Commercial Year definition

Commercial Year means, except with respect to the first Commercial Year, each successive 12 calendar month period starting from the 01 January of one year and ending on the 31 December of the same year. The first Commercial Year shall begin on the date of the First Commercial Sale to occur in the Territory and end on the 31 December of that year.

Commercial Year means the twelve (12) month period in each Country beginning with the month following the Launch date and each subsequent twelve (12) month period.

Commercial Year means each period of 12 consecutive months beginning on (a) the first day of the first full month that occurs after the date of the First Commercial Sale of the first Product anywhere in the Territory and (b) each anniversary of the date specified in the foregoing clause (a); provided, that the first Commercial Year of the Term shall also include the period beginning on and including the date of the First Commercial Sale of the first Product anywhere in the Territory and ending on the day immediately prior to the first day of the first full month that occurs after such date.

Examples of Commercial Year in a sentence

• EVOLUS shall use commercially reasonable efforts to accept Purchase Orders issued by DISTRIBUTOR within plus or minus [***] percent ([***]%) of the Forecast Commitment in Commercial Year 1 and [***] percent ([***] %) of the Forecast Commitment thereafter, provided that in the event the DISTRIBUTOR is short shipped, the DISTRIBUTOR shall only pay for the number of units received.

• In addition, unless otherwise provided pursuant to the Patent and Know-How License Agreement, within sixty (60) days of the end of each Commercial Year, NOVACEA shall provide to XXXXXX XXXXX a written report, summarizing the gross sales and Net Sales of each dosage form of the Licensed Product sold by NOVACEA, its Affiliates and permitted sublicensees in all countries of the NOVACEA Territory during such Commercial Year.

• Anesta undertakes to notify ImmuPharma in writing of each Development Milestone event referred to in Clause 4 within fourteen (14) calendar days of its occurrence and of each Commercial Milestone event referred to in Clause 5 within thirty (30) calendar days after the end of the Commercial Year in respect of which it occurs.

• Upon the expiration of sixty (60) months following the end of any Commercial Year, the calculation of Trademark Royalties payable with respect thereto shall be binding and conclusive on XXXXXX XXXXX and NOVACEA, its Affiliates and its permitted sublicensees shall be released from any liability or accountability with respect to Trademark Royalties for such Commercial Year.

• For Net Sales in each Commercial Year above *** percent (***%) of the Net Sales forecasts below for that Commercial Year, *** percent (*** %) of the Net Selling Price shall be added to the Supply Price for the incremental quantity (for the avoidance of doubt, in respect of such incremental sales, the Supply Price is *** percent (***%) of the Net Selling Price).

More Definitions of Commercial Year

Commercial Year means each period of twelve (12) consecutive calendar months during this Agreement beginning on January 1st and ending December 31st, except for the first Commercial Year, which shall commence on the first day of the month after the month of Theravance’s first bona fide sale of Product manufactured by Hospira to a non-Affiliate customer after the Product has received Regulatory Approval for manufacturing at Hospira’s McPherson, Kansas site and ends on December 31st thereafter.

Commercial Year means each twelve (12) months’ period starting on the date of this agreement and ending on its anniversary.

Commercial Year has the meaning set forth in Section 5.2.3.

Commercial Year means each consecutive twelve (12) month period commencing on the date that ISTA receives written FDA approval of the Product.

Commercial Year. Commercial Year means each of the following: (a) the 12-month period beginning on the Commencement Date (the “First Commercial Year”) and (b) each 12-month period beginning on the anniversary of the Commencement Date (the “Second Commercial Year”, the “Third Commercial Year”, etc.).

Commercial Year means a period of twelve (12) consecutive months which, for the first Commercial Year of this Agreement, shall commence on the first day of the month after the month of Kythera’s first bona fide sale of the Product to a non-Affiliate customer after the Product has received a regulatory approval from any Regulatory Authority, and each Commercial Year thereafter shall consist of twelve (12) consecutive months following the end of the preceding Commercial Year.

Commercial Year means each respective period of twelve (12) consecutive months commencing on the first full month following the First Commercial Sale of a Licensed Product by a Selling Entity in any country in the Territory.