First Commercial Use definition

First Commercial Use is defined in Article 13.2;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

First Commercial Use means the date upon which Net Sales Revenue or Sublicense Fees first occurs.

First Commercial Use means, with respect to any Licensed Use, the first sale for use or consumption by medical or health care personnel or organizations of such Licensed Use.

Examples of First Commercial Use in a sentence

• After the First Commercial Use of any Licensed Product hereunder, the term of the license with respect to such Licensed Product shall extend until one (1) year after the expiration of the patent life of each of the Licensed Patents covering such Licensed Product, unless sooner terminated as provided herein (such term for each Licensed Product, the “Commercial Term” for such Licensed Product).

• The Licensee will provide to UBC for its approval certificates of insurance evidencing the coverage 7 days before the earlier of any Human Clinical Trials or the First Commercial Use.

• The period in which royalties shall be due for each Licensed Use shall be from the later of (a) the date on which the Royalty Threshold has been reached, or (b) the date of First Commercial Use of any such Licensed Use and shall extend until the end of the Royalty Term covering such Licensed Use.

• Notwithstanding the foregoing, LICENSOR agrees that to the extent LICENSEE has commercially launched any Licensed Products prior to the time that LICENSOR attempts to revoke LICENSEE’s exclusivity under a specified license, LICENSEE shall retain exclusive rights to such Licensed Products that have already had a First Commercial Use for the remainder of the Commercial Term (as defined in Section 4.2 below) for such Licensed Product.

• First Commercial Use shall mean the initial transfer by HOOKIPA or its sublicensees to a third party of Licensed Products subject to royalties hereunder except such transfers that are related to research, development and testing purposes.

More Definitions of First Commercial Use

First Commercial Use means the first commercial sale of a Catarex Product in a Key Market.

First Commercial Use means the first export of electricity from the authorised development for commercial purposes;

First Commercial Use means the first sale by the Licensee or any Affiliate of any commercial quantities in the ordinary course of business of a Product to a party other than an Affiliate to which the Licensed Technology relates;

First Commercial Use means, with respect to a Procedure or Product in a country in the Territory, the first clinical use of such Procedure or sale or use of a Product in such country. Uses of Procedures or uses or sales of Products which are not for value shall not be considered a First Commercial Use.

First Commercial Use means the insertion of any advertising for which a fee is charged.

First Commercial Use means the first transfer by COMPANY or its sublicensees to a third party of Licensed Products or the first practice of a License Process in exchange for cash (or some equivalent to which value can be assigned for the purpose of determining Net Sales), with the exception of transfers or practices for research, development or test purposes. The expression "at Arm's Length Conditions" shall mean that the entity purchasing the concerned goods is totally out of reach for the entity selling the goods. This is intended to exclude any pricing that would not exclusively reflect mere business relations. For instance, the price agreed between a company and its subsidiary is not at arm's length conditions, so is not either the price agreed with a company that is also a supplier of the vendor, so that a part of the agreed effective price is paid through counter business or other advantages. The arm's length conditions provision is intended to be identical with "average market price" where a market exists but also applies where no market does in fact exist in connection with the concerned goods.

First Commercial Use means the first use of Work Nos. 1, 1A and 1B for the carriage for fare paying passengers;