Commercial Sale definition

Commercial Sale means for a given product and country the sale for value of that product by a Party (or, as the case may be, by an Affiliate or permitted sublicensee of a Party), to a Third Party after regulatory approval (if necessary) has been obtained for such product in such country.

Commercial Sale means the sale of Product (as indicated by shipment of Product) to an unaffiliated third-party of the Licensee, or of its sublicensee or distribution partner, such as a wholesaler, managed care organization, hospital or pharmacy and shall exclude (i) any transfer of Product by Licensee to its sublicensee, distribution partner or Affiliate and (ii) any distribution of Product for use in research, development, pre-clinical and clinical trials.

Commercial Sale means any bona fide transaction with a Third Party for which consideration is received for the sale, use, lease, transfer or other disposition of a Licensed Product by or on behalf of Licensee or its Sublicensee. Commercial Sale is deemed completed when a bona fide transaction qualifies as a Gross Sale.

Examples of Commercial Sale in a sentence

• Each Committee shall hold meetings at such times as it elects to do so, but in no event shall such meetings be held less frequently than twice per Calendar Year until the First Commercial Sale of the Product in the Erasca Territory.

• The AC shall continue to exist until the Parties mutually agree to disband the AC after the First Commercial Sale of a Product in both the ImmuneOnco Territory and the SynBio Territory.

• Beginning upon the First Commercial Sale of the first Licensed Product and continuing until the expiration of the last to expire Royalty Term, Chiesi SpA shall within [***] after the Calendar Quarter during which the applicable Net Sales were made, prepare and deliver royalty reports of the sale of Licensed Product(s) by Chiesi SpA or any of its Affiliates or Sublicensees for the applicable Calendar Quarter (each such report, a “Royalty Report”).

• After the First Commercial Sale of a Licensed Product anywhere in the Territory, LICENSEE shall submit to Cornell semi-annual reports on or before each February 28 and August 31 of each year.

• The term of this Agreement will commence as of the Effective Date and continue until the tenth (10th) anniversary of the First Commercial Sale of the first Licensed Product sold in the Apotex Territory (“Initial Term”).

More Definitions of Commercial Sale

Commercial Sale means any transaction, following receipt of all necessary governmental approvals to market a Licensed Product, that transfers to a purchaser, for value, physical possession of and title to a Licensed Product, after which transfer the seller has no right or power to determine the purchaser’s resale price. Transfer of possession and title to an Affiliate or Sublicensee shall not constitute a Commercial Sale unless the Affiliate or Sublicensee is an end user of the Licensed Product.

Commercial Sale means any shipment of the Licensed Products in the Territory pursuant to an arm’s length sale by Synergy or its Affiliates to a Third Party.

Commercial Sale means any TRANSFER of a PRODUCT or PROCESS by COMPANY, an AFFILIATE or SUBLICENSEE (which may include a TRANSFER to an AFFILIATE or SUBLICENSEE for value in the form of cash or otherwise.) Xxxxxxx-MGH License Agreement, Execution Version

Commercial Sale means any sale which transfers physical possession and title to any Licensed Product (hereinafter defined) to a Third Party in exchange for value and after which transfer the seller has no right or power to determine the Third Party's resale price. Transfer for research, development or testing purposes shall not constitute a Commercial Sale.

Commercial Sale means the sale of LifeVantage products to a third party who intends to resell such products to an end consumer.

Commercial Sale means the sale of a product in the stream of commerce at retail, at wholesale, or on the Internet.

Commercial Sale means with respect to each Licensed Product in each country, a bona fide commercial sale of such Licensed Product following marketing approval by the regulatory authority in such country; provided that where such a first commercial sale has occurred in a country for which government pricing or government reimbursement approval is needed for widespread commercial sale (for clarification, the parties acknowledge that no such approval is required in the United States) then a sale shall not be deemed a Commercial Sale until such pricing or reimbursement approval has been obtained.