Licensees definition
Examples of Licensees in a sentence
Each Party will, and Sermonix will cause its Ex-Territory Licensee(s) to, conduct all Development activities for which it is responsible under this Agreement in a good scientific manner, and in compliance with Applicable Law (including GLP, GCP and GMP, as applicable).
The Obligors shall prepare and maintain and shall use commercially reasonable efforts to cause their respective Licensees to prepare and maintain reasonably complete and accurate records of the information to be disclosed in each Quarterly Report.
Each Party will, and Sermonix will cause its Ex-Territory Licensees to, maintain written or electronic records, in sufficient detail, in a good scientific manner, in accordance with Applicable Law (including GLP, GCP, and GMP, as applicable), and appropriate for regulatory and patent purposes, and that are complete and accurate and reflect all Development work performed and results achieved, in each case, by or on behalf of such Party (or in the case of Sermonix, its Ex-Territory Licensees).
Each of the Obligors shall keep and maintain, cause its Subsidiaries to keep and maintain, and use commercially reasonable efforts to cause its Affiliates and Licensees to keep and maintain, at all times, full and accurate books of account and records adequate to correctly reflect (and in sufficient detail to permit the Purchaser Agent to confirm the accuracy of) all payments paid and/or payable with respect to the Revenue Interests.
Licensee acknowledges that such reduced royalty is fair and reasonable in order to compensate Ligand for Licensee's continuing license of the Ligand Know-How.