COMMERCIALISATION OBLIGATIONS Sample Clauses
The Commercialisation Obligations clause sets out the responsibilities of a party, typically a licensee or assignee, to actively develop, market, and sell a product or technology covered by the agreement. It may require the party to meet specific milestones, invest certain resources, or report progress to the other party, ensuring that the intellectual property is not left unused. This clause is essential for ensuring that the licensor’s invention or asset is brought to market efficiently, thereby maximizing its value and preventing stagnation.
COMMERCIALISATION OBLIGATIONS. (a) Sales of at least [ ] of licensed product within Year 2
(b) Gross revenue of at least [ ] by end of Year 5 A*CCELERATE - METAOPTICS TECHNOLOGIES PTE LTD Note: Please insert more rows if necessary * For sales invoice in foreign currency, please indicate the exchange rate used to convert to S$ We hereby certify that the above information is correct. Name: Designation: Chief Financial Officer/Director Date: A*CCELERATE - METAOPTICS TECHNOLOGIES PTE LTD THIS ADDENDUM TO LICENCE AGREEMENT is made 8th December 2025 and deemed to take on effect from 8th December 2025 (“Effective Date”) Between ACCELERATE TECHNOLOGIES PTE LTD (Co. Reg. No. 199503187D), a company incorporated in Singapore and having its place of business at ▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇, #▇▇-▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ (“A*CCELERATE”), And
COMMERCIALISATION OBLIGATIONS. 6.1. Subject to a different decision by the Contract Governance Committee, Bayer shall commence sales of the Products within six (6) months of the grant of Marketing Authorisation for the Products in the UK Territory and within six (6) months of the fulfilment of the Launch Conditions in other countries within the Territory, provided, however, that Bayer was in receipt of Launch stocks of the Products as provided by the Supply Agreement in sufficient time prior to the commencement of sales in accordance with this Clause 6.1 and that Bayer had obtained any other approval required from a Governmental Authority (including without limitation a Controlled Drugs Authority) required to sell the Products in the Territory on a commercial basis.
6.2. The Parties shall establish within five (5) business days of the Effective Date in the case of the UK Territory and before 30 September 2003 in the case of each country added to the Territory under the Territory Option Procedure a Country Commercialisation Committee in each country within the Territory. Each Country Commercialisation Committee shall meet upon request by either Party until one (1) year after the Launch on at least a quarterly basis and thereafter on at least a bi-annual basis. In the event of a dispute within a Country Commercialisation Committee, the dispute (except with respect to disputes relating to setting the Sales Targets (as defined below) whereby disputes in relation thereto shall be settled by the procedure set out in Clause 17) will first be referred for resolution to the Contract Governance Committee who will attempt in good faith to resolve the dispute within thirty (30) days from the date that written notice initiating this resolution process is sent to the other Party. In the event that the Contract Governance Committee cannot resolve the dispute, the decision of Bayer shall be final. The duties of each Country Commercialisation Committee shall include the setting and monitoring in good faith of appropriate and reasonable sales performance levels for the country in question for each agreed twelve (12) month sales period (“Sales Targets”).
6.3. Bayer shall use all reasonable endeavours to meet the Sales Targets.
6.4. Without prejudice to Clause 6.3 above, Bayer shall and shall procure that its Affiliates market and promote the Products using such efforts as Bayer would use for a product of its own making which has the same technical, regulatory and commercial potential to the Products havin...
COMMERCIALISATION OBLIGATIONS. The Licensees agree to the following commercialisation obligations:
(a) Raise funds or create new business units in METAOPTICS to commercialise the Technology, Patents and any Enhancements for the Licensed Products. METAOPTICS shall use reasonable endeavours to raise capital in the amount of approximately [ ] on or before 31 December 2023 in one or more tranches. It is currently anticipated that METAOPTICS intends to raise an estimated [ ] on or before 31 December 2022 and a further estimated amount of [ ] on or before 31 December 2023.
(b) A pilot or mass production line ready by [ ]
(c) A pilot or mass production line ready by [ ]
(d) Able to generate new partnerships from [ ] If the Licensees are unable to show sufficient evidence and effort to commercialise the Technology, Patents and any Enhancements in accordance with commercialization obligations (b) to (d), A*CCELERATE reserves the right to terminate this Agreement with 3 months’ notice in writing. Note: Please insert more rows if necessary * For sales invoice in foreign currency, please indicate the exchange rate used to convert to S$ We hereby certify that the above information is correct. Name: Designation: Chief Financial Officer/Director Date:
COMMERCIALISATION OBLIGATIONS. All decisions relating to the Commercialisation of the Product shall be in the sole discretion of Corgentech. Corgentech shall either itself or through its Affiliate, agents or sublicensees and using Commercially Reasonable Efforts Commercialise Product(s) in [ * ], provided that Corgentech, its Affiliates, agents or sublicensees are not required to market, distribute and sell the Products [ * ]in order to fulfill this obligation and that with the exception of the [ * ], Corgentech, its Affiliates, agents or sublicensees may reasonably decide not to market and sell the Products in [ * ]without being in breach of this diligence obligation.
COMMERCIALISATION OBLIGATIONS