Benchmark Product definition

Benchmark Product means a product that (i) does not contain a Shuffled Gene and (ii) is not made or identified using any MAXYGEN Intellectual Property or Joint Intellectual Property (including without limitation, any method or process included therein), but which is otherwise identical to a PIONEER Licensed Product (or if no such product exists, substantially similar to a PIONEER Licensed Product) and is available in the same geographic market and time period. A Benchmark Product shall be a commercial product sold by PIONEER or its Affiliates or Agents; provided, if PIONEER or its Affiliates or Agents do not sell such a Benchmark Product, then the most comparable product sold by a third party in the applicable geographic market during the applicable time period shall be used as the Benchmark Product. By way of illustration, and without limitation, the Benchmark Product for a PIONEER Licensed Product which contained one or more Shuffled Genes would be an otherwise comparable product not containing any Shuffled Genes.
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Benchmark Product means a product not covered by Licensed Patent Rights, but otherwise identical to a Licensed Product, or if no such product exists, substantially similar to a Licensed Product, but not covered by Licensed Patent Rights, in each case, available in the same country and time period. A Benchmark Product must be a commercial product sold by Monsanto or its Affiliates or a third party. If Monsanto or its Affiliates do not sell such a Benchmark Product, then the most suitable product that meets the above definition sold by a third party in the applicable country during the applicable time period shall be used as the Benchmark Product.
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Benchmark Product means sales of Energy commonly recognized in the electric power trading industry in the United States as "Firm (LD)" sales, which sales are made on a firm basis, the obligation to deliver of which is not contingent on native load requirements or the performance of any designated power generation facility or system of power generation resources, with cover damages being payable by the non-performing party in the event of an unexcused failure to deliver or receive. If at any time any Party reasonably believes that the forepart of this definition no longer describes sales of Energy that are commonly recognized and made in the electric power trading industry in the United States and that are being made by RES on behalf of the Companies pursuant to this Agreement, RES shall, in good faith, provide to the Companies a new definition that describes sales of Energy that, at that time, are commonly recognized and made in the power trading industry in the United States and that are being made by RES on behalf of the Companies pursuant to this Agreement.
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Examples of Benchmark Product in a sentence

  • In such event, the parties shall determine in good faith the Product Price of the applicable Benchmark Product which will be used to determine the applicable Price Premium; provided, however, such royalty shall be no less than [*******] of Net Sales of the applicable PIONEER Licensed Product.

  • During the Term, SafeGuard shall not sell any Benchmark Product in the Territory for a price less than the Net Price of the comparable Health Net Branded Products plus the Health Net Mark-Up.

  • Any Health Net Branded Product created by SafeGuard at the request of Health Net pursuant to this Section 5.1 shall be considered a Benchmark Product.

  • For example, if Guilford currently sells a monotherapy Product containing 100mL of tirofiban hydrochloride and another monotherapy Product containing 250mL of tirofiban hydrochloride, and the Combination Product contains 125mL of tirofiban hydrochloride, then the Benchmark Product would be the 100mL dosage formulation, and the Royalty Payment for the Combination Product would be 125/100 or 125% of the Royalty Payment for the same number of units of the Benchmark Product.

  • A SafeGuard Product for which a Health Net Branded Product is created by SafeGuard at the request of Health Net pursuant to this Section 5.1 shall be considered a Benchmark Product.

  • SafeGuard shall provide Health Net a quarterly report that sets forth all rates for each group size and Benchmark Product quoted by SafeGuard in the Territory.

  • The CoStar Terms and these STR Benchmark Terms govern the STR Benchmark Product.