Common use of Discussion of Potential Commercialization Structure Options Clause in Contracts

Discussion of Potential Commercialization Structure Options. During the Demonstration Phase, the Parties will discuss options to work together to commercialize Bio-BDO in the Territory using the Commercial Process at the Commercial Facility and will negotiate in good faith an agreed term sheet that specifies the commercial structure (“Term Sheet”). Among other possibilities for commercial structure, the Parties may form (a) a commercial joint venture to build and operate commercial manufacturing facilities, which joint venture may be structured as […***…] pursuant to a corn processing agreement in substantially the form attached hereto as Schedule 3.4 (the “Corn Processing Agreement”). The Services Agreement (CP) would become effective at such time as Genomatica provides T&L with written notice pursuant to Section 4.1 that Genomatica is electing to initiate the Commercialization Phase; provided, that T&L shall not be required to enter into the Services Agreement (CP) if Genomatica has not undertaken significant commercial activities in connection with the Commercialization Phase within […***…]