Examples of LANNETT in a sentence
Reimbursement of negative Net Profits owed by ELITE in this Section 3.3 shall be payable to LANNETT within forty-five (45) days after receipt of an invoice from LANNETT.
In addition to Article 8.2, (i) either Party may terminate this Agreement pursuant to Articles 14.3 (Assignment without Consent) and 14.5 (Force Majeure), and (ii) LANNETT may terminate this Agreement pursuant to Article 4.4 (Failure to Supply) and Article 9.2(c) (Debarred), and (iii) ELITE may terminate this Agreement pursuant to Article 9.3(c) (Debarred).
ELITE is responsible for ensuring the most current labeling content, consistent with the reference listed drug (“RLD”) labeling content and all requested FDA updates, is used on Products supplied to LANNETT.
Each Master Production Plan and accompanying binding Purchase Order shall be deemed to be automatically accepted unless ELITE notifies LANNETT of its rejection of the same within four (4) Business Days of receipt.
At either Party’s written request, the Parties will discuss in good faith the revision of the Transfer Price (and any subsequently agreed prices) to take into account adverse market conditions resulting in unsatisfactory returns for LANNETT or changes in the manufacturing costs for the Products.
Further, ELITE shall provide a reasonable description to LANNETT of any such governmental inquiries, notifications or inspections related to Products promptly (but in no event later than five (5) calendar days) after such visit or inquiry.
Notwithstanding the foregoing, both LANNETT and ELITE shall be entitled to assign its rights and performance of its obligations under this Agreement to any Affiliate or to the acquirer of all or substantially all of the business or assets to which this Agreement relates (whether by stock sale, asset sale, merger, consolidation or otherwise), provided that the assigning Party remains fully responsible for the performance of the obligations of its Affiliates under this Agreement.
LANNETT (and its designees) shall have no obligation to inspect the Product beyond the visual inspection provided for in this Article 4.8(a).
ELITE shall also maintain, or cause to be maintained (i) all manufacturing records, standard operating procedures, validation records, equipment log books, batch records, laboratory notebooks and all raw data relating to the manufacturing of the Products, and (ii) such other records as LANNETT may reasonably require in order to ensure compliance by ELITE with the terms of this Agreement.
ELITE hereby grants to LANNETT and its Affiliates an exclusive right to fully commercialize the Products in the Territory.