Examples of Ready Date Notice in a sentence
The Buyer must nominate the Vessel no later than fourteen (14) days after receipt of the Ready Date Notice and the Vessel must commence its voyage to the Port of Loading no later than ten (10) days thereafter.
The list includes the statutory references for the revenue and provides a crosswalk to Form 52 and the applicable UFARS code used by the Districts.
Such Ready Date Notice, which was issued without the fulfilment of requisite conditions, was ab-initio void and non-enforceable and no relinquishment or selective waiver could have been affected on the basis of such Notice.
BP USA had filed a complaint with US District Court on 29.11.2011 wherein mention was made of Ranbaxy’s letter dated 28.11.2011 whereby Ranbaxy has refused to acknowledge receipt of Ready Date Notice and asserted that the same was invalid.
From the documents on record and the sequence of events, it was quite clear that BP USA did not have any right to legally compel Ranbaxy to relinquish/selectively waive its First to File Exclusivity (“FFE”) rights in favour of BP USA by issuing a valid Ready Date Notice (which was issued on 23.11.2011) as the tentative approval was received by BP USA only on 1 December 2011.
As discussed earlier BP had filed a complaint with US District Court on 29.11.2011 wherein mention was made of Ranbaxy’s letter dated 28.11.2011 whereby Ranbaxy had refused to acknowledge the receipt of Ready Date Notice and had asserted that the same was invalid.
Neither the initial launch quantities, as agreed in the original agreement, were manufactured by BP USA nor the Ready Date Notice was issued after obtaining the tentative approval of BP’s ANDA.
The Applicant has submitted that the original agreement was duly acted upon by BP as it had paid the commitment fees, filed PLAIR with US FDA, had obtained approval for import of initial launch quantity and thereafter had issued a Ready Date Notice to Ranbaxy to effect selective waive/relinquishment of the exclusivity period.
On the contention of the Revenue regarding the conditions for the Ready Date Notice, it was submitted that the twin conditions for issuing the Ready Date Notice were duly met by BP as it had already manufactured the initial launch quantities in Israel and obtained approval from the US FDA to import a part of the initial launch quantities in the US which also confirmed that its ANDA was eligible for final approval.
It is thus found that the second condition for issue of Ready Date Notice was fulfilled only on 01st December 2011 when the tentative approval was received and only thereafter the Notice could have been validly issued.