Program Product definition
Examples of Program Product in a sentence
Subject to Section 7.3.5 (Cooperation), as among the Parties, ▇▇▇▇▇ has the first right, but not the obligation, to bring and control any legal action in connection with any Infringement of any (a) MeiraGTx Prosecuted Patent against any Infringement that is competitive with any Program Product or (b) any Lilly Prosecuted Patent.
Subject to Section 7 (New MeiraGTx In-License Agreements), MeiraGTx shall be responsible for all payments owed to Third Parties under any license or other agreement with respect to any material, Know-How or Patent licensed to Lilly hereunder or pursuant to which MeiraGTx or any of its Affiliates has rights with respect to any Program Product or the Exploitation thereof, entered into prior to, on or after the Effective Date by or on behalf of MeiraGTx or any of its Affiliates.
Until the First Commercial Sale of a Program Product in the Territory, Lilly shall provide MeiraGTx with a high-level written report summarizing its material development activities with respect to each Program Product on an [***].
Lilly may, [***] in its sole discretion and without cause, terminate this Agreement on a Program Product-by-Program Product basis or country-by-country basis upon (a) [***] prior written notice to MeiraGTx if such termination notice is delivered prior to the First Commercial Sale of such Program Product and (b) [***] prior written notice to MeiraGTx if such termination notice is delivered after the First Commercial Sale of such Program Product.
If ▇▇▇▇▇ is precluded from taking a Royalty reduction in a Calendar Quarter by operation of the limitation set forth in this Section 6.5.5 (Floor), then ▇▇▇▇▇ will be entitled to carry forward the amount of such reduction that ▇▇▇▇▇ was unable to take during a Calendar Quarter with respect to such Economic-Bearing Program Product to future Calendar Quarters and for such Economic-Bearing Program Product until Lilly has taken the amount of such reduction in full.