SUSPENSION YEAR definition

SUSPENSION YEAR shall be the period of twelve months from the Suspension Date or an anniversary of Suspension Date until the next anniversary of the Suspension Date. The “First Suspension Year” shall be the Suspension Year running from the Suspension Date until the first anniversary of the Suspension Date.
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SUSPENSION YEAR shall have the meaning specified in Section 7.6.
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SUSPENSION YEAR as defined in Clause 16.1.
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Examples of SUSPENSION YEAR in a sentence

  • Lilly shall not be required to pay an Annual Subscription Fee for the Suspension Year unless and until Lilly exercises its Reinstatement Election.

  • During the Suspension Period, the License shall continue in effect as to all Screening Products offered for sale by Caliper in prior Contract Years but shall not extend to Screening Products first offered for sale by Caliper during the Suspension Year unless and until Lilly exercises its Reinstatement Election.

  • Caliper shall disclose to Lilly during the Suspension Year all new Screening Products offered by Caliper during such year.

  • If Lilly does not exercise the Reinstatement Election, then the Term shall expire as of the last day of the Suspension Year.

  • A Suspension shall not constitute a termination of this Agreement or an interruption of the Term, and, except as expressly provided in this Section 7.6, all of the terms and provisions of this Agreement shall continue to apply during the period from the first day of the Suspension Year until Lilly exercises its Reinstatement Election or such Suspension Year ends, whichever comes first (the "Suspension Period").

  • Notwithstanding any other provision of this Agreement, Lilly shall be entitled, in its sole discretion, to suspend its participation in the TAP during the [ * ] Contract Year of the Term (a "Suspension") by giving written notice to Caliper of its election to do so no later than [ * ] to which the suspension applies (the "Suspension Year").