Continuation Right definition
Examples of Continuation Right in a sentence
In the event that the Medical Group exercises its Continuation Right, then the Medical Group shall be required to fund all costs that fall within the definition of New Medical Office Start-Up Costs incurred during the period from the expiration of the New Medical Office Start-Up Period through and including the date that the New Medical Office becomes profitable (as reasonably determined by the Management Company) (the "Secondary Period").
The Medical Group shall then have the right (the "Continuation Right"), which it must exercise by delivering written notice to the Management Company within five (5) days after receipt of the Closing Notice, to keep the New Medical Office open.
For purposes of this Section, "Continuation Right" shall mean the right secured from Third Parties to continue to [...*...
Notwithstanding the foregoing, if Vyera exercises the Continuation Right (as defined in the Supply Agreement), then Vyera shall continue to purchase Licensed Product from CytoDyn pursuant to the Supply Agreement and shall pay CytoDyn for such Licensed Product the price specified in the Supply Agreement and a royalty equal to [***], provided that after the exercise of the Continuation Right, CytoDyn will not be obligated to supply Licensed Product exclusively to Vyera in the Field in the Territory.
In the event that Vyera decides to terminate this Agreement after its exercise of the Continuation Right, it will provide CytoDyn with written notice at least [***] prior to such termination.
If Vyera elects to exercise the Continuation Right, it shall deliver a notice to CytoDyn at least [***] prior to the initial slated expiration of the Term.