Split Lot definition
Examples of Split Lot in a sentence
Such allocated percentage of a Split Lot that Purchaser shall be responsible for under this Section 8.14(a)(i) shall be equal to the percentage of such Split Lot located at SPS Cord on the Closing Date and such allocated percentage of a Split Lot that Sellers shall be responsible for under this Section 8.14(a)(i) shall equal the percentage of such Split Lot not located at SPS Cord on the Closing Date.
Exhibit N sets forth the lot and batch numbers of Product sold by the Seller identifying (A) that quantity of Product that is within twelve (12) months of such Product’s expiration dating as of the Closing Date and is therefore eligible for return (“Eligible Product”), and (B) that quantity of Product sold by Seller as of the Closing Date from each Split Lot.
However, if such a Recall involves one or more lots of Agreement Product that were distributed and sold both (i) by ALZA or its Affiliates in one or more countries and (ii) by or on behalf of GENUPRO or its Affiliates and/or Sublicensees in one or more countries in the Territory (each, a “Split Lot”), then the Parties shall notify each other immediately upon becoming aware of any possible Recall (or any circumstances reasonably justifying a Recall) that may affect such Split Lot.
In order to compute each Party’s share of Product Returns, the Parties shall determine each Party’s proportional share of such Product Returns from such Split Lot as of the Closing Date by dividing each of the Seller’s and the Purchaser’s sales of Product from such Split Lot by the total units of Product in such Split Lot.
In the event P&GP shall desire to order less than the full yield of a Batch of Product, P&GP shall pay to NOVEN the applicable charges set forth under the heading “Full Batch Order with Partial Batch Processing” on Schedule 2 attached hereto (the “Partial Batch Charges” and, together with the Split Lot Charges, the “Additional Charges”).
It is acknowledged and agreed that a single Purchase Order may be subject to Split Lot Charges as well as Partial Lot Charges.
However, if such a Recall involves one or more lots of Product that were distributed and sold both (i) by ALZA or its Affiliates in one or more countries in the Territory and (ii) by or on behalf of LICENSEE in one or more countries in the Territory (each, a “Split Lot”), then LICENSOR shall notify LICENSEE or LICENSEE shall notify LICENSOR, as the case may be, immediately upon becoming aware of any possible Recall (or any circumstances reasonably justifying a Recall) that may affect such Split Lot.