Examples of Mayo Agreement in a sentence
Notwithstanding any provision in this Agreement, and except as already provided for under the Mayo Agreement or the License Agreement or otherwise, Accentia is acquiring only the Royalty Stream and is not assuming any liability or obligation of BDSI of whatever nature, whether presently in existence or arising or asserted hereafter.
The copy of the Mayo Agreement as provided by Accentia to BDSI is true, correct and complete.
To Accentia’s knowledge, Mayo is in compliance with the Mayo Agreement, and Accentia has no reason to believe that Mayo does not intend to comply with its obligations pursuant to the Mayo Agreement.
Accentia is in compliance the Mayo Agreement and is not in breach of its obligations with respect thereto.
The Mayo Agreement is in full force and effect and Accentia has all rights under the Mayo Agreement to develop and commercialize the Products and receive payments from Mayo as contemplated by the Mayo Agreement.
Upon the LLC’s Merger with the Company on October 27, 2016, the rights under the 2014 Mayo Agreement transferred to the Company, and certain milestones were attained.
Additionally, if the LLC was successful in obtaining regulatory approval, the LLC was to pay royalties to Mayo based on a percentage of net sales of products of the licensed technology through the term of the 2014 Mayo Agreement, set to expire May 25, 2037.
The Parties hereby agree and acknowledge that Mayo (on behalf of itself and the Regents of the University of California) has reserved the right, pursuant to Section 2.03 of the Mayo Agreement, to manufacture, have manufactured or use any Products or R-Flurbiprofen Products under the Patent Rights (each as defined in the Mayo Agreement) solely for educational and research programs.
In the 2017 Mayo Agreement, the Company agreed to issue 50,556 shares of common stock to Mayo to settle the amount of common stock the Company was previously obligated to issue under the 2014 Mayo Agreement and to amend the terms of the 2014 Mayo Agreement.
In addition, in April 2017, the Company issued from the Plan 12,666 shares of restricted common stock with performance vesting conditions.The 2014 Mayo Agreement was subsequently amended and restated in May 2017.