Common use of Gatekeeper Procedures Clause in Contracts

Gatekeeper Procedures. At the Effective Date and from time to time thereafter (including at least once per Calendar Quarter, including in response to Inquiries hereunder), (a) Ablynx will provide the Gatekeeper with a current list of all Blocked Targets (the “Blocked Target List”), and (b) Sanofi will be entitled to, at its discretion but subject to Section 2.5.5, submit Inquiries to the Gatekeeper. Upon receipt of an Inquiry, the Gatekeeper will notify Ablynx of such Inquiry by Sanofi without disclosing the subject Target, after which Ablynx will have [...***...] to provide the Gatekeeper with any updates to the Blocked Target List. The Gatekeeper will inform Sanofi in writing whether the subject Target is a Blocked Target within [...***...] of receipt of the associated Inquiry. In the event that the Gatekeeper notifies Sanofi in response to an Inquiry (or Ablynx notifies Sanofi, in the case of direct contact between the Parties) that a Target is a Blocked Target, Sanofi will not have exhausted any of its Options or Swap Rights as a result of the Inquiry, and if the status of such Blocked Target changes and it is no longer a Blocked Target, Ablynx will cause the Gatekeeper to notify Sanofi of such change as soon as practicable.