Commercial Development Plan. Licensee has provided to TSRI its development plan attached hereto as Exhibit C, under which Licensee intends to bring the subject matter of the Licensed Patent Rights to the point of commercial use (“Commercial Development Plan”), where such Commercial Development Plan is subject to the mutual agreement by Licensee and TSRI. Pursuant to the Commercial Development Plan, Licensee shall use commercially reasonable efforts to achieve the development benchmarks specified in the Commercial Development Plan (“Benchmarks”) within the time periods set forth in such specified in the Commercial Development Plan. Notwithstanding the foregoing, in the event that Licensee, its Affiliates or a Sublicensee, alone or together, has expended a minimum of [***] (excluding amounts paid to TSRI under the Research Funding and Option Agreement) per each calendar year during the initial [***] period of development under such Commercial Development Plan (where, for the avoidance of doubt, such period shall commence upon the addition to this Agreement of the Licensed Patent Rights that are the subject of such Commercial Development Plan) (“Initial Development Period”), Licensee will be deemed to have complied with Licensee’s obligations under this Section 6 in connection with such Commercial Development Plan for each year during such initial [***] period.
Commercial Development Plan. The Licensee will develop, manufacture and market the immunotherapy product PANVAC® and other Vaccine candidates such as Brachyury containing vaccine for therapy of breast, non-small cell lung and other cancers within the Licensed Field of Use. Steps followed by Licensee to develop and commercialize PANVAC and other Vaccine candidates such as Brachyury containing vaccine are summarized below: [***] APPENDIX F- EXAMPLE ROYALTY REPORT Required royalty report information includes: · XXX license reference number (L-XXX-200X/0) · Reporting period · Catalog number and units sold of each Licensed Product (domestic and foreign) · Gross Sales per catalog number per country · Total Gross Sales · Itemized deductions from Gross Sales · Total Net Sales · Earned Royalty Rate and associated calculations · Gross Earned Royalty · Adjustments for Minimum Annual Royalty (MAR) and other creditable payments made · Net Earned Royalty due Example Catalog Number Product Name Country Units Sold Gross Sales (US$) 1 A US 250 62,500 1 A UK 32 16,500 1 A France 25 15,625 2 B US 0 0 3 C US 57 57,125 4 D US 12 1,500 Total Gross Sales 153,250 Less Deductions: Freight 3,000 Returns 7,000 Total Net Sales 143,250 Royalty Rate 8 % Royalty Due 11,460 Less Creditable Payments 10,000 Net Royalty Due 1,460 ***Text Omitted and Filed Separately with the Securities and Exchange Commission. Confidential Treatment Requested Under 17 C.F.R. Sections 200.80(b)(2), (4), (5) and (6) and 230.406 APPENDIX G — ROYALTY PAYMENT OPTIONS The XXX License Number MUST appear on payments, reports and correspondence.
Commercial Development Plan. The term “Commercial Development Plan” is defined in Section 6.1 (Commercial Development Plan) below.
Commercial Development Plan. Licensee has provided to TSRI its development plan attached hereto as Exhibit D, under which Licensee intends to bring the subject matter of the Licensed Patent Rights to the point of commercial use (“Commercial Development Plan”). Pursuant to the Commercial Development Plan, Licensee shall achieve the Benchmarks specified in Exhibit E (“Benchmarks”) within the time periods set forth in Exhibit E, subject, in any event, to Section 6.2 below.
Commercial Development Plan. Company has provided to TSRI its development plan attached hereto as Exhibit C, under which Company intends to bring the subject matter of the Licensed Patent Rights to the point of commercial use (“Commercial Development Plan”). Pursuant to the Commercial Development Plan, Company or its Affiliate shall achieve the Benchmarks specified in Exhibit D (“Benchmarks”) within the time periods set forth in Exhibit D, subject, in any event, to Section 6.2 below.
Commercial Development Plan. Due to the early stage of the TMS market, the immature phase of the technology, and the lack of consensus within the scientific community regarding the viability of TMS in the treatment of brain deficiencies, the R&D and marketing plan represents only a guideline of the intentions of Brainsway Inc. Such plans will necessarily be adapted to reflect results of various R&D phases, as well as new discoveries that may be published by the scientific community. Overall, the intention of Brainsway Inc. is to identify one or more brain deficiencies and/or malfunctions, develop coils and potentially also a stimulator that will be effective in altering these malfunctions, and promote and sell such coils and stimulators to hospital and clinics, potentially establishing a network of TMS clinics later.
Commercial Development Plan. Prior to signing this Agreement, Licensee has provided to TSRI the Commercial Development Plan attached hereto as Exhibit B, under which Licensee intends to bring the subject matter of the Licensed Patent Rights to the point of commercial use. This Commercial Development Plan is hereby incorporated by reference into this Agreement. Based on this Commercial Development Plan, performance Benchmarks will be determined as specified in Exhibit C.
Commercial Development Plan. From time to time, as necessary, the Parties shall negotiate in good faith, mutually agree upon, and implement the Commercial Development Plan, including designation of the assays to be developed as Commercial Products (“Designated Assays”). The final Commercial Development Plan shall be subject to mutual agreement of the Parties and shall be signed by the Chief Executive Officer or Chief Financial Officer of Tocagen and the Chief Executive Officer or Chief Financial Officer of Siemens MM Business Unit. It is expected that the Designated Assays will be a subset of the Clinical Assays.
Commercial Development Plan. For development of stem cells therapy products, reasonable effort will be dedicated to achieving the following milestones for product development and clinical trials: [***]
Commercial Development Plan. Licensee will perform substantially as described in the Commercial Development Plan attached as Appendix A to the Agreement.
