Examples of Licenced Product in a sentence
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.
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.
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.
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.
Subject to the provisions of this Clause 13 it will remain effective, on a Licenced Product-by-Licenced Product, in each country of the Territory until expiry of the obligation upon the Licencee to pay royalties in relation to that country and Licenced Product pursuant to Clause 4.5 and 4.6 of this Agreement.
In consideration of the Licensor granting this licence to the Licensee, the Licensee agrees that if the Licensee or any of its Affiliates makes or obtains any non-patented Improvement related to the Licenced Product during the term of this Agreement, the Licensee shall disclose and shall cause its Affiliates to disclose same to the Licensor.
Upon expiry of Virpax’s exclusive position with respect to a Licenced Product in a country, Virpax’s licence with respect to such Licenced Product in such country shall become non-exclusive, fully paid-up, perpetual and irrevocable and the Net Sales of such Licenced Product in such country shall be excluded from all Net Sales calculations in Article 7 (including the calculation of royalties, thresholds and ceilings).
For the avoidance of doubt, Virpax shall not be obligated to obtain Health Registration Approval for, or commercialise, more than one Licenced Product in any Major Market.
The composition of the active pharmaceutical ingredient of the Licenced Product known as CRT0422839/TEV-47448 is claimed in the Program Patents (including in one of US Patent Nos.
Noven shall (a) manufacture the Licenced Product through the stage of production of bulk rolls of active pharmaceutical product, (b) test, prepare and package such bulk rolls, and (c) supply and deliver them to RPR's facility in Nenagh, Ireland, or such other RPR facility as RPR shall designate.