Common use of Identification and Labeling of Lead Extracts Clause in Contracts

Identification and Labeling of Lead Extracts. Promptly -------------------------------------------- following the conclusion of Phase I Assays on each of the Initial Phase I Extracts and the Final Phase I Extracts, respectively, Galileo shall provide a detailed report of all Assays conducted to the Committee. Within thirty (30) days from the date of Galileo's report described above, the Committee shall meet to review the results of all of the Assays conducted up to that point and evaluate the overall progress of the Program. The Committee shall in its sole discretion label each Library Extract (or combination thereof) determined by the Committee to possess Requisite Activity as a "Lead Extract", provided, however, that in no event may more than [ ]* Extracts from Phase I be labeled as Lead Extracts without Phytera's written consent. At such time as a Library Extract is labeled a "Lead Extract," Phytera shall no longer provide such Library Extract to any third party without Galileo's prior written consent.