First Licensed Product definition
Examples of First Licensed Product in a sentence
For clarity, in the event that the applicable Licensed Product is not the First Licensed Product (as defined in Section 13.7.2(b)), then the principles set forth above shall apply to the applicable payment amounts as adjusted subject to [*].
LICENSEE shall provide CMCC with a Notice of Intent to Commercialize the first Licensed Product ("First Licensed Product") upon the Effective Date.
None of the Servicer, the Special Servicer and Trustee shall be responsible for any loss, cost, damage or expense to the Trust Fund resulting from any failure to receive any document constituting a portion of a Mortgage File noted on such a report or for any failure by the Depositor to use its best efforts to deliver any such document.
CMCC shall have the right to terminate this Agreement pursuant to Section 13.4 with respect to one or more Licensed Products except the First Licensed Product ("Other Licensed Product(s)"), if LICENSEE fails to attain any of the above milestones with respect to such Other Licensed Product(s) or if it suspends its diligence in meeting of any of the above milestones for more than three (3) months with respect to such Other Licensed Product(s) because of Business Circumstances.
No Milestone Payment shall be paid more than once for the First Licensed Product.