Commercial Sale definition

Commercial Sale means for a given product and country the sale for value of that product by a Party (or, as the case may be, by an Affiliate or permitted sublicensee of a Party), to a Third Party after regulatory approval (if necessary) has been obtained for such product in such country.

Commercial Sale means the sale of Product (as indicated by shipment of Product) to an unaffiliated third-party of the Licensee, or of its sublicensee or distribution partner, such as a wholesaler, managed care organization, hospital or pharmacy and shall exclude (i) any transfer of Product by Licensee to its sublicensee, distribution partner or Affiliate and (ii) any distribution of Product for use in research, development, pre-clinical and clinical trials.

Commercial Sale means any bona fide transaction with a Third Party for which consideration is received for the sale, use, lease, transfer or other disposition of a Licensed Product by or on behalf of Licensee or its Sublicensee. Commercial Sale is deemed completed when a bona fide transaction qualifies as a Gross Sale.

Examples of Commercial Sale in a sentence

• The Licensee agrees, after its First Commercial Sale and as part of its marketing and product promotion, to develop educational materials (e.g., brochures, website, etc.) directed to patients and physicians detailing the Licensed Products or medical aspects of the prophylactic and therapeutic uses of the Licensed Products.

• We are obligated to make the following milestone payments to UCLA TDG for each Licensed Product or Licensed Method: ● $100,000 upon enrollment of the first subject in a Feasibility Study; ● $250,000 upon enrollment of the first subject in a Pivotal Study: ● $500,000 upon Pre-Market Approval of a Licensed Product or Licensed Method; and ● $1,000,000 upon the First Commercial Sale of a Licensed Product or Licensed Method.

• The Contractor shall provide independent technical assessment, evaluations and analysis in support of pre-case, FMS and Direct Commercial Sale efforts.

• The Licensee agrees, after its First Commercial Sale, to make reasonable quantities of Licensed Products or materials produced through the use of Licensed Processes available to patient assistance programs.

• The Licensee shall report to the IC the dates for achieving Benchmarks specified in Appendix D and the First Commercial Sale in each country in the Licensed Territory within thirty (30) days of such occurrences.

More Definitions of Commercial Sale

Commercial Sale means any transaction, following receipt of all necessary government approvals to market a Licensed Product, that transfers to a purchaser, for value, physical possession of and title to such Licensed Product, after which transfer the seller has no right or power to determine the purchaser’s resale price. Any such transfer of possession and title to an Affiliate or Sublicensee shall not constitute a Commercial Sale unless the Affiliate or Sublicensee is an end user of the Licensed Product.

Commercial Sale means any TRANSFER of a PRODUCT or PROCESS by COMPANY, an AFFILIATE or SUBLICENSEE (which may include a TRANSFER to an AFFILIATE or SUBLICENSEE for value in the form of cash or otherwise.) Xxxxxxx-MGH License Agreement, Execution Version

Commercial Sale means any shipment of the Licensed Products in the Territory following receipt of Regulatory Approval pursuant to an arm’s length sale by Knight or its Affiliates, sublicensees or assignees to a Third Party.

Commercial Sale means any sale which transfers physical possession and title to any Licensed Product (hereinafter defined) to a Third Party in exchange for value and after which transfer the seller has no right or power to determine the Third Party's resale price. Transfer for research, development or testing purposes shall not constitute a Commercial Sale.

Commercial Sale means the sale of LifeVantage products to a third party who intends to resell such products to an end consumer.

Commercial Sale means the sale of a product in the stream of commerce at retail, at wholesale, or on the Internet.

Commercial Sale means with respect to each Licensed Product in each country, a bona fide commercial sale of such Licensed Product following marketing approval by the regulatory authority in such country; provided that where such a first commercial sale has occurred in a country for which government pricing or government reimbursement approval is needed for widespread commercial sale (for clarification, the parties acknowledge that no such approval is required in the United States) then a sale shall not be deemed a Commercial Sale until such pricing or reimbursement approval has been obtained.