Biovest definition

Biovest means Bio Vest International, Inc. (“BioVest”), the corporation in which Accentia acquired 81% of the outstanding shares on a fully diluted basis using, in part, the proceeds of a “Bridge Note” payable to the order of McKesson by Accentia in the original principal amount of $2,500,000 and dated as of June 12, 2003.

Biovest shall have the meaning set forth in the preamble hereto.

Biovest means Biovest International, Inc., a Delaware corporation and majority-owned subsidiary of ABPI.

Examples of Biovest in a sentence

• For the avoidance of doubt, no contingent payment right is granted to Company hereunder with regard to any Biovest activity other than the Biovest Biologic Products, and no right, interest, or license to use any Biovest Biologic Product (or other product or intellectual property of Biovest or its Affiliates) is granted under this Agreement whatsoever.

• During the period this conversion right remains outstanding, the Company will reserve from its authorized and unissued Biovest Common Stock a sufficient number of shares to provide for the issuance of the Conversion Shares upon the full conversion of this Note.

• At any time after the date hereof, the Company may elect to convert all or a portion of the principal and all accrued and unpaid interest thereon outstanding under this Note into shares of Biovest Common Stock (a “Conversion Election”) upon prior written notice to, and the written consent of, the Holder.

• Sales of the Conversion Shares by the Holder will be subject to, and the Holder will comply with, the limitations on the number of shares of Biovest Common Stock that may be sold from time to time contained in Rule 144(e) of the Rules and Regulations under the Securities Act of 1933, as amended, promulgated by the United States Securities and Exchange Commission (“Rule 144”), without regard to whether or not the Holder is considered an “Affiliate” of the Company for purposes of Rule 144(e).

• Biovest, following the recommendation of its Audit Committee and with the approval of its Board of Directors, by executing this Agreement shall be deemed to expressly acknowledge and waive the potential conflicts of interest associated with this Agreement.

• Further, Biovest has committed that the Biovest Audit Committee shall engage independent legal counsel and Accentia has also committed that it shall engage independent legal counsel because the general counsel and entire legal staff used by both Biovest and Accentia are shared resources by Biovest and Accentia.

• The role of general counsel and in-house legal staff of Biovest and Accentia shall be limited to initial drafting and to supporting independent legal counsel.

• Biovest and Accentia hereby acknowledge that Accentia owns more than a majority of the outstanding capital stock of Biovest, and that certain directors, officers and employees of Biovest also have positions as officers, directors or employees of Accentia.

• All members of the Biovest Audit Committee are independent from any relationship with Accentia.

• In light of the potential conflicts of interest resulting from the interrelationship of the parties, Biovest has committed to submit this Agreement and the potential conflicts of interest arising there from to the Biovest Audit Committee.

More Definitions of Biovest

Biovest means Biovest International, Inc., a Delaware corporation.

Biovest has the meaning given such term in the preamble.

Biovest means BioVest International, Inc., a Delaware corporation, together with its Subsidiaries.

Biovest shall have the meaning set forth in the Recitals hereto.