EC APPROVAL definition
EC APPROVAL means approval of a Product for marketing in the European Union by the European Commission ("EC") upon recommendation by the EMEA or, if Lilly seeks approval through mutual recognition therein, by the Ministry of Health of the United Kingdom, France, Germany, Italy or Spain (each a "Major European Country"), without the requirement for price having been approved. If a Product is sold in a Major European Country without EC or Ministry of Health approval, EC Approval will be deemed to have been obtained on the date of Product Launch in a Major European Country.
EC APPROVAL means the approval of a Collaboration Product for marketing in the European Union by the European Commission ("EC"), or any future equivalent approval process.
EC APPROVAL means that the terms of the agreement covering the three principal aspects of the negotiations with the European Commission, including (x) the additional payments on the Alt-A facility, (y) the repayment of EUR 5 billion of the Core Tier 1 securities held by the Dutch State and (z) the terms of any required restructuring of the Group (the “EU Negotiations”), have been finally and unconditionally approved by the European Commission such that the terms cannot be changed.