Common use of Co-Promotion Option Clause in Contracts

Co-Promotion Option. If, during any twelve-month period ending before the [ ]* the First Commercial Sale of any Licensed Product, Net Sales exceed [ ]*, then Metasyn shall have no right to co-promote Licensed Products in the Territory at any time hereunder. However, if, after the [ ]* the First Commercial Sale of the Licensed Products in the Territory and subject to Metasyn obtaining any necessary licenses or consents, Net Sales have not exceeded [ ]* in any twelve-month period ending prior to such anniversary, then Metasyn shall have the right, but not the obligation, to co-promote the Licensed Products alongside MKG in the *Confidential information omitted and filed with the Commission. Territory, in which case Metasyn will have the right to purchase Licensed Products from MKG at [ ]*, and to resell the Licensed Products under Metasyn's trademark. Such co-promotion may be accomplished by Metasyn only through the use of its own personnel and not with any assistance of any kind from any agent or distributor. In such event, (i) MKG shall, to the extent legally permissible, grant Metasyn a non-exclusive right and license to use any technology, know-how or other intellectual property rights developed by MKG or its Third Party manufacturer, if any, that is necessary or useful in the manufacture of such Licensed Product, (ii) MKG shall provide Metasyn with reasonable assistance as may be requested from time to time by Metasyn [ ]* and (iii) each Party shall retain all profits from its sale of such Licensed Products.