Common use of Conditional Release Clause in Contracts

Conditional Release. Notwithstanding Clauses 5 and 7, Amarin shall: (a) be irrevocably and unconditionally released from any further liability in respect of the Outstanding Amounts, and (b) be deemed to have exercised the Option as defined in the Zelapar Amendment (“Zelapar Option”) – if and only if: 8.1. Elan receives prior to 31 December 2003 of a cumulative total of US$30,000,000 (thirty million dollars) from Amarin in immediately available funds, whether in one or a number of instalments and whether pursuant to Clause 7 or otherwise expressed to be in discharge of the Outstanding Amounts; 8.2. Amarin discharges in full of all amounts owed to Elan Corp and/or any of its Affiliates, other than any Outstanding Amounts; 8.3. Amarin is not in breach of any Elan Agreement;