Examples of Territorial Regulator in a sentence
Any proposed design changes or modifications to the Product incorporating any Improvements into the Product may be implemented by the Licensee or Fresenius AG, unless such proposed design changes or modifications may require any new approval of a Territorial Regulator in order for the Product to be marketed as modified, in which case the prior written consent of Licensor shall be required, which may be withheld in Licensor's sole and absolute discretion.
Notwithstanding the foregoing, neither party shall be required to disclose to the other party any change or Improvement unless such change or Improvement may require any new approval of a Territorial Regulator in order for such modified Product or the Product produced by such modified process, as the case may be, to be marketed.
Notwithstanding the foregoing, the Steering Committee shall in any event be obligated to approve budgets for, and reimbursement of, all Research and Development and Clinical Trials Costs of a party to the extent that any of such costs are incurred in connection with any portion of the Clinical Trials Program that is required by the FDA or a Territorial Regulator.
Licensor, Licensee and Fresenius AG shall also disclose and make available to each other all information in their possession relating to recalls or other corrective actions either ordered by the FDA or a Territorial Regulator or initiated by Licensor, Licensee or Fresenius AG and which involve the safety or integrity of the Product, as well as all such material information which they may obtain concerning the development by any Third Party of any product that is or could be competitive with the Product.
For the avoidance of doubt, Licensor shall have the sole and absolute discretion to decide whether to permit any change or Improvement that may require any new approval of a Territorial Regulator in order for such modified Product or the Product produced by such modified process, as the case may be, to be marketed and may condition its approval on obtaining a license or other access to such change or Improvement upon any termination of this Agreement.