Key Territories definition
Examples of Key Territories in a sentence
All documents filed or recorded with a patent office or other relevant intellectual property registry for registration, recordation or issuance of Material IP Rights in each of the Key Territories have been duly and properly filed and recorded.
Each of the Borrower and the Subsidiaries, have, since taking title to the Material IP Rights, performed all acts and have paid all required annuities, fees, costs, expenses and taxes to maintain the Material IP Rights in full force and effect in each of the Key Territories, as applicable, or have caused others to do the same.
Key Territories means the USA, UK, Germany, France, Spain and Italy.
Paladin shall, at its sole cost, use Commercially Reasonably Efforts to Commercialize in each of the Key Territories in compliance with applicable Law.
With respect to the Key Territories only, Somaxon may terminate this Agreement on a country-by-country basis upon 60 days’ prior written notice if a First Commercial Sale has not occurred in the applicable country in the Key Territory within 12 months of the date on which Marketing Approval is obtained in such country.