Commercialization Phase definition
Examples of Commercialization Phase in a sentence
T&L shall provide Genomatica with written notice of whether or not T&L is electing to participate in the Commercialization Phase no later than the date that is the later of […***…] after the Effective Date and […***…], together with the details associated therewith (the “Election Period”).
During the period from the delivery of written notice from T&L to Genomatica of T&L’s election to participate in the Commercialization Phase in accordance with Section 4.1 until the earlier to occur of (a) […***…] and (b) […***…] (“Exclusivity Period”), Genomatica will negotiate exclusively with T&L in good faith with respect to an agreement for the commercialization of Bio-BDO produced using the Commercial Process in the Territory (the “Potential Transaction”).
Should any purchases of Licensed Products from CIMAB occur during the Development Phase, payment will be 100% in Barter, whereas any such purchases during the Commercialization Phase will be 50% in Barter and 50% in Payment in Cash.
If T&L does not provide written notice to Genomatica by the expiration of the Election Period, T&L shall be deemed to have elected not to participate in the Commercialization Phase.
Payment by the Importer to CIMAB for the Licensed Products shall be net 30 days following delivery to the Delivery Location, and shall be payable 100% in Barter during the Development Phase, and 50% in Barter and 50% in Payment in Cash during the Commercialization Phase.