Product Reduction definition

Product Reduction means the amount of Product volume no longer required by a Mill due to a Change Event.
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Examples of Product Reduction in a sentence

  • With respect to the Year in which the Competing Product Reduction first occurs, then within [***] days after the end of such Year, Mallinckrodt shall report to Licensor the difference between the royalties actually paid in respect of Net Sales in such Year and the royalties that should have been paid in such Year taking into consideration the Competing Product Reduction and Licensor shall remit such difference to Mallinckrodt promptly after its receipt of such report.

  • Additionally, Net Sales in each Calendar Quarter for which an Acquiring Organization Competing Product Reduction applies shall not be counted for the purposes of determining whether Lian must pay Tarsus further Commercial Milestone Payments (defined in Section 9.4.1).

  • For the avoidance of doubt, the Competing Product Reduction, if any, shall be in addition to any reduction in the royalty rate pursuant to Section 8.6.3(b) or 8.6.3(c) above, but subject to Section 8.6.4 below.

  • The foregoing Acquiring Organization Competing Product Reduction shall only apply with respect to Calendar Quarters in which the Acquiring Organization of Tarsus under sub-clause (a) or the purchaser of the applicable assets under sub-clause (b) Commercially Sells a Competing Product in the Territory.

  • In no event may the aggregate reduction on the royalty rate under Section 4.2.2 and the Combination Product Reduction reduce the applicable royalty rate to less than fifty percent (50%) of the royalty rate that would otherwise have applied.

  • For clarity, this Section 5.5(e)(i) will also apply following the exercise of a Product Opt-Out Option or Product Reduction Option, to any remaining Joint Development Program after reallocation pursuant to Section 5.5(b)(i).

  • For clarity, if the Lead Party is exercising a Product Reduction Option for one (1) or more Distinct Products, then this Section 5.5(g)(iv) shall apply only to the Joint Development Program that includes such Distinct Products following the reallocation set forth in Section 5.5(b)(i).

  • For clarity, if a Party exercises a Product Reduction Option, the previous sentence applies to any Joint Development Program formed pursuant to Section 5.5(b)(i) as a result of such exercise.