Exempt Territory definition
Exempt Territory as defined in the License Agreement. For purposes of this Agreement, "full business time" shall mean full time during regular and, as needed, such extraordinary hours as may be required from time to time. The Employee shall not at any time while employed by the Company or any of its Affiliates, including the Company's parent, SDI, without the prior consent of the Company's Board of Directors, knowingly acquire any financial interest in, directly or indirectly, nor perform any services, whether as an employee, independent contractor, stockholder, officer, director, principal, agent, partner, consultant, or otherwise, for the benefit of any person, enterprise or business in substantial competition with the Company's business or with its Process or Product.
Exempt Territory or "Exempt Territories" "FDA" "Generic Products" "Intellectual Property" "Inventory" "Legal Requirements" "Loss" "Put Agreement" "Transferred Inventory" "U.S." or "United States"
Exempt Territory or "Exempt Territories" means, with respect to each Exempted Product, the country or countries, respectively, in which Sellers retain rights to manufacture, market, sell or distribute such Exempted Product as referenced in subclauses (x) and (y) of clause (i) of the definition of Excluded Business, unless and until, with respect to any such country and as regards any applicable Exempted Product, Sellers' retained rights relating to such Product in such country are purchased by, or transferred to, Purchaser or its assignee under Section 6.10 hereof.
Examples of Exempt Territory in a sentence
In the event Sellers hold a registered trademark with respect to any Product in any country that ceases to be an Exempt Territory for such Product pursuant to the terms of this Section 6.10(c), Sellers shall convey such trademark to Purchaser in consideration of Purchaser's undertakings pursuant to this Agreement and without further payment; provided that Purchaser shall bear the cost of any out- of-pocket expenses associated with transferring such trademark rights.