Pricing Modifications. The Price and payment terms as specified in ANNEX C can be reviewed annually and adjusted if the Parties so agree in writing. In case of modifications, ANNEX C shall be amended accordingly. Either Party may initiate pricing discussions [***] based on [***] in the relevant Product markets in the Territory, as described in ANNEX C. In such a case, the Parties shall negotiate in good faith upon a mutual acceptable pricing modification. Such changes shall take effect immediately after the Parties have mutually agreed in writing upon the modifications. If the Parties fail to reach agreement within [***] following [***] after the initiation of such discussions, the Price then in effect may be increased by an amount equal to [***].
Appears in 2 contracts
Sources: Distribution Agreement (Valneva SE), Distribution Agreement (Valneva SE)