First Commercial Sale definition

First Commercial Sale means, with respect to any Licensed Product, the first sale for use or consumption by the general public of such Licensed Product in any country in the Territory after Approval of such Licensed Product has been granted, or such marketing and sale is otherwise permitted, by the Regulatory Authority of such country.

First Commercial Sale means the initial transfer by or on behalf of Licensee or its sublicensees of Licensed Products or the initial practice of a Licensed Process by or on behalf of Licensee or its sublicensees in exchange for cash or some equivalent to which value can be assigned for the purpose of determining Net Sales.

First Commercial Sale means the first sale of a Product by MedImmune or its Affiliate or Sublicensee to a Third Party in a country following Regulatory Approval (to the extent necessary for commercial sale) of such Product in such country.

Examples of First Commercial Sale in a sentence

• The JSC shall continue to exist until the first to occur of (a) the Parties mutually agreeing to disband the JSC and (b) the First Commercial Sale of the Licensed Product (unless otherwise mutually agreed in writing).

• Pharming shall provide to Orchard within [_____] days following the end of each Year of the Term (commencing as of the First Commercial Sale) copies of written reports containing sufficient detail to enable Orchard to assess Pharming’s compliance with Section 7.2. All such reports and the information contained therein shall constitute the Confidential Information of Pharming.

• Commencing upon the First Commercial Sale of a Licensed Product and continuing for as long as the Royalties are due under Section 4.3 (Royalties), Takeda will deliver to Innate within days after the end of each Calendar Quarter, a written report setting forth the actual Net Sales for such Calendar Quarter in each country in the Territory for the Licensed Products in substantially the form set forth on Schedule 4.5.2 (each, a “Royalty Report”).

More Definitions of First Commercial Sale

First Commercial Sale means, with respect to a Product and country, the first sale to a Third Party of such Product in such country after Regulatory Approval has been obtained in such country.

First Commercial Sale means, with respect to any Product, the first sale of such Product after all applicable marketing and pricing approvals (if any) have been granted by the applicable governing health authority of such country.

First Commercial Sale means, with respect to a Licensed Product and a country, the first sale for monetary value for use or consumption by the end user of such Licensed Product in such country after Regulatory Approval for such Licensed Product has been obtained in such country. Sales prior to receipt of Regulatory Approval for such Licensed Product, such as so-called “treatment IND sales,” “named patient sales,” and “compassionate use sales,” shall not be construed as a First Commercial Sale.

First Commercial Sale means, with respect to any Product, the first sale for end use or consumption of such Product in a country, excluding, however, any sale or other distribution for use in a Clinical Trial.

First Commercial Sale means the first sale to a Third Party of a Product in a given regulatory jurisdiction after Regulatory Approval has been obtained in such jurisdiction.

First Commercial Sale means, with respect to a Licensed Product in any country, the first commercial transfer or disposition for value of such Licensed Product in the Field in such country to a Third Party, by TGTX, by an Affiliate of TGTX or by a Sublicensee after Regulatory Approval therefor has been obtained in such country, for cash or non-cash consideration to which a fair market value can be assigned for purposes of determining Net Sales.

First Commercial Sale means the date of the first sale or other disposal of Product for consideration by the Licensee or its sublicensee.