Common use of Allocation of Sponsorship Clause in Contracts

Allocation of Sponsorship. Each Joint Global Study that is mutually agreed upon and incorporated into the Joint Global Development Plan will have the following Sponsor designations: (i) ArriVent will be the named Sponsor in the Licensed Territory (as defined in the License Agreement), (ii) Allist will be named Sponsor for PRC (as defined in the License Agreement), (iii) determined by the Collaboration Committee (“CC”) on a clinical trial-by-clinical trial basis, the Party that will be the Sponsor for each of the following territories, Hong Kong, Macau, and Taiwan participating in such Joint Global Study (such Party, the “Sponsor Party” and Sponsor Party’s “Sponsored Territory”). The Parties may amend the Joint Global Development Plan by adding, removing, or modifying each Joint Global Study only by approval of the CC. The allocation of sponsorship to ArriVent in Hong Kong, Macau, and Taiwan does not affect Allist’s exclusive right to Exploit Allist IP in the Retained Territory according to Section 2.2 of the License Agreement. For greater clarity, shall ArriVent be named as a Sponsor of a Joint Global Study in Hong Kong, Macau, and Taiwan, it shall be considered an agent in fact for and on behalf of Allist and shall not Exploit or attempt to Exploit the Allist IP in any way unless otherwise authorized by Allist. Allist shall always have the right to apply for Regulatory Approvals in Hong Kong, Macau, and Taiwan in its own name.