Net Product Revenue definition
Net Product Revenue means, as of a date of determination, product revenue (determined under GAAP) with respect to sale of ordinary course product and service offerings of Borrower and its Subsidiaries and related services directly sold with such product and service offerings, in each case determined in a manner consistent with the financial statements delivered to Collateral Agent on or prior to the Effective Date (including, for the avoidance of doubt, revenue from the discontinued operations of Vapo/Acess and Respricare); provided that any revenue associated with any Acquisition shall only contribute to Net Product Revenue to the extent such revenue is actually received following the consummation of such Acquisition and otherwise qualifies as Net Product Revenue.
Net Product Revenue means, for any period, (a) the consolidated gross revenues of Borrowers and their Subsidiaries generated solely through the commercial sale of all Products by Borrowers and their Subsidiaries in the Ordinary Course of Business during such period, less (b) (i) sales of Products whose specifications are owned by the customer and are sold through a contract manufacturing services agreement, (ii) sales of sports medicine, cancellous bone and cervical spacer Products, (iii) trade, quantity and cash discounts allowed by Borrower or its Subsidiaries, (iv) discounts, refunds, rebates, charge backs, retroactive price adjustments and any other allowances which effectively reduce net selling price, (v) product returns and allowances, (vi) allowances for shipping or other distribution expenses, (vii) set-offs and counterclaims, and (viii) any other similar and customary deductions used by Borrower or its Subsidiaries in determining net revenues, all, in respect of (a) and (b), as determined in accordance with GAAP and in the Ordinary Course of Business.
Net Product Revenue means, with respect to Borrower and its Subsidiaries who are Guarantors (including Subsidiaries acquired by Borrower who become Guarantors in connection with a Permitted Investment), product revenue (determined under GAAP) of Borrower’s and such Subsidiaries’ sale (either directly or through a lease or distribution arrangement and solely to the extent reported as revenue on Borrower’s consolidated financial statements) to non-Affiliates in the ordinary course of business of its products and related services directly sold in connection with such products, including, for the avoidance of doubt revenue in connection with NeuroStar® Advanced Therapy Systems and upgrades thereto, NeuroStar Treatment Sessions (whether on a “per click” or capitated basis), TrakStar Cloud and service contracts, but excluding, in each case, revenue (a) in connection with any one time or extraordinary transactions, (b) attributable to licensing, collaboration or similar arrangements (including for the avoidance of doubt Permitted Licenses), (c) related to the sale of assets other than products in the ordinary course of business, (d) any revenue related to the leasing or distribution of products and services other than in each case the sale of inventory and related services through leasing or distribution arrangements that would otherwise constitute ordinary course of business sales of such products and services, (e) from any royalty, collaboration, commission or similar arrangement, and (f) without duplication, any other transaction (unless specifically specified in this proviso) that would not be an arms-length sales transaction entered into in the ordinary course of business. For the avoidance of doubts, Transfers of products and services to HCA under the HCA Agreement are deemed to be a sale to a Non-Affiliate in the ordinary course of business.
Examples of Net Product Revenue in a sentence
At any time and from time to time during the Commitment Period, the Company may deliver a Put Notice to Investor, subject to the conditions set forth in Section 7.2. On the Put Date the Company shall deliver to Investor's brokerage account the Put Shares referenced in the Put.
Prior to the funding of any Tranche 4 Advance, Borrower shall deliver to Agent a calculation detailing the Net Product Revenue Ratio and demonstrating compliance with the Tranche 4 Draw Conditions in form and substance reasonably acceptable to Agent.
Permit Net Product Revenue, measured on the last day of each month (commencing with the month ending August 31, 2022) on a trailing six-month basis, to be lower than the Net Product Revenue set forth opposite the applicable month as provided on Schedule 7.13(a).
September 2022For the Measurement Periods ending between the October 31, 2024 through December 31, 2025 $26,080,351Permit Net Product Revenue, measured on a trailing twelve-month basis, to be lower than the value equal to 106% of actual Net Product Revenue, measured on a trailing twelve-month basis, as of the month ending twelve (12) months prior to such date of determination.
