Net Commercialisation Income definition

Net Commercialisation Income means: royalties, licence fees and other income received from the Commercialisation of Project Outputs; less the costs of protection, prosecution or maintenance of formal Intellectual Property rights and reasonable costs of commercialisation incurred in connection with the Project Outputs, as agreed by the Owning Parties.
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Net Commercialisation Income means Commercialisation Income for a period in relation to particular Centre IP less payments or reimbursements of Commercialisation Expenses pursuant to clause 24.9 for that period for that Centre IP. Nominated Commonwealth Agreement Clauses means the clauses of the Commonwealth Agreement specified in item 5 of the Centre Details.
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Net Commercialisation Income means Commercialisation Income for a period in relation to Project IP less payments or reimbursements of Commercialisation Expenses pursuant to clause 40 for that period.
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Examples of Net Commercialisation Income in a sentence

  • GRDC will be responsible for notifying and distributing such shares of Net Commercialisation Income to non-Owning Parties as and when they arise, subject to receiving a tax invoice from the non-Owning Party in accordance with GRDC's notice.

  • GRDC will be responsible for notifying and distributing such shares of Net Commercialisation Income to non- Owning Parties as and when they arise, subject to receiving a tax invoice from the non-Owning Party in accordance with GRDC's notice.

  • The Parties will share the Net Commercialisation Income derived from Commercialisation of Project Outputs in proportion to their Beneficial Interest in the Project Outputs.

  • Any sums recovered with respect to any such Enforcement Action shall be applied first to reimburse out-of-pocket expenses incurred by the Lead Party and Supporting Party relating to the Enforcement Action and the remaining sums shall be deemed Net Commercialisation Income hereunder and shall be shared by the Parties as set forth in the definition for Share.

  • The remaining amount in Commercialisation Income, if any, constitutes the Net Commercialisation Income, which shall be apportioned between the Parties in accordance with their Share.

  • If, after review of the Lead Party’s records under clause , a shortfall is identified in the Net Commercialisation Income which was recorded in statements provided under clause , the Lead Party will pay to the Supporting Party its Share of that shortfall within 30 (thirty) days.

  • Alternatively, the Lead Party may arrange for any Net Commercialisation Income owing to the Supporting Party to be paid to the Supporting Party directly by any licensee out of the monetary proceeds from Commercialisation of the IPRs. Pursuant to reimbursement of Commercialisation Costs, the Parties may mutually agree to hold all or a portion of any remaining Net Commercialisation Income in anticipation of future Commercialisation Costs.

  • GRDC will be responsible for notifying and distributing such shares of Net Commercialisation Income to non- Owners as and when they arise, subject to receiving a tax invoice from the non-Owner in accordance with GRDC's notice.

  • This report shall include a detailed schedule of Commercialisation Costs incurred to date as well as any Commercialisation Income; and collect money payable under the Exploitation Agreements; and distribute the Share in Net Commercialisation Income due to the Supporting Party.

  • An accounting error in excess of 5% resulting in a shortfall in payment of Net Commercialisation Income to the Licensor will be considered to be an error of substance.


More Definitions of Net Commercialisation Income

Net Commercialisation Income means Commercialisation Income less payments or reimbursements of all Commercialisation Costs; and the Commercialisation Handling Fee as contemplated in clause 8 hereinbelow;
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Related to Net Commercialisation Income

  • Commercialisation means any and all activities directed to the preparation for sale of, offering for sale of, or sale of a product, including activities related to marketing, promoting, distributing, importing and exporting such product. When used as a verb, “to Commercialise” and “Commercialising” means to engage in Commercialization, and “Commercialised” has a corresponding meaning.

  • Commercializing means to engage in Commercialization and “Commercialized” has a corresponding meaning.

  • Collaboration Product means a pharmaceutical product containing or comprising Compound in any dosage form alone, or in combination with, one or more other pharmaceutically active ingredients, and any and all Improvements thereto.

  • Commercialization or “Commercialize” means activities directed to marketing, promoting, research and development as required, manufacturing for sale, offering for sale, distributing, importing or selling a product, including sub-licensing or sub-contracting of these activities.

  • Commercialization Costs means the out-of-pocket costs and expenses incurred by Adapt or its Affiliates directly attributable to, or reasonably allocable to, the Commercialization of a Product. Commercialization Costs for a Product shall include, preparation of promotional, advertising, communication, medical, and educational materials relating to the Product and other Product literature and selling materials, activities directed to marketing of the Product, including purchase of market data, development and conduct of market research, advertising, public relations, public affairs and other communications with Third Parties regarding the Product; development and conduct of sales force training (including materials, programs and travel to and attendance at training programs) for medical representatives responsible for promoting the Product; and development and maintenance of sales bulletins, call reporting and other monitoring/tracking, sales force targeting, validation and alignment programs and documentation.

