First Shipment definition

First Shipment means the date of the first commercial shipment of Materials to Purchaser.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

First Shipment shall have the meaning set forth in Section 2(d)(i).

First Shipment means, with respect to a Product, the first shipment of such properly prescribed Product from a specialty pharmacy within Seller’s distribution network to a patient in the United States after U.S. Marketing Approval of such Product has been granted, or such marketing and sale is otherwise permitted, by the FDA. For clarity, First Shipment shall not include any Net Sales Exceptions.

Examples of First Shipment in a sentence

• Starting on the First Shipment Date and each Year during the term of this Agreement thereafter, TIANWEI agrees to purchase from HOKU, and HOKU agrees to sell to TIANWEI, the Minimum Annual Quantity of Product at the prices set forth on Appendix 1 to this Agreement (the “Pricing Schedule”).

• If Licensee has a First Shipment Date for a new line of Licensed Products within the first fifteen months following the First Shipment Date for the previous line of Licensed Products, then Licensee shall be free to begin selling the previously launched line to mass market upon the First Shipment Date of the new line, but in no event earlier than twelve months following the First Shipment Date of the previous line.

• For each line of Licensed Products, Licensee shall not be permitted to begin selling into the mass market until at least twelve months after the First Shipment Date of such line.

• Starting on the First Shipment Date and each Year during the term of this Agreement thereafter, CUSTOMER agrees to purchase from HOKU, and HOKU agrees to sell to CUSTOMER, the Minimum Annual Quantity of Product at the prices set forth on Appendix 1 to this Agreement (the “Pricing Schedule”).

• SELLER will confirm the First Shipment Date in writing within fifteen (15) days after the date of such first shipment.

• The term of this Agreement (the "Initial Term") shall commence on the date of signature of this Agreement by both parties, and shall expire eight (8) years after the date of the first shipment of Product ("First Shipment Date"), unless terminated earlier in accordance with the provisions of this Agreement, and shall be renewable by BUYER for five (5) subsequent periods of three (3) years each.

• Refining Premiums as shown in Exhibit B (attached hereto and incorporated herein by reference) are guaranteed for a period of five (5) years from First Shipment Date (as defined in Section 8(A) hereof.

• The previous line may be shipped to customers in the mass market up to thirty days before it may first be sold hereunder, provided that it does not appear on mass market retail shelves until the date which is twelve to fifteen months (as applicable) following the First Shipment Date of each previous line.

• The term "Agreement Year", as used in this Agreement, shall mean the 12-month period commencing on the First Shipment Date (as defined in Section 8(A) hereof), and each 12-month period thereafter during the Term.

• During the term of the first year the SELLER's sales minimum of 290 million pounds will be adjusted to reflect actual shipments made during the first three months after the First Shipment Date.

More Definitions of First Shipment

First Shipment means the first shipment for commercial sale of the applicable Product, F.O.B. DRAXIMAGE's facility.

First Shipment means the date of the first commercial shipment of Commercial Materials to Purchaser.