Common use of Exclusivity Term Clause in Contracts

Exclusivity Term. The exclusive rights set forth in Section 1 start September 1, 2018 and terminate on September 1, 2019, for both the U.S. Territory and the International Territory. In the event that Elite fails to do any of the following, the exclusive rights set forth in Section 1 immediately become null and void: (i) substantially launch the Product in the U.S. Territory on or before December 1, 2018, or (ii) submit a {3278478;3} reimburse Elite for all direct out-of-pocket costs and expenses actually incurred by them in complying with such recall as requested by HORN, to the extent Elite is not allocated any responsibility for the recall.