Device definition
Examples of Device in a sentence
In the event there is a tie that cannot be resolved through good faith negotiations between the Parties’ representatives in the JSC, Licensor shall have final decision-making authority with respect to any matter that is specific to the Device (and not the Product) and Company shall have the final decision-making authority in all other cases.
Notwithstanding the foregoing in Section 4.1.3or anything to the contrary set out herein, the Parties acknowledge and agree that the [***] Device is in development and in prototype form as of the Effective Date and accordingly there is no guarantee that the [***] Device will achieve any desired results of Company for Commercialization.
As between Company and Licensor, (a) Company shall own and maintain all regulatory filings and Regulatory Approvals for the Products in the Field in the Territory, including all INDs and ▇▇▇▇; and (b) Licensor shall own and maintain all regulatory filings (including applications, 510(k) submissions, DMFs and DHFs) and Regulatory Approvals specific to a Device alone.
Upon Company’s request, Licensor shall provide Company with a technical dossier with respect to each Device to be used by Company to seek or maintain Regulatory Approval of a Product.
The royalty rates set forth in Section 6.4.1applicable to Net Sales of Product shall be payable until the [***] anniversary of the commencement of the Royalty Term in the United States, subject to a reduction to [***] (i.e. the [***] royalty rate shall be reduced to [***], and the [***] royalty rate shall be reduced to [***]) of such royalty rates during that period if there exists no Valid Claim of a Licensor Patent that Covers the Device in such Product in the United States.