FTO Status definition
FTO Status means that (i) final Regulatory Approval (which includes without limitation WCH's consumer labeling and packaging) and, if applicable, Pricing Approval to market Product have been obtained, (ii) all legal claims, actions, proceedings and appeals with respect to a Product, including without limitation the Patent Litigations, have been finally resolved in WCH's and in IMPAX's favor or discontinued, and (iii) all relevant patents have expired, been declared invalid or determined by WCH not to be infringed by a Product.
FTO Status means that (i) final Regulatory Approval (which includes without limitation WCH's consumer labeling and packaging) and, if applicable, Pricing Approval to market the Product have been obtained, (ii) all legal claims, actions, proceedings and appeals with respect to the Product have been finally resolved in WCH's and in CIMA'S favor, and (iii) all relevant patents have expired, been declared invalid or determined by WCH not to be infringed by the Product.
Examples of FTO Status in a sentence
If WCH gives CIMA notice that it desires to launch a Product in the OTC Field in a Market, WCH shall, subject to supply by CIMA of launch quantities of Product, use Commercially Reasonable Efforts to launch Product in such Market in the OTC Field within five (5) months following the Product having FTO Status for the OTC Field in such Market.
WCH shall, subject to supply by CIMA of launch quantities of Product, use Commercially Reasonable Efforts to launch Product in the United States in the OTC Field within three (3) months following the Product having FTO Status for the OTC Field in the United States.