First Commercial Sale Date definition

First Commercial Sale Date means the date of the first commercial sale of a Licensed Product by Xcel to a Third Party in the Territory following receipt of Marketing Approval for such Licensed Product in the Territory.

First Commercial Sale Date means the date of the first commercial sale in an arm's length transaction to a Third Party of the Product for an Existing Indication in each country in the Territory by or on behalf of the Licensee, an Affiliate, Sub-licensee after obtaining Regulatory Approval and any Pricing Approvals for the Product necessary or desirable in such country. For clarity “First Commercial Sale Date” shall not be any date on which sale of Product for an Existing Indication occurs in the Territory for use on a compassionate use or named patient basis.

First Commercial Sale Date means the date of the first commercial sale of the Products in a country in the Territory by or on behalf of OCD or an Affiliate of OCD after the Approval Date in such country.

Examples of First Commercial Sale Date in a sentence

• Without limiting the diligence obligations of Section 6.1 above, during the [CONFIDENTIAL TREATMENT REQUESTED] following the First Commercial Sale Date for the Initial Licensed Product, Xcel will: [CONFIDENTIAL TREATMENT REQUESTED].

• Royalties due under this Section 8.3 will be payable with respect to all Royalty Products for the period (the “Royalty Term”) commencing on the First Commercial Sale Date of the first Licensed Product and ending on [CONFIDENTIAL TREATMENT REQUESTED].

• Stryker will inform Osiris in writing of the First Commercial Sale Date.

• Beginning on the First Commercial Sale Date for a Product in any country in the Territory, royalties owed by MIOL to CVT under this Agreement under Section 4.3 above shall accrue during each calendar quarter (or portion thereof) during the Term of this Agreement, and shall be due and payable from MIOL to CVT for all Net Sales by MIOL or its Affiliates or sublicensees for such calendar quarter within [****]) days after the end of such quarter.

• The initial term of this Agreement shall commence upon the Effective Date and continue until the earlier of (a) the date five (5) years following the First Commercial Sale Date and (b) the date ten (10) years from the Effective Date, and shall be automatically renewed thereafter for successive two (2) year periods, unless either party terminates the Agreement upon at least twelve (12) months written notice prior to the relevant date of termination.

More Definitions of First Commercial Sale Date

First Commercial Sale Date is defined in Section 2.5.1

First Commercial Sale Date shall not be any date on which sale of Product for an Existing Indication occurs in the Territory for use on a compassionate use or named patient basis.

First Commercial Sale Date means the date when the first Net Sales of a Product occurs.

First Commercial Sale Date means each date of the first commercial sale of Finished Product to Customer by or on behalf of Cardiome in each country of the Territory.

First Commercial Sale Date means the date of the first Service Order for Allograft Services.

First Commercial Sale Date means the first arms’ length commercial sale by Accentia of Accentia Product for an indication within the Exclusive Clinical Field to a Third Party.

First Commercial Sale Date shall not include the date of any sale of the Products which is for the sole purpose of (i) obtaining regulatory approval for the Products in the Territory or, (ii) compassionate, named patient or similar use.