Examples of Biosense Agreement in a sentence
In addition, within ninety (90) days after the Effective Date, except to the extent Ocuphire is required to retain such documents or materials pursuant to the Biosense Agreement, Ocuphire, will transfer to Processa the following materials related to the Compound in the Field in the Territory: (i) drug substance, (ii) drug product, and (iii) all documents related to the Product including all Regulatory Approvals or clearances or submissions.
Under the terms of the agreement, Healthcare Royalty Partners will be entitled to receive 100% of all royalties due to the Company under the Biosense Agreement until the loan is repaid.
The loan is a full recourse loan, matures on December 31, 2018, and bears interest at an annual rate of 16% payable quarterly with royalties received under the Biosense Agreement.
The Biosense Agreement relates to the development and distribution of magnetically enabled catheters used with Stereotaxis’ Niobe ES system in cardiac ablation procedures.
After the loan obligation is repaid, the royalties under the Biosense Agreement will again be paid to the Company.
If the payments received by the Company under the Biosense Agreement are insufficient to pay all amounts of interest due on the loan, then such deficiency will increase the outstanding principal amount on the loan.
Borrower is the sole owner of the Intellectual Property which it owns or purports to own except for (a) non-exclusive licenses granted to its customers in the ordinary course of business, (b) over-the-counter software that is commercially available to the public, (c) material Intellectual Property licensed to Borrower and noted on the Perfection Certificate, (d) jointly owned Intellectual Property as provided in the Biosense Agreement and (e) the other Jointly Owned Intellectual Property.
The use of payments due to the Company under the Biosense Agreement was approved by our primary lender.
Borrowers shall use the net proceeds of the Loan received by them (a) (i) for general corporate purposes, and/or (ii) to pay all fees and expenses payable by Borrowers pursuant to the Transaction Documents and (b) for the repayment of all amounts outstanding under the Biosense Agreement.
Lender shall not, and shall not grant any license under the Stereotaxis Intellectual Property Rights to, engage in any development, commercialization or other activity regarding any Product; provided, however, during the existence of an Event of Default, subject to and in accordance with the License Agreement, Lender may take such actions but only within the applicable territory and field(s) as provided in the Biosense Agreement.