Common use of Initial Screening Activities Clause in Contracts

Initial Screening Activities. During the Initial Screening Phase, ERS and Stepan shall collaborate to evaluate and assess the development and commercialization of Products, Developed ERS Products and Derivatives within the Fields. In connection with such collaboration, the Parties will seek to determine whether any Products, Developed ERS Products, or Derivatives are technically and commercially viable in such Fields. If Stepan believes that additional time is necessary to conduct screening activities, Stepan may propose to ERS that the Initial Screening Phase be extended for up to an additional three (3) months, but any extension shall be subject to the express written consent of ERS, which consent shall be granted or withheld in ERS’s sole discretion. [***] Indicates that text has been omitted which is the subject of a confidential treatment request. The text has been separately filed with the Securities and Exchange Commission.