Sale PRV definition

Sale PRV means a priority review voucher obtained by the Purchaser in connection with the FDA Approval of a Royalty Product (excluding for these purposes any PRV obtained in connection with OTL-101);
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Examples of Sale PRV in a sentence

  • The Seller shall, within [***] of receipt of notice from the Purchaser, either (i) confirm it wishes to acquire the Sale PRV, or (ii) confirm that it does not wish to acquire the Sale PRV provided that if no notice has been received by the Purchaser from the Seller by the end of such [***] period, the Seller shall be considered to have confirmed that it does not wish to acquire the Sale PRV.

  • The Purchaser shall, at least once every [***], and in any event on reasonable request of the Seller, inform the Seller of the status of any such Sale PRV process.

  • The Purchaser shall transfer legal ownership to the first such Sale PRV that it receives to the Seller.

  • For the avoidance of doubt, other than the first such Sale PRV which shall be subject to the terms of this clause 12.1, the Purchaser or its Affiliates shall retain full ownership of any other PRV(s) obtained at any time, subject to the Seller’s right of acquisition set out in clause 12.3.