Common use of Disposition of Inventory Clause in Contracts

Disposition of Inventory. New River shall have the option, exercisable within thirty (30) days following the effective date of such termination, to purchase any inventory of Collaboration Products affected by such termination at Shire’s Cost of Goods therefor. New River may exercise such option by written notice to Shire during such thirty (30)-day period. Upon such exercise, the Parties will establish mutually agreeable payment and delivery terms for the sale of such inventory. If New River does not exercise such option during such thirty (30)-day period, or if New River provides Shire with written notice of its intention not to exercise such option, then Shire and its Affiliates and sublicensees will be entitled, during the period ending on the last day of the sixth (6th) full month following the effective date of such termination, to sell any inventory of Collaboration Products affected by such termination that remain on hand as of the effective date of the termination, so long as Shire pays to New River the royalties applicable to said subsequent sales, with respect to sales in the ROW Territory, in accordance with the terms and conditions set forth in this Agreement.

Disposition of Inventory. New River shall have the option, exercisable within thirty (30) days following the effective date of such termination, to purchase any inventory of Collaboration Products affected by such termination at Shire’s Cost of Goods therefor. New River may exercise such option by written notice to Shire during such thirty (30)-day period. Upon such exercise, the Parties will establish mutually agreeable payment and delivery terms for the sale of such inventory. If New River does not exercise such option during such thirty (30)-day period, or if New River provides Shire with written notice of its intention not to exercise such option, then Shire and its Affiliates and sublicensees will be entitled, during the period ending on the last day of the sixth (6th) full month following the effective date of such termination, to sell any inventory of Collaboration Products affected by such termination that remain on hand as of the effective date of the termination, so long as Shire pays to New River the royalties then-applicable to said subsequent sales, with respect to sales in portion of the ROW TerritoryUS Product Profit, in accordance with the terms and conditions set forth in this Agreement.

Disposition of Inventory. New River shall have the option, exercisable within thirty (30) days following the effective date of such termination, to purchase any inventory of Collaboration Products affected by such termination at Shire’s Cost of Goods therefor. New River may exercise such option by written notice to Shire during such thirty (30)-day period. Upon such exercise, the Parties will establish mutually agreeable payment and delivery terms for the sale of such inventory. If New River does not exercise such option during such thirty (30)-day period, or if New River provides Shire with written notice of its intention not to exercise such option, then Shire and its Affiliates and sublicensees will be entitled, during the period ending on the last day of the sixth (6th) full month following the effective date of such termination, to sell any inventory of Collaboration Products affected by such termination that remain on hand as of the effective date of the termination, so long as Shire pays to New River the then-applicable portion of the US Product Profit, with respect to sales in the US Territory, or the royalties applicable to said subsequent sales, with respect to sales in the ROW Territory, in accordance with the terms and conditions set forth in this Agreement.