Sales Level Estimate definition
Sales Level Estimate means Licensee’s good faith forecast of its projected Net Sales of the Product in the Territory for the relevant Sales Year.
Examples of Sales Level Estimate in a sentence
The Sales Level Estimate for each following Sales Year thereafter shall be discussed and agreed between the Parties no later than three (3) months prior to the expiry of the fifth (5th) Sales Year or any subsequent Sales Year thereafter.
Licensee may provide the initial Sales Level Estimate to be recorded on Exhibit C pursuant to Section 8.5 as the first such sales plan.
Without prejudice to Licensee’s undertaking in Section 8.1 with respect to Commercializing the Product for use in the Field in the Territory, Licensee agrees that, during each Sales Year, a minimum sales level shall be at least sixty percent (60%) of the Sales Level Estimate set for such Sales Year (the “Minimum Net Sales”).