Company Commercial Failure definition

Company Commercial Failure means a case or proceeding (a) under the bankruptcy laws of the United States now or hereafter in effect is filed against Company, or any successor to Research Program Intellectual Property Rights, or all or substantially all of its assets and such petition or application is not dismissed within sixty (60) days after the date of its filing or Company shall file any answer admitting and not contesting such petition, or (b) under the bankruptcy laws of the United States now or hereafter in effect or under any insolvency, reorganization, receivership, dissolution or liquidation law or statute of any jurisdiction now or hereafter in effect (whether at law or equity) is filed by Company, or any successor to Research Program Intellectual Property Rights, for all or substantially all of its assets.

Examples of Company Commercial Failure in a sentence

  • MMRF’s remedies for a Company Commercial Failure shall only be pursuant to Section 8.4 of this Agreement, and, if a Company Commercial Failure occurs during the Term of this Agreement MMRF shall have no obligation to make any additional payments to Company pursuant to Section 2 of this Agreement after the date of a Company Commercial Failure.

  • For purposes of this Agreement, a Company Commercial Failure shall be treated as an Interruption with the rights and obligations of the Parties as specified in Section 8.5.

  • In the event that Company has transferred all of or certain of its rights and obligations to develop and commercialize a Product at any time after the Effective Date, Company represents that the transferee, as a condition to entering into such transfer, shall have agreed that a Company Commercial Failure shall apply to such transferee and such transferee shall be subject to the obligations of any Interruption License granted hereunder.

Related to Company Commercial Failure

  • Technical Failure means the discontinuation of Development or Commercialization of a Product for technical, scientific, medical or regulatory reasons, including, but, not limited to, unacceptable preclinical toxicity, demonstration of a side effect profile significantly worse than currently marketed products, or inability to manufacture in an acceptable purity or for an acceptable price.

  • Supply Failure shall have the meaning ascribed to it in Section 2.8.

  • MI Failure means when an MI report: a) contains any material errors or material omissions or a missing mandatory field; or b) is submitted using an incorrect MI reporting Template; or c) is not submitted by the reporting date(including where a Nil Return should have been filed);

  • Epidemic Failure means a series of repeating failures or defects resulting in at least a 0.5% failure rate for the same Product or Material during any twelve-month period.

  • GEP Failure means Seller’s failure to produce Delivered Energy in an amount equal to or greater than the Guaranteed Energy Production amount for the applicable Performance Measurement Period.

  • Milestone Failure means a failure by the Grant Recipient fully to achieve any Milestone by the relevant Milestone Date;

  • Listing Failure Event means that:

  • Persistent Failure means any two (2) or more failures by the Supplier in any rolling period of twelve (12) months to comply with obligations in respect of the Contract Services under the Contract;

  • Service Failure means a failure by the Contractor to provide the Services in accordance with any individual service level described above (measured on a monthly/quarterly/annual basis)

  • Potential Failure to Pay means the failure by a Reference Entity to make, when and where due, any payments in an aggregate amount of not less than the Payment Requirement under one or more Obligations, without regard to any grace period or any conditions precedent to the commencement of any grace period applicable to such Obligations, in accordance with the terms of such Obligations at the time of such failure.

  • Price Failure means, with respect to a particular date of determination, the VWAP of the Common Stock on any Trading Day during the seven (7) Trading Day period ending on the Trading Day immediately preceding such date of determination fails to exceed the Floor Price (as adjusted for stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions occurring after the date hereof). All such determinations to be appropriately adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions during any such measuring period.

  • Listing Failure means the situation where the Bonds have not been listed on the corporate bond list of Nasdaq Stockholm (or any other Regulated Market) within sixty (60) calendar days after the Issue Date.

  • Reporting Failure has the meaning set forth in Section 2.4.

  • Service Level Failure means a failure to perform the Software Support Services fully in compliance with the Support Service Level Requirements.

  • Consistent Failure means any of:

  • Volume Failure means, with respect to a particular date of determination, the aggregate daily dollar trading volume (as reported on Bloomberg) of the Common Stock on the Principal Market on any Trading Day during the twenty (20) Trading Day period ending on the Trading Day immediately preceding such date of determination (such period, the “Volume Failure Measuring Period”), is less than $2,000,000 (as adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions occurring after the Subscription Date). All such determinations to be appropriately adjusted for any stock splits, stock dividends, stock combinations, recapitalizations or other similar transactions during such Volume Failure Measuring Period.

  • Force Majeure Failure has the meaning set forth in Section 8.1(d).

  • Transaction Failure means the failure to consummate a Business Combination within 18 months of the Effective Date (or 24 months after the Effective Date, if a letter of intent, agreement in principle or definitive agreement has been executed within 18 months after the Effective Date and the Business Combination relating thereto has not yet been consummated within such 18-month period).

  • Transaction Failure Date means the 18-month anniversary of the Effective Date (or the 24 month anniversary of the Effective Date, if a letter of intent, agreement in principle or definitive agreement has been executed within 18 months after the Effective Date and the Business Combination relating thereto has not yet been consummated within such 18-month period).

  • Co-occurring disorder (COD) means any combination of mental health symptoms and substance use disorder symptoms or diagnoses that affect a consumer and are typically determined by the current Diagnostic and Statistical Manual of Mental Disorders.

  • Catastrophic Event means a rare circumstance in which mass casualties and/or significant property damage has occurred or is imminent (e.g. September 11th, hurricanes, earthquakes greater than 6.1 on the Richter scale)

  • major accident means an incident involving loss of life inside or outside the establishment or ten or more injuries inside and/or one or more injuries outside or release of toxic chemical or explosion or fire or spillage of hazardous chemical resulting in ‘on-site’ or ‘off-site’ emergencies or damage to equipment leading to stoppage of process or adverse effect to the environment;

  • Expected week of childbirth means the week, starting on a Sunday, during which the mother's doctor or midwife expects her to give birth.

  • Catastrophic disability means a physical and not a psychological

  • Mental, Nervous or Psychological Disorder means a mental or nervous health condition including, but not limited to: anxiety, depression, neurosis, phobia, psychosis; or any related physical manifestation.

  • Public Information Failure shall have the meaning ascribed to such term in Section 4.3(b).