Licensor Territory definition
Examples of Licensor Territory in a sentence
On a country-by-country and Licensed Product-by-Licensed Product basis in the Licensor Territory, upon first sale of a Biosimilar Product with respect to a Licensed Product in a country in the Licensor Territory, the Data Royalty payable to AffaMed for Net Sales of Licensed Products in the applicable country will be reduced by [***].
Licensor will have final decision-making authority with respect to any matter relating solely to Development activities in the Licensor Territory, provided that there is not a reasonable likelihood that any such Development activities could have a material safety impact in the Territory.
In accordance with Section 4.4 (Data Exchange and Use), during the Royalty Term for a Licensed Product in a country in the Licensor Territory, Licensor will pay to AffaMed royalties on annual Net Sales for the Licensed Products in the Licensor Territory at the royalty rates set forth below (the “Data Royalty”).
With respect to any such Third Party License that AffaMed enters into with the applicable Third Party, AffaMed will use reasonable efforts to ensure that such Third Party License includes the right to grant a sublicense to Licensor under such Blocking IP in the Licensor Territory on fair and reasonable terms.
From and after the Effective Date, if a Third Party asserts that a Patent Right or other right owned by it is infringed by the Exploitation of any Licensed Antibody or Licensed Product in the Field in the Licensor Territory, then Licensor will have the sole right to defend against any such assertions at Licensor’s sole cost or elect to settle such claims (except as set forth below).