Commencement Date definition
Examples of Commencement Date in a sentence
An answer and any counterclaims to the Arbitration Notice shall be required to be delivered to the party initiating the Arbitration within twenty (20) calendar days after the Arbitration Commencement Date.
The parties hereby agree that an Arbitration Award must be made within one hundred twenty (120) calendar days after the Arbitration Commencement Date.
Subject to the terms and conditions of this Agreement, and except for any Excluded Assets, on the Transaction Commencement Date, Licensor, as seller, shall transfer, convey, assign and deliver to Licensee, as buyer, and Licensee shall accept from Licensor, all right, title and interest of Licensor in and to all of the assets listed on Schedule D attached hereto directly related to the Development and commercialization of the Licensed Products (“Transferred Assets”).
As used herein (i) the term “CPI Fraction” shall mean, as of each anniversary of the Commencement Date during the Term (an “Adjustment Date”), a fraction (a) the numerator of which is the CPI for the month immediately preceding such Adjustment Date and (b) the denominator of which is the CPI for the CPI Month during which the Commencement Date occurs.
Licensee shall assume all liabilities arising out of or directly relating to ownership or use of the Transferred Assets after the Transaction Commencement Date, except that Licensee shall not assume any liabilities of Licensor arising out of or relating to the ownership or use of the Transferred Assets prior to the Transaction Commencement Date (the “Assumed Liabilities”).