Date of First Commercial Sale definition

Date of First Commercial Sale means the date on which a Licensed Product is first sold for monetary value for use or consumption by the end user of such Licensed Product by ProPhase, its Affiliate or its Sublicensee.
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Date of First Commercial Sale means the date when cumulative sales to the retail market of Products exceeds $ .
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Date of First Commercial Sale means the date when cumulative sales to the retail market of Products exceeds $20,000.
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Examples of Date of First Commercial Sale in a sentence

  • CORPORATION shall inform NYU in writing of the Date of First Commercial Sale with respect to each Licensed Product in each country as soon as practicable after the making of each such first commercial sale.

  • This Section 2.2 shall have no further force and effect as on the fourth anniversary of the Date of First Commercial Sale and, as of such date, no further royalties shall be owed to MAS by CTI under this Agreement.

  • Notwithstanding the foregoing, the obligation of CTI to make payments under this Section 2.2 shall not exceed $500,000 per twelve-month period commencing on each of (i) the Date of First Commercial Sale, (ii) the first anniversary of the Date of First Commercial Sale, (iii) the second anniversary of the Date of First Commercial Sale and (iv) the third anniversary of the Date of First Commercial Sale.

  • At the close of each calendar quarter from the Date of First Commercial Sale through the fourth anniversary of the Date of First Commercial Sale, the Net Sales shall be computed by CTI, and the amounts due thereon pursuant to Section 2.2 shall be paid to MAS within sixty (60) days after the close of said quarter.

  • Beginning in calendar year 2007 and until the Date of First Commercial Sale, Licensee shall provide XXXX with a written Development Report summarizing Licensee’s development activities since the last Development Report and any necessary adjustments to the Development Plan.


More Definitions of Date of First Commercial Sale

Date of First Commercial Sale shall have the meaning set forth in Section 7(b) hereof.
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Date of First Commercial Sale means the date on which LumiCyte or any Sublicensee first transfers title, rights to use or other rights in or to a Royalty-Bearing Product to
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Date of First Commercial Sale means the date on which IllumeSys or any Sublicensee or Affiliate first transfers title to a Licensed Product to a Third Party (other than an Affiliate of such Sublicensee) for monetary consideration.
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Date of First Commercial Sale means the date on which CTI or any Sublicensee or Affiliate first transfers title to a Licensed Product to a Third Party (other than an Affiliate of such Sublicensee) for monetary consideration.
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Date of First Commercial Sale means the actual date of first commercial sale of a Licensed Product in the Licensed Territory.
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Date of First Commercial Sale means the date when cumulative sales to the retail market of Products exceeds two hundred fifty thousand dollars ($250,000).
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Date of First Commercial Sale means the date when cumulative sales to the retail market of each (1) Research Product incorporating each of the patents listed on Appendices B-1 and B-3 exceeds $(****), and (2) Therapeutic Product incorporating each of the patent(s) listed on Appendix X-0, X-0 and B-4 meets the respective milestone set forth in 3D(i)(b), (d) and (f).
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