Development Term definition

Development Term means the period commencing on the Closing Date and ending on the earlier of (a) the Option Closing Date or (b) the date the Option terminates or expires other than by exercise.

Development Term means the term of development of Products by Ikaria.

Development Term means the period during which the Parties are conducting studies and activities with respect to Product in the Field in the Territory under the Development Plan, commencing on the Effective Date and ending upon the completion of all studies and activities specified in the Development Plan or earlier termination of this Agreement.

Examples of Development Term in a sentence

• Any Development Term Rent payable for less than a full year shall be prorated by Lessee on the basis of a 365-day year.

• Commencing on the Effective Date, and thereafter within fifteen (15) days after each anniversary of the Effective Date during the Development Term (unless this Lease is earlier terminated), Lessee shall pay to Lessor, annually in advance, an amount equal to the Total Acreage multiplied by the amount shown on the following table for the applicable Lease year (the “Development Term Rent”): The first payment of Development Term Rent shall be made within thirty (30) days after the Effective Date.

• The location and development of the Wind Power Facilities on the Property shall be guided by a site plan to be mutually agreed upon by Lessor and Lessee during the Development Term.

• Payment of the Development Term Fee shall be made annually in advance with the first payment due on or before sixty (60) days following the Effective Date and each subsequent payment shall be due on or before each anniversary of the Effective Date, as applicable.

• Unless otherwise agreed to in writing by both Parties, in no event shall the combined length of the Development Term and the Extended Term of this Lease exceed the date that is thirty-five (35) years after the Effective Date of the Lease.

More Definitions of Development Term

Development Term means the period commencing on the Effective Date and ending on the date of the First Commercial Sale.

Development Term means the period of time during which each Party will undertake activities in the Development Program or on the Development Plan.

Development Term means the period beginning on the Effective Date and ending on:

Development Term means that portion of the Term beginning on the Effective Date and continuing, on a Product-by-Product basis, for so long as the Parties are conducting Development activities for such Product pursuant to this Agreement.

Development Term shall have the meaning provided in Section 12.1.

Development Term means the period during which MannKind is conducting activities under the Development Plan, commencing on the Effective Date and ending upon the completion of all activities specified in the Development Plan or earlier termination of this Agreement.

Development Term means the period commencing on the Effective Date and continuing for seven (7) years thereafter.