Effect of Termination of the Development Program Clause Samples

Effect of Termination of the Development Program. In the event that the Development Phase is terminated with respect to any compound pursuant to Section 13.1.2, then such compound may not be designated as a Second Generation Compound or a Replacement Compound by the Joint Steering Committee. In such event, (a) all rights with respect to the use, manufacture, distribution for sale and sale of such compound shall revert to the Party who was responsible for adding such compound to the Program (the "Originating Party"), except that, to the extent such compound has been jointly acquired through license, purchase or otherwise, both Parties will have the right to use, manufacture, distribute for sale and sell such compound on a non-exclusive basis, (b) to the extent legally permissible, all additional action reasonably necessary shall be taken by the Parties to assign all right, title and interest in and transfer possession and control of the regulatory filings and regulatory approvals relating to such compound to such Party and (c) the Originating Party shall be free to develop or grant licenses to Third Parties with respect to such compound. In the event that the Originating Party enters into an agreement with a Third Party pursuant to clause (c) hereof and such Third Party will use data generated during the Program, then the Originating Party shall provide in such agreement that such Third Party shall reimburse the non-Originating Party for the perceived value of such data, such value to be negotiated in good faith by MKG and Metasyn taking into account the financial contributions of both Parties to the generation of such data.
View SourceView Similar (3)

Related to Effect of Termination of the Development Program

  • Effect of Termination Upon any expiration of the Term or termination of this Agreement, the obligations and rights of the parties hereto shall cease, provided that such expiration or termination of this Agreement shall not relieve the parties of any obligation or breach of this Agreement accruing prior to such expiration or termination, including, without limitation, all accrued payment obligations arising under Article 6. In addition, Article 5, Article 7, Section 2.12, Section 4.5, and this Section 4.6 shall survive the expiration or termination of this Agreement. For the avoidance of doubt, the rights of Registry Operator to operate the registry for the TLD shall immediately cease upon any expiration of the Term or termination of this Agreement.

  • Effect of Termination of Agreement Upon the Termination Date or the Expiration Date, as applicable, any amounts then owing by a Party to the other Party shall become immediately due and payable and the then future obligations of Customer and Provider under this Agreement shall be terminated (other than the indemnity obligations set forth in Section 13). Such termination shall not relieve either Party from obligations accrued prior to the effective date of termination or expiration.

  • License Term and Termination Unless otherwise specified, any license granted is perpetual, provided however that if Customer fails to comply with the terms of this Agreement, HP may terminate the license upon written notice. Immediately upon termination, or in the case of a limited-term license, upon expiration, Customer will either destroy all copies of the software or return them to HP, except that Customer may retain one copy for archival purposes only.

  • 6Effect of Termination Upon any expiration of the Term or termination of this Agreement, the obligations and rights of the parties hereto shall cease, provided that such expiration or termination of this Agreement shall not relieve the parties of any obligation or breach of this Agreement accruing prior to such expiration or termination, including, without limitation, all accrued payment obligations arising under Article 6. In addition, Article 5, Article 7, Section 2.12, Section 4.5, and this Section 4.6 shall survive the expiration or termination of this Agreement. For the avoidance of doubt, the rights of Registry Operator to operate the registry for the TLD shall immediately cease upon any expiration of the Term or termination of this Agreement.

  • Agreement Term and Termination This agreement will remain in effect until the expiration or termination of Customer’s Subscription, whichever is earliest. Customer may terminate this agreement at any time by contacting its Reseller. The expiration or termination of this agreement will only terminate Customer’s right to place new orders for additional Products under this agreement.