Examples of Licensed Product in a sentence
Under the license granted pursuant to this Section 2.1, Licensee shall be permitted to authorize the use of the Licensed Product by its customers.
Net Sales shall not include sales between or among Licensee and its Affiliate; provided that if Licensee sells a Licensed Product to an Affiliate for resale, Net Sales shall include sales by such Affiliate in accordance with GAAP in connection with the resale of such Licensed Product to a Third Party.
Licensee, within forty five (45) days after the end of each Calendar Quarter, shall deliver to Licensor a report setting forth for such Calendar Quarter the following information, on a Licensed-Product-by-Licensed-Product basis: (a) the Net Sales of each Licensed Product, (b) the cumulative Net Sales of Licensed Products occurring since the start of the applicable Calendar Year and since the Effective Date, and (c) the royalties due hereunder for such Net Sales of each Licensed Product.
Subject to the terms and conditions of this Agreement, Licensor hereby grants to Licensee and its Affiliates an exclusive, royalty-bearing license to make, have made, use, import, export, offer for sale, sell and otherwise commercialize Licensed Product in the Territory.
In the event that Licensee does not pay the license fee to Licensor as provided in this Section 3.1, Licensee’s license rights under the Licensed Product pursuant to this Agreement shall be terminated after written notice and Licensee’s failure to cure within thirty (30) days of such notice.