Product Term definition

Product Term means, on a Product-by-Product basis, the term during which a Product shall be supplied by the Supplier to Recipient according to this Agreement, as set out by Product in Schedule 1;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Product Term means the initial term and any subsequent renewal term(s) for the Software, as set forth in the applicable Transaction Document.

Product Term means the duration of the CD, as described in the Term Sheet, from the Initial Value Date to the Maturity Date.

Examples of Product Term in a sentence

If Customer purchases a subscription for M&S, Snow will provide Customer support, upgrades, bug fixes, and other maintenance services for the covered Products during the M&S Product Term in accordance with the policy located at ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇/int/cst (“M&S Policy”).
During the Product Term and for a period of two (2) years thereafter, AVEVA shall be permitted to audit and/or shall be permitted to have its designee audit (at least once annually and in accordance with AVEVA’s standard procedures, which may include on-site and/or remote audits of facilities, systems, records, and personnel) the usage of the Software and Customer’s compliance with the Agreement.
Upon termination or expiration of the Product Term, Customer shall destroy or return at AVEVA’s discretion to AVEVA the Software (regardless of the media upon which such Software is fixed) and any related software install kits, licenses, or licensing management software.
Section 15.02 The Supplier and/or Recipient may terminate a Product Term for convenience if Schedule 1 provides for such termination right, in which case the Supplier and/or Recipient may terminate the Product Term in accordance with the notice periods and other requirements set out in Schedule 1; and provided that such termination right may only be exercised for a Product group in whole (as identified in Schedule 1).
The Long Term Forecast will thereafter be updated every six months (as of June 1 and December 1) during the Initial Product Term.

More Definitions of Product Term

Product Term has the meaning given to it in clause 40.6.

Product Term means, with respect to a given Regeneron Product, the expiration of the Royalty Term with respect to such Regeneron Product. Upon the expiration of the Product Term for a given Regeneron Product the licenses and rights under Sections 6.3 and 6.4 with respect to such Regeneron Product shall become fully paid-up, perpetual and irrevocable licenses. CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECRETARY OF THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO AN APPLICATION REQUESTING CONFIDENTIAL TREATMENT PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

Product Term has the meaning set out in Clause 3.1 of this License Agreement.

Product Term means the period beginning as of the Effective Date and ending upon the earlier of (i) such time as the Licensed Product is no longer being developed, Commercialized, or sold by LICENSEE or any of its Affiliates, assignees, licensees, sublicensees, transferees, distributors, or marketing partners in the Territory, or (ii) termination or expiration of this Agreement as provided herein.

Product Term means the Initial Product Term and any Product Renewal Term for such Product, which is the period of time during which Agent and any applicable authorized End User has a limited license to use such applicable Product according to the terms and conditions of this Agreement and the terms of the applicable AgencyZOOM End User License Agreement.

Product Term has the meaning set forth in Section 10.1.

Product Term shall have the meaning set forth in Section 14.1(b)(iii).