Existing Licensed Product definition
Examples of Existing Licensed Product in a sentence
Trustee’s sole rights with respect to transferability or use of Licensed Products shall be to exclusively sublicense to Authorized User all of its Licensee’s rights under the terms and conditions of the License Agreement; provided, further, however, in the event of any termination or expiration of such sublicense by reason of payment in full, all of Trustee’s rights in such Licensed Product shall terminate immediately and Authorized User’s prior rights to such Existing Licensed Product shall be revived.
Trustee’s sole rights with respect to transferability or use of Licensed Products shall be to exclusively sublicense to Authorized User all of Lessor’s rights under the terms and conditions of the License Agreement; provided, further, however, in the event of any termination or expiration of such sublicense by reason of payment in full, all of Trustee’s rights in such Licensed Product shall terminate immediately and Authorized User’s prior rights to such Existing Licensed Product shall be revived.
Notwithstanding anything in this Agreement to the contrary, the provisions of this Section 5.7 shall not apply to regulatory submissions or Regulatory Approvals for New Licensed Product or New Indication Existing Licensed Product that a Party Develops pursuant to, and in accordance with, Section 5.11 or Section 5.12, which such regulatory submissions and Regulatory Approvals shall be the sole responsibility of and solely owned by such Party.
The Parties acknowledge their respective regulatory responsibilities set forth in Article 8 and elsewhere herein, and agree otherwise to work together to develop the Existing Licensed Product for the First Indication in accordance with the Development Plan and for the Second Indication in accordance with the Second Indication Development Plan.
As used herein, a “Reverted Licensed Product” means both such Licensed Product in the form it exists as of the effective date of termination (the “Existing Licensed Product”), as well as a modified version of such Licensed Product which contains the same Islet Cells as are in the Existing Licensed Product, but which includes a formulation of the Encapsulation Material which is a [***] included in the Existing Licensed Product, which such [***] but disclosed to Lilly in an appropriately documented manner.
The Development Milestone Payments set forth in TABLE 6.3.1(b) (Development Milestones for Existing Licensed Products) will be payable one-time in accordance with Section 6.3.1(f) (Notice and Payment) upon the achievement of the applicable Development Milestone Event by the first Existing Licensed Product.
On a region-by-region basis, CASI will make the Sales Milestone Payments to Black Belt upon the achievement by CASI or its Affiliates or Sublicensees of each of the Sales Milestone Events for the applicable region set forth in TABLE 5.3.2(a) (Existing Licensed Product Sales Milestones) below with respect to the aggregate annual Black Belt Net Sales of Existing Licensed Products in each applicable region.
At any time prior to the filing of a Drug Approval Application for the Exploitation of the Existing Licensed Product in the United States (the “India Option Period”), the Licensee may, upon [***] ([***]) Business Days’ written notice to Eisai elect to add India to the Licensee Territory (the “India Option”).
Promptly following the BLA filing, Eisai shall assign and shall cause its Affiliates to assign, to the Licensee all of Eisai’ s and its Affiliates’ rights, title and interest in and to any INDs with respect to the Existing Licensed Product in the Licensee Territory and all related Regulatory Documentation with respect thereto.
In accordance with the Development Plan and any Development Amendment, at its sole expense, under the oversight of the JDC, Licensor shall retain control and responsibility for all regulatory submissions for the Existing Licensed Product in the Field in the Territory with respect to obtaining the Initial Approval.