Common use of Consideration other than Monetary Clause in Contracts

Consideration other than Monetary. Company, its Affiliates, and Sublicensees shall have no right to sell, license or otherwise distribute Licensed Products for no consideration or in exchange for non-monetary compensation without ▇▇▇▇ ▇▇▇▇▇’s prior written consent. Upon any such approved sale, license or other distribution or disposal other than for monetary consideration or at a discounted price substantially lower than the customary price, such Licensed Product shall be deemed to be sold or used exclusively for money at the average price during the applicable reporting period generally achieved in arms’ length transactions for such Licensed Product in the country in which such sale, license or other distribution or disposal occurred when such Licensed Product is sole or use alone and not with other products (or, in the absence of such sales or licenses, at the fair market value of the Licensed.

Appears in 3 contracts

Sources: Exclusive License Agreement (Promicell, Inc.), Exclusive License Agreement (Promicell, Inc.), Exclusive License Agreement (Promicell, Inc.)