GSI Sales definition
GSI Sales means sales from GSI to end users of Spacemaker Balloon Dissectors pursuant to Article 9.1B below. 2.16 "Guaranteed Payment" shall mean a negotiated transfer price for the Tissue Dissectors multiplied by a guaranteed minimum number of units of such dissectors which a potential purchaser (either Ethicon or a third party) would be obligated to purchase from GSI in a given [*********************** ********************************]. In the case of Ethicon, such negotiated transfer price will not exceed [**************************** ****************************************************]. 2.17 "Insolvency Event" shall mean the occurrence of any of the following events: (a) GSI shall admit in writing its inability, or be generally unable, to pay its debts as such debts become due; or (b) GSI shall (1) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (2) make a general assignment for the benefit of its creditors, (3) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "Bankruptcy Code"), (4) file a petition seeking to take advantage of any other law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (5) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (6) take any corporate action for the purpose of effecting any of the foregoing; or
Examples of GSI Sales in a sentence
GSI Sales Employees (as defined in Section 10(d)(i) below) shall undertake such sales on behalf of PKI during the 120 day period following the Amendment Effective Date.