Examples of Licenced Product in a sentence
If Licensee becomes aware of any adverse reaction relating to Licenced Product in connection with this Agreement, Licensee shall inform MPP and Pfizer within twenty-four (24) hours of its becoming aware and cooperate with Pfizer in fulfilling Pfizer’s reporting responsibilities under Applicable Law.
If Licensee becomes aware of any adverse reaction relating to Licenced Product in connection with this Agreement, Licensee shall inform MPP and Shionogi within 24 hours of its becoming aware and cooperate with Shionogi in fulfilling Shionogi's reporting responsibilities under Applicable Law.
Where Licenced Product can only be lawfully sold or otherwise supplied in a country of the Territory by a Local Distributor, and an Approved Affiliate of the Licensee cannot act as such Local Distributor pursuant to Clause 3.2, the Licensee may submit a written request to the Licensor to use a Third Party that is not an Affiliate as a Local Distributor in such country.
Licensor also does not give any warranty, express or implied, with regard to the safety or efficacy of the Compound, or Product and it shall be the sole responsibility of Licensee to ensure such safety or efficacy with regard to the Licenced Compound and Licenced Product.
On a Licenced Product-by-Licenced Product basis, the Company may, at its election, terminate this Agreement with respect to such Licenced Product immediately upon written notice to the University as a result of a safety concern, toxicity or drug safety issue or a serious adverse event reasonably related to or observed in connection with the development or commercialization activities relating to and arising from use of a Licenced Product.
Successful fundraising and initiation of development of a Non-Topical Licenced Product in line with the current Development Plan within [***] from the Effective Date will be considered a Commercially Reasonable Effort towards the development of a Non-Topical Licenced Product for the initial [***] period from the Effective Date.
Such share shall be determined having regard to the development stage which the Licencee (or its Sub-Licencee) has reached at the date of termination in respect of the Licenced Product.
Other Milestone Payments may be triggered by a second or further Licenced Product in respect of an Indication, unless such Milestone Event has already been triggered by a preceding Licenced Product in that same Indication.
The term of this Agreement shall, on a Licenced Product-by-Licenced Product basis, be the period from the Commencement Date until the end of the Royalty Term as to such Licenced Product and the expiration of all of the payment obligations hereunder (including, for clarity, Milestone Payments) (the “Term”), after which the licence granted in Clause 3 will become fully paid-up and perpetual.
Upon expiration of this Agreement with respect a given Licenced Product and country, (i) the Licence granted to the Licencee hereunder with respect to such Licenced Product and country shall become fully paid-up, perpetual and irrevocable, and (ii) Net Sales associated with such Licenced Product and country shall no longer be considered for purposes of calculating royalty tiers or commercial milestones.