API Inventory definition
Examples of API Inventory in a sentence
In such event, the quantities of API Inventory used to satisfy the Binding Portion of a forecast or purchase order requirement shall be offset against the requirements to purchase the comparable quantities of API subject to any such Binding Portion of a forecast or purchase order requirement.
Before delivering the Milled API Inventory to ▇▇▇▇▇▇▇, Licensor will ensure that (a) all analytical testing necessary for the release of such Milled API Inventory for use in the Manufacture of Licensed Product drug product has been completed and (b) stability testing of such Milled API Inventory has been initiated.
Following the delivery of the Milled API Inventory to ▇▇▇▇▇▇▇ after the Effective Date pursuant to Section 2.2.1(b)(ii) and the completion of the Manufacturing technology transfer described in Section 2.2.2 with respect to the Manufacturing process for the Licensed Product drug product, ▇▇▇▇▇▇▇ will use Diligent Efforts to Manufacture or have Manufactured Licensed Product drug product and placebo tablets in at least the quantities set forth on Schedule 2.2.3(b)(ii) (the “Initial Manufacturing Activities”).
Licensor will deliver all other Existing API Inventory, in unmilled form, to ▇▇▇▇▇▇▇ or ▇▇▇▇▇▇▇’▇ designee as soon as possible following the Effective Date.
On and after the Effective Date, (A) Licensor will continue to store all Existing API Inventory in accordance with all applicable Laws (including GMP) and the API specifications for the Licensed Compound API until it is transferred to ▇▇▇▇▇▇▇ in accordance with Section 2.2.1(b)(ii) and (B) Licensor will not use (or permit any Affiliate or Third Party to use) any of the Existing API Inventory.
As the API Inventory of the API for GS7904L is currently projected to be sufficient to meet the needs of the clinical program for such Product for up to nine (9) months after the Closing Date, the Parties anticipate that technology transfer to an API Source for such API should be completed prior to the time OSI needs ** of such API to be produced to accommodate its requirements for clinical supply of finished GS7904L.
Except for items undergoing repair off premises, in the possession of employees or customers all API Inventory is located at the API Leased Real Property.
Other than the terms and conditions set forth in Clause 7.1 with respect to Local Inventory, in Clause 7.2 with respect to Remaining Inventory and Clause 7.3 with respect to the API Inventory, all other terms and conditions of this Supply Agreement related to the sale of the Product shall also apply to the sale of all other Inventory supplied hereunder.
The API Inventory, the cash and cash equivalents of API and the receivables of API as at the Closing Date to be transferred to TSR Wireless hereunder shall have an aggregate value of at least ninety percent (90%) of that shown on the Interim Balance Sheet of API, determined in a manner consistent with GAAP and with the preparation of the Interim Balance Sheet of API.