Examples of SpinCo Product in a sentence
If SpinCo receives a complaint from a customer or user with respect to any SpinCo Product, which complaint appears to have a connection to a Product incorporated into such SpinCo Product, SpinCo will promptly provide notice thereof to Parent and cooperate with Parent to fully evaluate the complaint and its related circumstances.
SpinCo also has been and will be solely responsible for designing and validating its processes relating to or affecting the Product and SpinCo Product, including all such processes relating to the filling, handling, storing, or packaging of Product or SpinCo Product by SpinCo and its contractors.
Unless Parent is restricted, by applicable Laws or existing contractual obligations, from supplying Product to SpinCo for incorporation into such Potential Additional SpinCo Product, such Potential Additional SpinCo Product shall become a SpinCo Product and the Parties shall update Exhibit C to include such new SpinCo Product.
SpinCo is solely responsible for assuring the sterility of the SpinCo Product (including the Product) when ultimately sold or distributed by SpinCo.
If, notwithstanding the foregoing, SpinCo or any of its Affiliates or third party manufacturers, or transferees of SpinCo Product from any of the foregoing, engages in a Non-Conforming Use, SpinCo shall, as between Parent and SpinCo, assume all risk and responsibility associated with such Non-Conforming Use.
SpinCo shall pay to Parent a quarterly royalty of two percent (2%) of Net Sales of each finished SpinCo Product (e.g., pen needles, syringes, etc.) manufactured using a Third Party sourced cannula and on a manufacturing line incorporating or designed or built using Manufacturing Line IP (such finished products, “Royalty Products”).
SpinCo will have the sole discretion to effect and control any recall, withdrawal, or field correction (each, a “Field Action”) with respect to any SpinCo Product sold on or after the Effective Date.
Failure to comply with the requirements for the Licensed SpinCo Product as set forth in this Section 2.1(a) shall constitute a material breach of this Agreement and shall be subject to the terms of Section 9.2.
Without limiting the foregoing, (i) no use of the Licensed 3M Trademarks or the Licensed Scotch Derivative Trademarks shall be permitted except as provided in this Agreement, (ii) no rights to any other Trademarks are granted, and (iii) no use of any Licensed 3M Trademark or any Licensed Scotch Derivative Trademarks shall be permitted on any product that is not a Licensed SpinCo Product.