Examples of Launch Stock in a sentence
Customer may terminate this Agreement for any reason prior to production of the Minimum Launch Stock.
Customer may terminate this Agreement for any reason after production of the Minimum Launch Stock without incurring any additional fees or costs upon ninety (90) days written notice or immediately if Encap is not able to meet Customer’s reasonable requirements of Product.
Following delivery of the Launch Stock Purchase Order, but no later than 30 days prior to Commercialization, Customer shall submit to Encap a good faith, estimated twelve (12) month rolling forecast of the quantity of Product Customer expects to order for production commencing with the month following the month in which such forecast is provided (“Forecast”).
Section 4.4 Launch Stock of the Supply Agreement is hereby deleted and replaced with a new Section 4.4 that reads as follows: “Launch Stocks.” At least [*****] prior to an anticipated Regulatory Approval in a Major Market Country, the Parties shall discuss and agree upon the manufacture and purchase of specific quantities of Launch Stocks for the launch of Product in the applicable Major Market Country.
Encap shall be entitled to terminate this Agreement without any penalty if Customer (i) has not submitted a firm order for the Minimum Launch Stock within [***] days from the date Customer receives FDA approval to begin commercialization of the Product or (ii) breaches its payment obligations [***] during the Term, provided that with respect to any breach of a payment obligation, Customer shall have [***] days to cure such breach from the date of written notification from Encap that a breach has occurred.
The Launch Stock (including the Minimum Launch Stock, as applicable) will be released on an on-going basis for secondary packaging in accordance with the delivery dates specified in the applicable Purchase Order.
Encap shall use commercially reasonable efforts to fulfill the Launch Stock Purchase Order and each subsequent Purchase Order.
Encap shall deliver the Minimum Launch Stock no later than [***].
Encap shall notify Customer immediately in writing if at any time Encap has reason to believe that it will not be able to fill the Minimum Launch Stock Purchase Order.
If Customer terminates this Agreement for any reason, except due to Encap’s breach, prior to production of the Minimum Launch Stock, Customer will pay Encap a termination fee of [***] plus the following costs: (i) all documented costs related to purchases of raw materials that have been purchased (a) pursuant to a confirmed purchase order or (b) upon consent of Customer; (ii) testing costs; (iii) empty capsules; and (iv) work in progress.