First Commercial Year definition

First Commercial Year means the period commencing on the Effective Date and ending on December 31, 2004.
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First Commercial Year is the one (1) year period commencing on January 1, 2000. The four (4) years following the First Commercial Year shall be referred to as the "Second", "Third", "Fourth" and "Fifth" Commercial Years, respectively.
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First Commercial Year means the period from the Date of Market Introduction as defined in Section 1.04 through December 31, 2004; provided, however, that the Date of Market Introduction shall be no later than February 1, 2004. In the event that the Date of Market Introduction is after February 1, 2004, the Parties shall negotiate in good faith any adjustment necessary to the minimum purchase commitment created under the blanket Purchase Orders delivered in accordance with Section 3 and the price of such Products as determined in Section 3.
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Examples of First Commercial Year in a sentence

  • In addition to termination rights described above, LICENSOR has a legal right to collect such amount notwithstanding LICENSEE's failure to achieve the fifty (50) GGUs during the First Commercial Year.

  • INSPIRE agrees its annual out-of-pocket costs for promotion and advertising (excluding detailing and Sales Force costs) (“Marketing Costs”) shall not be less than two million dollars ($2,000,000) for the First Commercial Year and each Commercial Year thereafter (which amount shall be prorated for any Commercial Year of less than twelve (12) months) during the Term.

  • INSPIRE agrees its annual out-of-pocket costs for promotion and advertising (excluding detailing and Sales Force costs) (“Marketing Costs”) shall not be less than [confidential treatment requested] for the First Commercial Year and each Commercial Year thereafter (which amount shall be prorated for any Commercial Year of less than twelve (12) months) during the Term.

  • Thereafter, LICENSEE has a legal right to collect license fees only for actual GGUs (as defined in Section 1.1 of the Agreement) and the LICENSOR's only recourse for LICENSEE's failure to achieve the annual minimum number of GGUs after the First Commercial Year of the Agreement is to terminate the license granted in the Agreement.

  • Purchase orders for neo2000 Systems placed by Ethicon prior to the First Commercial Year shall count towards the MPR for the First Commercial Year.

  • If the copyright is owned jointly by one or more individuals, a written agreement on division of royalties should be signed.


More Definitions of First Commercial Year

First Commercial Year means the first full calendar year beginning after the granting of Regulatory Approval by the FDA for the System.
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Related to First Commercial Year

  • 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.

  • Date of Commercial Operation or “COD” means

  • Commercial Operation Date means the date on which a Material Project is substantially complete and commercially operable.

  • Scheduled Commercial Operation Date shall have the meaning ascribed to it in Clause 5.4.1;

  • Commercial Development Plan means the written commercialization plan attached as Appendix E.

  • Commercial Launch means the initial First Commercial Sale of a Product in the Territory.

  • Commercial Operations Date or "COD": The date on which Facility first achieves Commercial Operations.

  • Commercial Operation means the condition of operation in which the complete equipment covered under the Contract is officially declared by the Owner to be available for continuous operation at different loads up to and including rated capacity. Such declaration by the Owner, however, shall not relieve or prejudice the Contractor of any of his obligations under the Contract.

  • Commercial plan means a subcontracting plan (including goals) that covers the offeror’s fiscal year and that applies to the entire production of commercial items sold by either the entire company or a portion thereof (e.g., division, plant, or product line).

  • Commercial Operation Date (COD) means the date certified by the DISCOM’s committee upon successful commissioning (as per provisions of the PPA) of the project when all equipments as per rated capacity have been installed and energy has flown into the grid.

  • Calendar Year means each successive period of twelve (12) months commencing on January 1 and ending on December 31.

  • Guaranteed Commercial Operation Date has the meaning set forth in Section 3.9(c)(i).

  • Commercial Operations Upon satisfaction of the following conditions, the Facility shall be considered to have achieved Commercial Operations on the Day specified in Seller's written notice described below: (i) the Acceptance Test has been passed, (ii) all generating units have passed Control System Acceptance Tests, (iii) the Transfer Date has occurred, (iv) Seller has (1) provided to Company the Required Models (as defined in Section 6(a) (Seller's Obligation to Provide Models) of Attachment B (Facility Owned by Seller)) in the form of Source Code, (2) placed the current version of the Source Code for the Required Models with the Source Code Escrow Agent as required in Section 6(b)(i)(A) (Establishment of Source Code Escrow) of Attachment B (Facility Owned by Seller), or (3) if Seller is unable to arrange for the placement of the appropriate Source Code into the Source Code Escrow account, placed the required funds with the Monetary Escrow Agent as required in Section 6(b)(ii)(A) (Establishment of Monetary Escrow) of Attachment B (Facility Owned by Seller), and (v) Seller provides Company with written notice that (aa) Seller is ready to declare the Commercial Operations Date and (bb) the Commercial Operations Date will occur within 24 hours (i.e., the next Day).

  • Commercial Sale means for a given product and country the sale for value of that product by a Party (or, as the case may be, by an Affiliate or permitted sublicensee of a Party), to a Third Party after regulatory approval (if necessary) has been obtained for such product in such country.

  • Initial Development Plan has the meaning set forth in Section 3.2(b).

  • Commence commercial operation means, with regard to a unit that serves a generator, to have begun to produce steam, gas, or other heated medium used to generate electricity for sale or use, including test generation subject to the following:

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Exploration Period means the period mentioned in Article 3 during which Exploration Operations may be carried out by the Contractor as provided in Article 3 hereof.

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Program Year means the annual period beginning January 1 and ending December 31.

  • Services Commencement Date means the date delivery of the Services shall commence as specified in the Key Provisions. If no date is specified in the Key Provisions this date shall be the Commencement Date;

  • Gas Year means the period of 365 or 366 Gas Days, as the case may be, beginning at October 1st at 06:00 hours (Belgian time) and ending at September 30th 06:00 hours (Belgian time) of the next year.

  • Pay Out Commencement Date means the date on which a Trust Pay Out Event is deemed to occur pursuant to Section 9.01 of the Agreement or a Series 2001-D Pay Out Event is deemed to occur pursuant to Section 7 hereof.

  • Development Period means the period from the date of this Agreement until the Appointed Date;

  • Calendar Quarter means the respective periods of three (3) consecutive calendar months ending on March 31, June 30, September 30 and December 31.

  • Framework Commencement Date means [insert date dd/mm/yyyy];