Royalty Region definition
Examples of Royalty Region in a sentence
The Participating Party shall Commercialize such Unilateral Product in the Royalty Region in a manner consistent with the applicable key distinctive colors, logos, images, and symbols, and, subject to Section 8.3(b), the Product Trademarks developed by the applicable JMC for Commercialization of the Joint Product in the Profit Share Region.
Each payment of royalties due to the other Party shall be accompanied by a statement of the amount of gross sales and Net Sales (and the calculations thereof) of each Unilateral Product in each country in the Royalty Region during the applicable Calendar Quarter (including such amounts expressed in local currency and as converted to Dollars) and a calculation of the amount of royalty payment due on such Net Sales for such Calendar Quarter.
The Participating Party shall be solely responsible for handling all returns, recalls, or withdrawals, order processing, invoicing, collection, distribution, and inventory management with respect to the Unilateral Product in the Royalty Region.
The Participating Party shall be solely responsible for invoicing and booking sales, establishing all terms of sale (including pricing and discounts) and warehousing and distributing the Unilateral Product in the Royalty Region and shall perform all related services, in each case, in a manner consistent with the terms and conditions of this Agreement.
As between the Parties, the Participating Party shall be solely responsible, at its sole expense, to Manufacture (or have Manufactured) and supply the applicable Product Candidate and Unilateral Product for clinical use and commercial sale and distribution in the Royalty Region by the Participating Party and its Affiliates and sublicensees, except to the extent otherwise agreed by the Parties.
With respect to Commercialization of Unilateral Products in a Royalty Region, such Patent Costs shall be borne solely by the Participating Party Commercializing the Unilateral Product in such Royalty Region.
With respect to a Unilateral Phase III Plan for a Unilateral Product in an Indication for a Royalty Region, the applicable Participating Phase III Party shall be the Lead Development Party and Lead Regulatory Party with respect to the Development activities under such Unilateral Phase III Plan (including with respect to the preparation and filing of all Drug Approval Applications for such Unilateral Product in such Indication in such Royalty Region).
In particular, and without limiting the foregoing, the Participating Party shall in all respects comply with Applicable Law concerning the advertising, sales and marketing of prescription drug products in Commercializing the Unilateral Product in the Royalty Region under this Agreement, including the FCPA and any applicable local anti-bribery laws.
In the event such claim is brought against a Unilateral Product in a Royalty Region, the Participating Party with respect to such Unilateral Product shall have the first right, but not the obligation, to defend and control the defense of any such claim using counsel of its own choice at its sole expense.
In the event that the Unilateral Product is also a Joint Product in a Profit Share Region and the Non- Participating Party for the Unilateral Product in the Royalty Region is the Lead Manufacturing Party for such Product in the Profit Share Region, the Participating Party for such Product shall have the right to request such Lead Manufacturing Party to supply such Product for the Development or Commercialization of such Product in the Royalty Region.