Opted Out Party definition

Opted Out Party has the meaning set forth in Section 7.5.
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Opted Out Party means a Party that has elected to opt out of Development and Commercialization in accordance with any of the clauses of Section 3.7(a).
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Examples of Opted Out Party in a sentence

  • The Continuing Party shall make quarterly reports to the Opted Out Party, and shall maintain records and grant access thereto, regarding the payments required hereunder in the same manner as provided in Section 3.1 of Schedule B hereto and Section 6.5 hereof, respectively.

  • In the event either Party Opts Out of a particular Product in a particular Future Indication and does not Opt Back In as provided herein (the "Opted Out Party"), the other Party (the "Continuing Party") shall pay the Opted Out Party a royalty of (i) if Alexion is the Opted Out Party, [*] of Gross Sales in the Territory of such Product in such Future Indication and (ii) if XOMA is the Opted Out Party, [*] of Gross Sales in the Territory of such Product in such Future Indication.

  • In the event either Party Opts Out of a particular Product in a particular Future Indication and does not Opt Back In as provided herein (the “Opted Out Party”), the other Party (the “Continuing Party”) shall pay the Opted Out Party a royalty of (i) if Alexion is the Opted Out Party, [*] of Gross Sales in the Territory of such Product in such Future Indication and (ii) if XOMA is the Opted Out Party, [*] of Gross Sales in the Territory of such Product in such Future Indication.

  • In the event either Party Opts Out of a particular Product in a particular Region and does not Opt Back In as provided herein (the "Opted Out Party"), the other Party (the "Continuing Party") shall pay the Opted Out Party a royalty in an amount [*] of Net Sales of such Product in such Region.