First Commercialization definition

First Commercialization means date of the first commercial sale by ACSENTIENT or ACSENTIENT Agent of the Preparation in commercial quantities to a Third Party under this Agreement.
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First Commercialization means the date of the first commercial sale by ISTA, or its sub-licensees of the Product in commercial quantities to a Third Party (other than an ISTA licensee of the Product) in the Territory according to the terms of this Agreement. By way of clarification and for the avoidance of doubt, First Commercialization shall occur only once with respect to the Product and shall not pertain to improvements of such Product or any other Product that may be subsequently approved by United States Food and Drug Administration (U.S. FDA) or any other governmental authority and/or commercialized by ISTA in the Territory.
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First Commercialization means the date of the first commercial offer for sale by SIRION of the Product in commercial quantities to a Third Party in the Territory according to the terms of this Agreement.
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Examples of First Commercialization in a sentence

  • Licensee hereby acknowledges that the financial terms set forth in this Agreement are based on the understanding that no later than the […***…] anniversary of the First Commercialization Date, the total revenue generated by sales of Licensed Products that are Consumables and/or Consumable Kits in the Field of Use will equal at least […***…] of the total revenue generated by Licensee in the Field of Use at such date.

  • For purposes hereof, the “Commercialization Payment Date” shall mean the date that is the earlier of (i) the First Commercialization Date and (ii) the first anniversary of the Closing Date.

  • In no event, will minimum annual royalties be imposed on ACSENTIENT for the [ * ] year and [ * ] year following First Commercialization except for the case of paragraph 4.03.

  • If SENJU disagrees with ISTA’s sales forecast within the aforementioned [ * ] period, SENJU and ISTA shall have an independent market research agent, which is acceptable to both SENJU and ISTA, calculate the sales forecast for such [ * ] Financial Years after the Financial Year of the First Commercialization.

  • Such [ * ] shall be conducted within [ * ] following the First Commercialization.

  • Licensee hereby agrees that if the total revenue generated by sales of Licensed Products that are Consumables and/or Consumable Kits in the Field of Use equals less than […***…] of the total revenue generated by Licensee in the Field of Use on the […***…] anniversary of the First Commercialization Date or at any time thereafter during the Term, the parties shall in good faith negotiate an equitable adjustment to the financial terms of this Agreement commensurate with such revenue shortfall.

  • Corgenix will also have a right of first refusal, but not an obligation, to manufacture the New Corgenix IT Assays developed during the Phase II Co-Development Program for a period of three (3) years commencing on the First Commercialization Date for the specific New Corgenix IT Assay.

  • The business trust may borrow from residents and non-resident (External Commercial Borrowing).

  • Licensee hereby agrees that if the total revenue generated by sales of Licensed Products that are Consumables and/or Consumable Kits in the Field of Use equals less than […***…] of the total revenue generated by Licensee in the Field of Use on the […***…] anniversary of the First Commercialization Date or at any time thereafter during the Term, the parties shall in good faith negotiate an equitable adjustment to the financial terms of this Agreement commensurate with such revenue shortfall.4.7. Taxes.

  • Licensee hereby agrees that if the total revenue generated by sales of Licensed Products that are Consumables and/orConsumable Kits in the Field of Use equals less than […***…] of the total revenue generated by Licensee in the Field of Use on the […***…] anniversary of the First Commercialization Date or at any time thereafter during the Term, the parties shall in good faith negotiate an equitable adjustment to the financial terms of this Agreement commensurate with such revenue shortfall.4.7. T axes.


More Definitions of First Commercialization

First Commercialization means the date, on a country-by-country basis, of the first commercial sale by ISTA or ISTA Marketing Agent in commercial quantities to a Third Party (other than ISTA Marketing Agent) in that country of the Territory according to the terms of this Agreement. For the purpose of clarification, each individual country of the Territory can have its own First Commercialization but, for the avoidance of doubt, First Commercialization may occur only once in each country.
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First Commercialization is defined as being achieved upon Hexion receiving payment from Hexion customers for ten (10) jobs run by AirGate engineers and deemed by Hexion, in its reasonable judgment, to have been successful and to have met the defined performance criteria of *** . The date of First Commercialization shall be designated by Hexion in writing to AGTI. For a six (6) month period following such date, AGTI shall, at no additional cost to Hexion, train up to three (3) Hexion employees to operate the equipment and analyze the data and results.
Sample 1
First Commercialization means the date of the first commercial sale in the Territory by ISTA or ISTA Agent of the first FDA-approved Preparation in commercial quantities to Third Party under this License Agreement. By way of clarification and for the avoidance of doubt, First Commercialization shall occur only once with respect to the first FDA-approved Preparation and shall not pertain to improvements of such Preparation or any other Preparations that may be that may be subsequently approved by the FDA and/or commercialized by ISTA in the Territory. 5. The meaning of the last sentence of Paragraph 4.01 shall be clarified to mean that the reduction of the royalty rate shall apply only as to the specific Preparation for which an equivalent generic product has been commercialized. By way of example, if the Net Sales of a particular Preparation(s) in any year decrease more than 20% compared to the preceding year due to the commercialization of a generic product equivalent to such particular Preparation(s), then the royalty rate of such particular Preparation(s) shall be reduced as provided in Paragraph 4.01. 6. Paragraph 15.02 of the License Agreement shall be amended to read in its entirety:
Sample 1
First Commercialization means the date of the first commercial sale by ISTA or ISTA Marketing Agent of the Preparation in commercial quantities to a Third Party in ISTA Territory under this License Agreement.
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Related to First Commercialization

