Supply Interruption Event definition

Supply Interruption Event means a (a) disruption in the supply, or delayed supply, of any material quantities of inventories of Products necessary for Seller and its Affiliates to conduct the Product Business; or (b) stock-out in the distribution network of Seller and its Affiliates.
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Supply Interruption Event shall be deemed to have occurred upon the completion of either (i) two (2) consecutive quarters, or (ii) any three (3) quarters in a period of seven (7) consecutive quarters, in each case during which Exhale has received less than sixty percent (60%) of the amount of Drug Product or Drug Substance (as applicable) for which Exhale had placed a firm order.
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Supply Interruption Event means (a) the failure by Seller to deliver goods under this Contract in material breach of the provisions of this Contract and such default is not cured within ten (10) days, (b) the insolvency of Seller, the entry by Seller into voluntary or involuntary bankruptcy, or the filing against Seller of a petition in bankruptcy filed against it (if such petition is not dismissed within sixty (60) days after the applicable stay becomes effective), or the appointment of a receiver with respect to all or substantially all of Seller’s assets, or the cessation of the conduct of business by Seller in the ordinary course, (c) an event of force majeure, including without limitation, political or labor unrest or natural disaster, that interrupts the manufacture and/or supply of goods under this Contract if such force majeure event lasts longer than thirty (30) days; (d) repudiation of this Contract by Seller, or (e) termination of this Contract by reason of a material breach by Seller. If requested in writing by Buyer, Seller grants Buyer a perpetual, irrevocable, worldwide, nonexclusive license (with rights to grant sublicenses through multiple tiers) on Commercially Reasonable Terms under Seller’s Background Intellectual Property Rights to make, have made, sell, import, distribute, adapt and use and otherwise exploit all Intellectual Property Rights to the extent necessary for Buyer or its designees to manufacture the goods supplied by Seller under this Contract for the remainder of the lifetime of the Buyer program utilizing the goods supplied by Seller. For purposes of this Paragraph, “Commercially Reasonable Terms” shall include a commercially reasonable royalty and shall take into account, among other reasonable commercial considerations, the relative technical or other contributions by the parties and the level of business offered to the Seller and the Buyer (or the Buyer’s customer’s).
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Examples of Supply Interruption Event in a sentence

  • Notwithstanding the foregoing, the crediting of any service described in this Section 2 of Annex B shall not operate to duplicate any benefit.

  • Unless Pharmion has exercised its option to be paid the Recapture Amount as set forth in clause (a) above, upon the occurrence and during the continuation of a Supply Interruption Event, upon thirty (30) days prior written notice from Pharmion to Schering, Schering will permit Pharmion to Manufacture or have Manufactured the Product for the term of this Agreement under the Patents and by reference to the Trade Marks, and to supply such Product in the Territory.

  • Upon the occurrence of a Supply Interruption Event, Schering shall be obligated to continue to supply Product to Pharmion to the extent provided in this Agreement unless Pharmion exercises its right to be paid the Recapture Amount as provided in clause (a) below.


More Definitions of Supply Interruption Event

Supply Interruption Event means an event that results in the delay, suspension or interruption of Supplier’s supply of the Product to Distributor under this Agreement for a continuous period of 60 days or more, including without limitation: (i) a Capacity Shortage (as defined below); (ii) a force majeure event; (iii) where there is a delay in Supplier’s receipt of full regulatory clearances and approvals from the U.S. Food and Drug Administration that are necessary or advisable for commercial implant of the Product in the United States of America; (iv) where there is a delay in Distributor’s receipt of any Regulatory Approvals for the Product in the relevant parts of the Territory as a result of Supplier’s failure to meet any obligations under this Agreement, including without limitation the obligation to supply Distributor with Products which meet the Product Warranty Requirements set forth in Section 7(i) of this Agreement; or (v) where the Supplier places orders on hiatus whilst implementing upgrades to the Products.
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Supply Interruption Event shall be deemed to have occurred upon the completion of either (i) two (2) consecutive Contract Quarters, or (ii) any three (3) Contract Quarters in a period of seven (7) consecutive Contract Quarters, in each case during which CoTherix has received less than sixty percent (60%) of the amount of Commercial Product for which CoTherix had placed a Firm Order.
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Related to Supply Interruption Event

  • Services Interruption Event means any interruption to a Works caused by; a Force Majeure Event, the Customer’s failure to carry out or perform any obligation required of it under this agreement which in the sole opinion of the Company does or may cause a delay in the Works and any other matter which in the reasonable opinion of the Company will cause an interruption or delay in the performance of the Works;

  • Severe Disruption Event means any event specified as such in the Final Terms.

