Trade Product definition
Examples of Trade Product in a sentence
The Trade Product Report shall be accompanied by such documentation as PRONOVA shall reasonably request (including, as applicable, documentation from the packager of the Product) to evidence the amount of Product packaged as Trade Product and as Sample Product during such month.
Not more than once per year, PRONOVA shall have the right to cause an independent, certified public accountant reasonably acceptable to RELIANT, at reasonable times and upon reasonable written notice, to examine such records of RELIANT and/or any of RELIANT’s third party packager of the Product as may be necessary for the sole purpose of verifying the calculation and accuracy of the Trade Product Reports, and the correctness of any payments made pursuant thereto.
For lots designated for Trade Product, Reliant shall pay the tiered Unit Price based on the number of Units set forth in its Rolling Forecast for the then-current Contract Year.
When a Purchase Order is placed, Reliant shall specify in such Purchase Order whether each lot is designated for Sample Product or Trade Product.
In the event Reliant shall desire to make a Sample Product lot out of a lot otherwise forecast and purchased as Trade Product, the Parties shall reconcile such transfer and Cardinal Health shall credit the difference to Reliant within thirty (30) days of such notification.
In the event that such Annual Report indicates that Cardinal Health is owed an additional amount for Trade Product purchased in the immediately preceding Contract Year, Cardinal Health shall invoice Reliant for such amount, and Reliant shall pay such invoice within thirty (30) days of the date of receipt of such invoice.
Provided that PRONOVA is not in breach of its supply obligations under Section 5, this Agreement will be subject to RELIANT making at least the following purchases of API for Trade Product (the “Base Minimum Purchase Levels”) during the first twelve month period following the First Commercial Sale and every 12-month period thereafter (each a “Commercialization Year”): • 1st Commercialization Year: USD 6,000,000.
The Minimum Purchase Level may be reached by RELIANT by purchasing API for Sample Product at the price for Trade Product, or by paying the difference between actual Trade Product bought during the respective Commercialization Year and the Minimum Purchase Level in that year.
Provided that PRONOVA is not in breach of its supply obligations under Section 5, this Agreement will be subject to RELIANT making at least the following purchases of API for Trade Product during the first twelve month period following the First Commercial Sale and every 12-month period thereafter (each a “Commercialization Year”) prior to Full Regulatory Approval (the “Reduced Base Minimum Purchase Levels”): • 1st Commercialization Year: USD 3,000,000.
Reliant commits to purchase a minimum of 80% of its Manufacturing requirements for Trade Product in the Territory per Contract Year from Cardinal Health during the Term of this Agreement, subject to Section 4.2 (c) and (d) below.