  • Commercialization or “Commercialize” means any and all activities undertaken at any time for a particular Licensed Product and that relate to the manufacturing, marketing, promoting, distributing, importing or exporting for sale, offering for sale, and selling of the Licensed Product, and interacting with Regulatory Authorities regarding the foregoing.

  • Commercialization Plan has the meaning set forth in Section 6.2.

  • Joint Commercialization Committee or “JCC” has the meaning set forth in Section 2.1(a).

  • Development Program means the implementation of the development plan.

  • Commercializing means to engage in Commercialization and “Commercialized” has a corresponding meaning.

  • Development Activities means those Development activities undertaken by or on behalf of a Party or its Affiliates with respect to the Product in the Field.

  • Development Plan has the meaning set forth in Section 3.2.

  • Development Activity means any activity defined as Development which will necessitate a Floodplain Development Permit. This includes buildings, structures, and non-structural items, including (but not limited to) fill, bulkheads, piers, pools, docks, landings, ramps, and erosion control/stabilization measures.

  • First Commercial Sale means, with respect to any Licensed Product, the first sale for use or consumption by the general public of such Licensed Product in any country in the Territory after Approval of such Licensed Product has been granted, or such marketing and sale is otherwise permitted, by the Regulatory Authority of such country.

  • Medical Affairs Activities means, with respect to any country or other jurisdiction in the Territory, the coordination of medical information requests and field based medical scientific liaisons with respect to Licensed Compounds or Licensed Products, including activities of medical scientific liaisons and the provision of medical information services with respect to a Licensed Compound or Licensed Product.

  • Research means a methodical investigation into a subject.

  • Development Plans means a coherent set of operations defined and financed exclusively by the OCTs in the framework of their own policies and strategies of development, and those agreed upon between an OCT and the Member State to which it is linked;

  • Development Team means the entities and professionals assembled to develop and manage the Project, typically including the Applicant, Owner, Developer(s), Co-Developer(s) and general partner or any other related entities in which the Developer or Co-Developer has an identity of interest or a Controlling Interest.

  • Research Program has the meaning set forth in Section 3.1.

  • Clinical means having a significant relationship, whether real or potential, direct or indirect, to the actual rendering or outcome of dental care, the practice of dentistry, or the quality of dental care being rendered to a patient;

  • Collaboration has the meaning set forth in Section 2.1.

  • Clinical Development means the conduct of clinical trials in humans to assess the dosing, safety and/or efficacy of the Product, including but not limited to Phase I Clinical Trials, Phase II Clinical Trials, Phase Ill Clinical Trials and Phase IV Clinical Trials.

  • Clinical Trials means a controlled study in humans of the safety or efficacy of a Product, and includes, without limitation, such clinical trials as are designed to support expanded labeling or to satisfy the requirements of an Agency in connection with any Product Approval and any other human study used in research and Development of a Product.

  • Collaboration Compound means any of the following: (a) FG-4592, (b) any HIF Compound (other than FG-4592) that is added to this Agreement pursuant to Section 3.6, and (c) any salts, esters, complexes, chelates, crystalline and amorphous morphic forms, pegylated forms, enantiomers (excluding regioisomers), prodrugs, solvates, metabolites and catabolites of any of the foregoing ((a) or (b)).

  • Commercial Development Plan means the written commercialization plan attached as Appendix E.

  • Development means the division of a parcel of land into two or more parcels, the construction, reconstruction, conversion, structural alteration, relocation or enlarge- enlargement of any building or structure, any mining excavation or landfill, and any use or change in the use of any building or other structure, or land or extension of use of land, for which permission is required under the Municipal Land Use Law, N.J.S.A. 40:55D-1 et seq.

  • Commercialise means to promote, market, distribute and/or sell a Product and “Commercialising” and “Commercialisation” shall be construed accordingly;

  • Initial Development Plan has the meaning set forth in Section 3.2(b).

  • Development Phase means the period before a vehicle type is type approved.

  • Manufacturing means all activities directed to sourcing of necessary raw materials, producing, processing, packaging, labeling, quality assurance testing, release of a Licensed Product or Licensed Product candidate, whether for Development or Commercialization. When used as a verb, “Manufacture” means to engage in Manufacturing.

  • Clinical Studies means human clinical trials for a Licensed Product and any other tests and studies for a Licensed Product in human subjects.