  • Disruption Event means either or both of:

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Supply Failure has the meaning given to it in Section 7.5.2 (Supply Failure).

  • FX Disruption Event ' means the occurrence of any event on any day or any number of consecutive days as determined by the Calculation Agent in its sole and reasonable discretion that affects the Issuer’s currency hedging (if any) with respect to the Products.

  • Interruption Period shall have the meaning set forth in Section 5 hereof.

  • Service Interruption means the cessation of electricity supply to an ICP for a period of 1 minute or longer, other than by reason of De-energisation of that ICP:

  • SOFR Index Cessation Event means the occurrence of one or more of the following events:

  • €STR Index Cessation Event means the occurrence of one or more of the following events:

  • Unplanned Service Interruption means any Service Interruption where events or circumstances prevent the timely communication of prior warning or notice to the Trader or any affected Customer;

  • Catastrophic Event means a rare circumstance in which mass casualties and/or significant property damage has occurred or is imminent (e.g. September 11th, hurricanes, earthquakes greater than 6.1 on the Richter scale)

  • Generator Planned Outage means the scheduled removal from service, in whole or in part, of a generating unit for inspection, maintenance or repair with the approval of the Office of the Interconnection in accordance with the PJM Manuals.

  • OBFR Index Cessation Event means the occurrence of one or more of the following events:

  • Force Majeure Failure has the meaning set forth in Section 8.1(d).

  • Index Cessation Event means, with respect to an Applicable Benchmark, (a) a public statement or publication of information by or on behalf of the Administrator of the Applicable Benchmark announcing that it has ceased or will cease to provide the Applicable Benchmark permanently or indefinitely, provided that, at the time of the statement or publication, there is no successor administrator or provider, as applicable, that will continue to provide the Applicable Benchmark; or (b) a public statement or publication of information by the regulatory supervisor for the Administrator of the Applicable Benchmark, the central bank for the currency of the Applicable Benchmark, an insolvency official with jurisdiction over the Administrator for the Applicable Benchmark, a resolution authority with jurisdiction over the Administrator for the Applicable Benchmark or a court or an entity with similar insolvency or resolution authority over the Administrator for the Applicable Benchmark, which states that the Administrator of the Applicable Benchmark has ceased or will cease to provide the Applicable Benchmark permanently or indefinitely, provided that, at the time of the statement or publication, there is no successor administrator or provider that will continue to provide the Applicable Benchmark.

  • Excluded Downtime has the meaning set forth in Section 2 below.

  • Rejection Event means, in respect of the Benchmark, the relevant competent authority or other relevant official body rejects or refuses or will reject or refuse any application for authorisation, registration, recognition, endorsement, equivalence, approval or inclusion in any official register which, in each case, is required in relation to the Securities, the Benchmark or the administrator or sponsor of the Benchmark under any applicable law or regulation for the Issuer or any other entity to perform its obligations in respect of the Securities.

  • Excused Outage means any disruption to or unavailability of Services caused by or due to (i) Scheduled Maintenance,

  • Reduction Event means any of the following:

  • Epidemic Failure means a series of repeating failures or defects resulting in at least a 0.5% failure rate for the same Product or Material during any twelve-month period.

  • Technical Failure means the discontinuation of Development or Commercialization of a Product for technical, scientific, medical or regulatory reasons, including, but, not limited to, unacceptable preclinical toxicity, demonstration of a side effect profile significantly worse than currently marketed products, or inability to manufacture in an acceptable purity or for an acceptable price.

  • Force Majeure Event means an event, or a series of related events, that is outside the reasonable control of the party affected (including failures of the internet or any public telecommunications network, hacker attacks, denial of service attacks, virus or other malicious software attacks or infections, power failures, industrial disputes affecting any third party, changes to the law, disasters, explosions, fires, floods, riots, terrorist attacks and wars);

  • Major disaster means any natural catastrophe (including any hurricane, tornado, storm, high water, winddriven water, tidal wave, tsunami, earthquake, volcanic eruption, landslide, mudslide, snowstorm, or drought), or, regardless of cause, any fire, flood, or explosion, in any part of the United States, which in the determination of the President causes damage of sufficient severity and magnitude to warrant major disaster assistance under this Act to supplement the efforts and available resources of States, local governments, and disaster relief organizations in alleviating the damage, loss, hardship, or suffering caused thereby.

  • Planned Service Interruption means a Service Interruption that has been scheduled to occur in accordance with schedule 5;

  • Service Failure means a failure by the Contractor to provide the Services in accordance with any individual service level described above (measured on a monthly/quarterly/annual basis)