Redesignation Each definition
Redesignation Each. B" Share shall (unless the Company has previously served an "B" Redemption Notice) be automatically redesignated as an ordinary share on the date thirty days after receipt by the Company of a royalty statement from SB stating that the reported sales of Paroxetine/Paxil in combination with the Geomatrix Technology marketed by SB or a sub- licensee or contract partner of SB during any calendar year ending prior to 1 January 2006 exceed US $1,000,000,000 (One Billion US Dollars) or during the period 1 January 2006 to 3 May 2006 (both dates inclusive) exceed US $337,000,000 (Three Hundred and Thirty Seven Million US Dollars) ("the Second Relevant Event").
Redesignation Each. A" Share shall (unless the Company has previously served an "A" Redemption Notice) be automatically redesignated as an ordinary share on the date falling 30 days after the first commercial sale of Paroxetine/ Paxil in combination with Geomatrix Technology by SmithKline ▇▇▇▇▇▇▇ PLC ("SB") or any sub licensee or contract partner of SB under a licence agreement dated 20 March 1996 ("the First Relevant Event".