Acrotech definition
Examples of Acrotech in a sentence
From 01 January 2024 through the Term, Acrotech, either directly or through the New Swiss MAH or its designated agent, shall be solely responsible for all maintenance costs, including filing fees and related attorneys’ fees as required, pertaining to the Swiss MA.
The foregoing indemnity shall not apply to the extent that Acrotech has an obligation to indemnify Mundipharma pursuant to paragraph 1.1A(f) below.
For the avoidance of doubt, under no circumstance shall Acrotech be liable (i) to CASI for direct damages relating to the Drug Approvals in China, on the grounds that CASI shall be responsible for all maintenance relating to such Drug Approvals at CASI’s sole expense; and (ii) to CASI for any direct damages related to applicable Regulatory Authorities revoking the Swiss MA for any reason other than Acrotech’s gross negligence or willful misconduct in maintaining such MA.
For the avoidance of doubt, under no circumstance shall Acrotech be liable to CASI or to Mundipharma, or any other third party, for any indirect, special, incidental, or consequential damages, including, without limitation, lost profits, business interruption and customer penalties.
For clarity, the milestone payments in this Section shall each be paid only once and shall be additive such that if all four Milestone Events set forth below are achieved in the same calendar year, CASI shall pay to Acrotech a payment of [***] Dollars ($[***]).
The foregoing shall not apply to the extent that MICL is in breach of its obligations with respect to transferring the Swiss MA to Acrotech or its designee under the MICL-Acrotech Agreement or this Agreement.
The Parties agree and acknowledge that it is the intention of the Parties, and inducement of Acrotech to enter into this Agreement, that Acrotech may only be liable under this Agreement for actual and direct damages proven in a court of competent jurisdiction, as set forth in this Section.
For the avoidance of doubt and subject to the above provisions – LSRI hereby approves the grant of a sub-license to Acrotech.
CASI shall pay to Acrotech such amount within [***] days after the end of the calendar quarter in which such Milestone Event is achieved.
If Supplier does not receive payment within [***] calendar days of the invoice date, then simple interest shall thereafter accrue on the sum due to Acrotech until the date of payment at the per annum rate of [***] percent ([***]%) over the then-current prime rate as reported in The Wall Street Journal, or the maximum rate allowable by applicable Laws, whichever is lower.