Examples of IDENTIFIED PRODUCT in a sentence
For purposes of clarity, these milestones are for development of LICENSED PRODUCTS or LICENSED PROCESSES that are NOT used in conjunction with an IDENTIFIED PRODUCT.
COMPANY shall pay to THE PARTIES the amounts below upon achievement by COMPANY or its AFFILIATES or its SUBLICENSEES of certain milestone events as set forth in the table below for each IDENTIFIED PRODUCT.
Prior to the first commercial sale of any LICENSED PRODUCT or IDENTIFIED PRODUCT or first commercial performance of any LICENSED PROCESS, COMPANY shall deliver reports to XXXXXXXXX [**], within [**] days of the end of [**], containing information concerning the immediately preceding [**], as further described in Section 5.2.
SALE or SOLD means the transfer or disposition for value of a LICENSED PRODUCT or IDENTIFIED PRODUCT to a party other than LICENSEE or AFFILIATE.
If COMPANY, AFFILIATES, or SUBLICENSEES shall own or otherwise control a REGULATORY VOUCHER that is granted based on approval of a LICENSED PRODUCT and/or LICENSED PROCESS and/or IDENTIFIED PRODUCT, then COMPANY shall notify M.I.T. within Thirty (30) days of the granting of a REGULATORY VOUCHER to COMPANY or any of its AFFILIATES or SUBLICENSEES.