Common use of Active Compounds Clause in Contracts

Active Compounds. Any Library Compound identified as meeting the ---------------------- definition of an Active Compound through (i) screening of one or more Libraries by Pharmacopeia and/or Schering in the conduct of the Collaboration, or (ii) screening of one or more Libraries by Schering after the term of the Collaboration, shall be an Active Compound. It is understood that no grant of any licenses by Pharmacopeia to Schering, its Affiliates or Sublicensees under Section 4.1 with respect to any Library Compound shall become effective unless and until Pharmacopeia has received notice that such Library Compound is an Active Compound. Pharmacopeia shall be deemed to have received such notice effective upon receipt of a request by Schering to decode a Library Compound. In the event that Schering or its Affiliates or Sublicensees identifies, without decoding by Pharmacopeia pursuant to Section 2.10, a particular Library Compound with activity against a Target, Schering shall give Pharmacopeia notice identifying such Library Compound as an Active Compound, which notice shall be effective upon receipt by Pharmacopeia. Notwithstanding the foregoing, any Active Compound that is subject to a license by Pharmacopeia to a Third Party (as set forth in Section 4.5 or 4.9.5) granted prior to the time the Library Compound is decoded as set forth in Section 2.10 above or, with respect to a Library Compound which is not decoded, the time that Pharmacopeia receives actual notice from Schering as set forth in this Section 2.12, shall not be deemed to be licensed to Schering under Section 4.1.

Active Compounds. Any Library Compound identified as meeting the ---------------------- definition of an Active Compound through (i) screening of one or more Libraries by Pharmacopeia and/or Schering SPL in the conduct of the Collaboration, or (ii) screening of one or more Libraries by Schering SPL after the term of the Collaboration, shall be an Active Compound. It is understood that no grant of any licenses by Pharmacopeia to ScheringSPL, its Affiliates or Sublicensees under Section 4.1 with respect to any Library Compound shall become effective unless and until Pharmacopeia has received notice that such Library Compound is an Active Compound. Pharmacopeia shall be deemed to have received such notice effective upon receipt of a request by Schering SPL to decode a Library Compound. In the event that Schering SPL or its Affiliates or Sublicensees identifies, without decoding by Pharmacopeia pursuant to Section 2.10, a particular Library Compound with activity against a Target, Schering SPL shall give Pharmacopeia notice identifying such Library Compound as an Active Compound, which notice shall be effective upon receipt by Pharmacopeia. Notwithstanding the foregoing, any Active Compound that is subject to a license by Pharmacopeia to a Third Party (as set forth in Section 4.5 or 4.9.5) granted prior to the time the Library Compound is decoded as set forth in Section 2.10 above or, with respect to a Library Compound which is not decoded, the time that Pharmacopeia receives actual notice from Schering SPL as set forth in this Section 2.12, shall not be deemed to be licensed to Schering SPL under Section 4.1.