Approved Licensed Product definition
Examples of Approved Licensed Product in a sentence
After the First Commercial Sale of an Approved Licensed Product in the Territory, Meda shall furnish to Pipex, within 30 days after the end of each calendar quarter, a written report of the Net Sales for the preceding quarter and royalties payable thereon, together with the exchange rates used for any currency conversion.
CONFIDENTIAL TREATMENT REQUESTED determined and reconciled as if such Approved Licensed Product had only Achieved milestones within such Approval Pathway and for the Approved Indication (taking into account all other milestones that have been Achieved with respect to the applicable Arcus Program as of the date of such Marketing Approval).
After the Royalty Period for any Approved Licensed Product expires in any country in the Territory, no further royalties shall be payable in respect of sales of such product in such country and thereafter the licenses granted under Section 2.1 with respect to such product in such country shall be fully paid-up, perpetual, irrevocable and royalty-free.
For the avoidance of doubt, royalties are payable only on sales in countries where there exist Valid Claims covering the sale or use in the Field of an Approved Licensed Product in such country.