Optional Territory definition

Optional Territory means Canada, Israel, Mexico and each of the countries in the EU, Central America and South America.
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Optional Territory means countries of North America (i.e., Canada, the United States and Mexico) and the European Union and Japan to be mutually agreed in writing by the Parties within thirty (30) days of receipt of notice from I-MAB that it wishes to exercize its option right to obtain an exclusive license to the Optional Territory, cf. Clause 2.2 below. For the purposes of this Agreement, the United Kingdom shall be considered a member state of the European Union, even if it exits the European Union during the Term.
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Examples of Optional Territory in a sentence

  • During such twelve (12) month period neither Impax nor any of its Affiliates shall directly or indirectly negotiate with or grant any rights to any of the Products to any third parties in or for the Optional Territory.

  • Clause 2.2 above, in the agreed upon countries in the Optional Territory (as applicable), Develop the Licensed Product in the Field in the Optional Territory (as applicable) at its own cost and expense in accordance with a supplemental development plan to be mutually agreed upon by the Parties upon the completion of Phase IIA in the Territory, which shall be incorporated into and become a part of this Agreement.

  • I-MAB shall secure and keep in force during the term of this Agreement, at its sole cost and expense, a commercial product insurance and clinical trial insurance policy and any other insurance policies as customarily used in the pharmaceutical industry in the Territory and/or Optional Territory, as applicable.

  • I-MAB shall use Reasonable Commercial Efforts to Develop the Licensed Product in the Field in the Territory at its own cost and expense in accordance with the Development Plan and, subject to the exercise of the option right to receive a license in the Optional Territory, cf.

  • In the event I-MAB shall decide not to launch any Licensed Product in a particular country in the Territory and/or Optional Territory (as applicable), either by itself or through an Affiliate, a Recognised Agent, a Sublicense or a Sub-sublicensee, or Sub-contractor, I-MAB will immediately inform Ferring in writing of the reason for its decision and Ferring shall be entitled to unilaterally delete such country from the Territory and/or Optional Territory (as applicable) without a notice period.

  • I-MAB shall have the right, but not the obligation, at its cost to bring any legal action in the Territory and/or Optional Territory (as applicable) related to infringement by Third Parties, that impacts adversely on the enjoyment by I-MAB of the rights licensed to it hereunder.

  • I-MAB shall use Reasonable Commercial Efforts to Develop, obtain and maintain Regulatory Approvals for, the Licensed Product for use in the Field in the Territory and the Optional Territory (as applicable) in furtherance of the Development of the Licensed Product for the Field in the Territory and the Optional Territory (as applicable).

  • Ferring hereby shares with I-MAB all Regulatory Documentation in its control for the Licensed Compound and/or Licensed Product (including any existing Regulatory Approvals) owned by Ferring and held in Ferring’s name in the Territory and Optional Territory (as applicable) as of the Effective Date.

  • Ferring shall have the exclusive responsibility and shall use commercially reasonable efforts to apply for and maintain any such extension, and shall not abandon any such extension in the Territory or the Optional Territory (as applicable) without the prior written consent of I-MAB which shall not be unreasonably withheld.

  • Ferring shall use Reasonable Commercial Efforts to perform activities assigned to it in the Development Plan and the supplemental development plan(s) (as applicable) in furtherance of the Development Plan of the Licensed Product in the Field in the Territory and the Optional Territory (as applicable).

Related to Optional Territory

  • Service Territory means the geographic area within which PG&E as a Utility Distribution Company is authorized and required to provide electric transmission and distribution service.

  • Exclusive Territory means (1) the states of Illinois, Wisconsin, and Indiana; and

  • U.S. Territory means American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico, or the U.S. Virgin Islands.

  • Licensed Territory means worldwide.

  • Sales territory means an area of exclusive sales responsibility for the brand or brands of beer sold by a supplier as designated by an agreement.