Specified Company Products definition
Examples of Specified Company Products in a sentence
Each Seller hereby acknowledges and agrees that effective upon the occurrence of the Closing, the Company (as a subsidiary of Buyer) will have the sole and exclusive ownership of the Intellectual Property underlying the Specified Company Products and the unconditional right to manufacture the Specified Company Products but only in the manner manufactured by the Company as of the Effective Date.
For the avoidance of doubt, each Seller acknowledges and agrees that the utilization of the Company’s manufacturing plant, in and of itself, by Buyer and its Affiliates after the Closing to manufacture the Specified Company Products, but only to the extent manufactured as of the Effective Date, shall not be deemed to infringe upon any of the Intellectual Property of any Seller.
To the Knowledge of the Company and Seller, neither the Company Intellectual Property in whole or in part nor any of the Specified Company Products infringe, misappropriate, dilute or violate any intellectual property rights owned or controlled by any other Person.
Except as set forth in Section 3.19(b) of the Seller Disclosure Letter, each of the Specified Company Products are (i) produced or manufactured in compliance in all material respects with applicable Law and (ii) not adulterated or misbranded within the meaning of any applicable Law.
Section 3.19(e) of the Seller Disclosure Letter contains a complete and accurate list of all clinical trials sponsored or conducted by Seller or the Company that have been conducted or are currently being conducted with respect to the Specified Company Products.
With respect to the Business and Specified Company Products, there is no act, omission, event, or circumstance that would reasonably be expected to constitute or result in (x) any Legal Proceeding; (y) a material violation; or (z) a failure to comply relating to compliance with any Healthcare Law, by the Company or Seller, or any of their respective officers, directors, managers, employees, or to the Company’s Knowledge, Affiliates, agents or contractors of the Company or Seller.