penalty, (i) the entire Revolving Credit Commitment at any time or (ii) portions of the Revolving Credit Commitment, from time to time, in an aggregate principal amount not less than $3,000,000 or any whole multiple of $1,000,000 in excess thereof. Any reduction of the Revolving Credit Commitment shall be applied to the Revolving Credit Commitment of each Revolving Credit Lender according to its Revolving Credit Commitment Percentage. All Commitment Fees accrued until the effective date of any termination of the Revolving Credit Commitment shall be paid on the effective date of such termination.

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