Inactive Party definition

Inactive Party has the meaning set forth in Section 5.3.5.
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Inactive Party has the meaning ascribed to such term in Section 6.1.
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Inactive Party shall have the meaning set forth in Section 6.1.
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Examples of Inactive Party in a sentence

  • The Active Party shall promptly provide the Inactive Party with notice of such proceedings and keep the Inactive Party regularly informed of progress and promptly provide the Inactive Party with such information as the Inactive Party may reasonably require including copies of all documents filed at court in the proceedings.

  • The Inactive Party shall promptly provide the Active Party with all documents and assistance as the Active Party may reasonably require.

  • If a Party becomes an Inactive Party, the Active Party shall have the rights under Section 5.1(d) or 5.2(d), as applicable.

  • Upon any such termination, the terms of Sections 6.1, 6.3 and 6.4 will apply and the Active Party shall have no further obligations to the Inactive Party with regard to such Collaboration Product, except as set forth in such Sections.

  • The Active Party shall pay the Inactive Party a royalty on the sales of Collaboration Products as follows.

  • Unless this Agreement is terminated, the Inactive Party shall, nevertheless, be entitled to receive its share of any cash and/or profits due it pursuant to this Agreement and shall continue to be obligated to make all contributions of funds required to be made under this Agreement and to perform under this Agreement at the time and in the manner provided in this Agreement.

  • Upon any such termination, the terms of Article 6 shall apply, and the Active Party shall have no further obligations to the Inactive Party with regard to such Product, except as set forth therein.

  • If a Party becomes an Inactive Party, the Active Party shall have a perpetual, royalty-free right to use any data jointly obtained by the Parties relating to the Product(s) for which the other Party became an Inactive Party, to develop and commercialize such particular Products in the Joint Territory.

Related to Inactive Party

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Inactive member means a member of the pension program or the individual account pro-

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • Inactive Account means a trader’s Account which had Client-Initiated activity and subsequently it remained inactive for a period of 90 days.

  • Inactive Employee means an employee who is not actively at work due to approved leave of absence, short-term disability leave or military leave.