Applicable Territory definition
Examples of Applicable Territory in a sentence
Each Party, subject to the terms and conditions of this Agreement, shall have the sole right to Develop the Licensed Compound and Licensed Products in the Field in its Applicable Territory; provided that, with respect to certain Global Clinical Trials, the Parties may wish to collaborate across the Licensed Territory and the Retained Territory.
Each Party shall have the sole right and responsibility, at its sole expense, for all aspects of the Development of the Licensed Compound and Licensed Products (including the conduct of Clinical Trials) in the Field in its Applicable Territory in accordance with the Development Plan.
If a Party, its Affiliates or its or their Sublicensees receives any order for any Licensed Product for use from a prospective purchaser located in a country or jurisdiction in the other Party’s Applicable Territory, such Party shall immediately refer that order to such other Party and shall not accept any such orders.
Subject to compliance with Applicable Laws, each Party shall have the right to use the safety data resulting from Development activities performed by the other Party, without compensation to such performing Party, in each case as reasonably necessary for the using Party to comply with its safety reporting obligations in its Applicable Territory.
Through the JSC or a regulatory subcommittee to be formed by the JSC, the Parties shall keep each other reasonably informed of any material regulatory developments related to the Licensed Products in the Parties’ Applicable Territory.