Developed Products definition
Examples of Developed Products in a sentence
In the event of any termination as a result of breach by VeriChip hereunder, VeriChip shall be required to immediately pay for any units of the Developed Products that have been ordered, delivered, and not yet paid for.
At VeriChip’s expense and if required, Company shall apply for any necessary approvals or licenses for the export of Developed Products from the United States and Company shall do all such things and sign all such applications or documents as may be necessary to obtain such approvals or licenses.
In the event that Company is unable or unwilling to meet VeriChip’s requirements for Developed Products, Company shall permit VeriChip to obtain additional suppliers and shall permit such additional suppliers to use the Intellectual Property for the sole purpose of meeting VeriChip’s supply requirements, subject to the provisions of Section 11(d) of this Agreement.
Except as otherwise provided below, the cost of each unit of the Developed Products during the Term and the ordering and payment terms shall be as set forth on Schedule 2.
During the Term, and with respect to the Exclusive Market, VeriChip shall purchase from Company and cause members of the VeriChip Group and any other resellers to purchase from the Company all of their respective requirements for the Developed Products with respect to the Exclusive Market.