  • U.S. Territory means American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico, or the U.S. Virgin Islands.

  • Commercialise means to promote, market, distribute, sell and/or otherwise commercialise a product, and Commercialising and Commercialisation shall be construed accordingly;

  • Adult exploitation means the illegal use of an incapacitated adult or his resources for another's

  • COGS means the cost of goods sold as determined in accordance with U.S.GAAP;

  • Manufacturing Cost means ***

  • Diagnostic Product means any test or assay for diagnosing or detecting a disease, disorder, medical condition, or symptom.

  • Licensed Product means a product or part of a product in the Licensed Field of Use: (A) the making, using, importing or selling of which, absent this license, infringes, induces infringement, or contributes to infringement of a Licensed Patent; or (B) which is made with, uses or incorporates any Technology.

  • Phase III Study means a human clinical trial that is prospectively designed to demonstrate statistically whether a product is safe and effective for use in humans in a manner sufficient to obtain regulatory approval to market such product in patients having the disease or condition being studied as described in 21 C.F.R. § 312.21(c) (FDCA), as amended from time to time, and the foreign equivalent thereof.

  • Commercialization Plan has the meaning set forth in Section 6.2.

  • Phase III Clinical Trials means a Clinical Trial for the Product on sufficient numbers of patients to generate safety and efficacy data to support Regulatory Approval in the proposed therapeutic indication, conducted in accordance with current good clinical practices and in accordance with a protocol that has been reviewed by the FDA and reflects any comments or concerns raised by the same.

  • Licensed Compounds means: (a) Research Program Active Compounds; (b) Novartis Active Compounds; (c) salts, hydrates, solvates, esters, metabolites, intermediates, stereoisomers and polymorphs of Research Program Active Compounds or Novartis Active Compounds; and (d) prodrugs of Research Program Active Compounds or Novartis Active Compounds (any of the foregoing, a “Licensed Compound”).

  • Joint Commercialization Committee or “JCC” has the meaning set forth in Section 3.4 (Joint Commercialization Committee).

  • Non-Regulatory Opportunity Cost means the difference between (a) the forecasted cost to operate a specific generating unit when the unit only has a limited number of starts or available run hours resulting from (i) the physical equipment limitations of the unit, for up to one year, due to original equipment manufacturer recommendations or insurance carrier restrictions, (ii) a fuel supply limitation, for up to one year, resulting from an event of Catastrophic Force Majeure; and,

  • Phase IIb Clinical Trial means a clinical trial of a Product on sufficient numbers of patients that is designed to provide a preliminary determination of safety and efficacy of such Product in the target patient population over a range of doses and dose regimens.

  • inherited metabolic disease means a disease caused by an inherited abnormality of body chemistry for which testing is mandated by law;

  • Development Activities means those activities which are normally undertaken for the development, construction, repair, renovation, rehabilitation or conversion of buildings for residential purposes, including the acquisition of property;

  • Massive Multiauthor Collaboration Site (or “MMC Site”) means any World Wide Web server that publishes copyrightable works and also provides prominent facilities for anybody to edit those works. A public wiki that anybody can edit is an example of such a server. A “Massive Multiauthor Collaboration” (or “MMC”) contained in the site means any set of copyrightable works thus published on the MMC site.

  • Licensed Products means tangible materials which, in the course of manufacture, use, sale, or importation, would be within the scope of one or more claims of the Licensed Patent Rights that have not been held unpatentable, invalid or unenforceable by an unappealed or unappealable judgment of a court of competent jurisdiction.

  • Phase III Clinical Trial means a human clinical trial of a product, the design of which is acknowledged by the FDA to be sufficient for such clinical trial to satisfy the requirements of 21 C.F.R. 312.21(c) (as amended or any replacement thereof), or a similar human clinical trial prescribed by the Regulatory Authority in a country other than the United States, the design of which is acknowledged by such Regulatory Authority to be sufficient for such clinical trial to satisfy the requirements of a pivotal efficacy and safety clinical trial.

  • Phase III Trial means a Clinical Trial of an investigational product in subjects that incorporates accepted endpoints for confirmation of statistical significance of efficacy and safety with the aim to generate data and results that can be submitted to obtain Regulatory Approval as described in 21 C.F.R. 312.21(c), or a comparable Clinical Trial prescribed by the relevant Regulatory Authority in a country other than the United States.

  • customs territory means the territory of the country of each Contracting Party in which the Customs laws of that country are in force;