Commencing with the Defined Period ending on December 31, 2017, Borrower shall not permit its consolidated Net Product Revenue for such Defined Period and for each Defined Period ending on the last day of a fiscal quarter thereafter, to be less than (a) for a Defined Period ending prior to the Term Loan Tranche 2 Funding Date, $100,000,000 or (b) for a Defined Period ending on or after the Term Loan Tranche 2 Funding Date, $120,000,000.
More Definitions of Net Product Revenue
Net Product Revenue means the revenue, determined in accordance with GAAP, from the sale of any products of Borrower or its Subsidiaries, inclusive of Borrower’s share of sales generated indirectly through the sales of Borrower’s products under any licensing or similar arrangement and which amounts are included in the net product revenue of Borrower in accordance with GAAP.
Net Product Revenue means, with respect to the Loan Parties, product revenue (determined under GAAP) with respect to the sale of surgical devices and products of the Borrower and its Subsidiaries. For the avoidance of doubt, Net Product Revenue excludes any Consulting Royalties and any other royalties.
Net Product Revenue means, as of any date of determination or applicable period, net product revenue (as determined in accordance with GAAP) from the sale of Tivozanib (which for the avoidance of doubt shall not include any royalty, profit sharing, or milestone revenue) in the United States. For the further avoidance of doubt, when calculating “Net Products Revenue” the tiered royalties Aveo would owe to KKC on annual net sales of Tivozanib, which are classified as “cost of goods sold” in accordance with GAAP, shall not be deducted.
Net Product Revenue means, with respect to Borrower and its Subsidiaries who are Guarantors (including Subsidiaries acquired by Borrower who become Guarantors in connection with a Permitted Investment), product revenue (determined under GAAP) of Borrower’s and such Subsidiaries’ sale (either directly or through a lease or distribution arrangement and solely to the extent reported as revenue on Borrower’s consolidated financial statements) to non-Affiliates in the ordinary course of business of its products and related services directly sold in connection with such products, including, for the avoidance of doubt revenue in connection with NeuroStar® Advanced Therapy Systems and upgrades thereto, NeuroStar Treatment Sessions (whether on a “per click” or capitated basis), TrakStar Cloud and service contracts, but excluding, in each case, revenue (a) in connection with any one time or extraordinary transactions, (b) attributable to licensing, collaboration or similar arrangements (including for the avoidance of doubt Permitted Licenses), (c) related to the sale of assets other than products in the ordinary course of business, (d) any revenue related to the leasing or distribution of products and services other than in eachcase the sale of inventory and related services through leasing or distribution arrangements that would otherwise constitute ordinary course of business sales of such products and services, (e) from any royalty, collaboration, commission or similar arrangement, and (f) without duplication, any other transaction (unless specifically specified in this proviso) that would not be an arms-length sales transaction entered into in the ordinary course of business. For the avoidance of doubts, Transfers of products and services to HCA under the HCA Agreement are deemed to be a sale to a Non-Affiliate in the ordinary course of business.
Net Product Revenue means net product revenue of the Borrower and its Subsidiaries, as determined in accordance with GAAP, that is generated solely from the sale of RP1 (which, for the avoidance of doubt, shall include sales, royalty, profit sharing, co-development, co-promotion and co-commercialization revenues recognized in accordance with GAAP, but which shall not include any revenue that is milestone-based or any other one-time or non-recurring revenue).
Net Product Revenue means for any period of measurement, the aggregate net revenue of Parent or any of its Subsidiaries from worldwide commercial sales of CONTEPO, lefamulin or other Borrower Products (including royalty revenue from the sale of such products in geographies in which such products have been outlicensed) reflected in the Forecast, in each case, on a consolidated basis as determined in accordance with GAAP for such period. “Net Product Revenue” does not include upfront business development proceeds and business development milestones.
Net Product Revenue means, for any period of measurement, the aggregate revenue of Borrower and any of its Subsidiaries from sales (including without limitation, through licensing, collaboration or similar arrangements) of Borrower Products (including royalties) on a consolidated basis as determined in accordance with GAAP for such period. “Net Product Revenue” does not include any upfront payments, clinical development milestone payments or regulatory milestone payments from a licensing transaction; provided that, for the avoidance of doubt, any payments in connection with the sale of Borrower Products that are comingled or paid along with such upfront, milestone or regulatory payments shall not be excluded.