Initial Target Sample Clauses

The 'Initial Target' clause defines a specific goal, benchmark, or threshold that must be met at the outset of an agreement or project. Typically, this clause outlines measurable objectives such as sales figures, performance metrics, or project milestones that parties agree to achieve within a set timeframe. By clearly establishing these initial expectations, the clause provides a concrete standard for evaluating early progress and helps prevent disputes by ensuring all parties understand the starting requirements.
Initial Target. (i) The Parties hereby acknowledge and agree that the Initial Target has been designated by the Parties as a Program Target as of the Effective Date for the Primary Field and is listed as such on the Program Target List attached hereto as Schedule 5-A. KHK shall have the right, at its sole discretion and at any time during the Research Collaboration Term, based on the Development Criteria and the results of the Research Collaboration, to determine to proceed with further research and development of Research Compounds with respect to the Initial Target by providing written notice to DICERNA and paying the Initial Target Option Payment (the “Initial Target Option Right”). [***] (ii) If at any time after the date of payment of the Upfront Payments and continuing for the remainder of the Research Collaboration Term for the Initial Target, KHK determines, after consultation with its internal patent counsel, that the DICERNA Background Patent Rights that cover the Initial Target are reasonably likely to fail to provide KHK with the freedom to operate necessary for KHK to develop and commercialize DsRNAi-Based Compounds against such Initial Target, KHK shall provide DICERNA with a written notice of such decision, and KHK shall have the one-time right to replace that Initial Target with one (1) [***] Target listed on the [***] Target List, at its sole discretion. Upon written notice by KHK to DICERNA of KHK’s decision to make such replacement, (A) KRAS shall be deemed to be a Waived Target, and (B) the replacement [***] Target shall be deemed to be the Initial Target for purposes of this Agreement. For purposes of clarity, any Initial Target Option Payment or [***] previously paid by KHK for the Initial Target that is replaced by an [***] Target under this Section 4.1(a)(ii) shall not be payable for such replaced Target; provided, that, all unpaid future milestones shall remain due and payable for such replaced Target.
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Initial Target. Subject to the terms and conditions of this Agreement, commencing on the Effective Date, Selecta hereby grants to Spark an exclusive (even as to Selecta and its Affiliates) right and license in the Field in the Territory, with the right to grant sublicenses subject to Section 2.1(f) (Sublicenses), under the Selecta IP (i) to use, offer for sale, sell, import and otherwise Develop and Commercialize Licensed Products directed to the Initial Target, (ii) to make, have made and otherwise Manufacture Licensed Products directed to the Initial Target excluding the making, having made or Manufacturing of any Licensed Particles within such Licensed Products and (iii) contingent upon exercise of the Technology Transfer Option, make, have made and otherwise Manufacture Licensed Particles solely for inclusion in Licensed Products directed to the Initial Target and solely in accordance with Section 5.3 (Manufacturing Transfer).
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Initial Target. SPRI has designated [*] as the initial Target, and XOMA has accepted such Target into the Collaboration, thereby making it a Collaboration Target and the subject of the first R&D Program. In addition, the Parties acknowledge that [*] additional Proposed Targets have been disclosed to the Escrow Agent and have cleared XOMA’s conflict clearance procedure, but have not been designated by SPRI for inclusion in the Collaboration pursuant to Section 2.2.2 and therefore are not yet Collaboration Targets.
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Related to Initial Target

  • Multi-year Planning Targets Schedule A may reflect an allocation for the first Funding Year of this Agreement as well as planning targets for up to two additional years, consistent with the term of this Agreement. In such an event, the HSP acknowledges that if it is provided with planning targets, these targets: a. are targets only, b. are provided solely for the purposes of planning, c. are subject to confirmation, and d. may be changed at the discretion of the Funder in consultation with the HSP. The HSP will proactively manage the risks associated with multi-year planning and the potential changes to the planning targets; and the Funder agrees that it will communicate any changes to the planning targets as soon as reasonably possible.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving (either itself or through the acts of a SUBLICENSEE) the following development milestones in its diligence activities under this AGREEMENT: (a) (b).

  • Sales Milestones On a Co-Co Product-by-Co-Co Product basis, Celgene shall make the following sales milestone payments to Jounce that are set forth below upon the first achievement by or on behalf of Celgene, its Affiliates or Sublicensees of the Sales Milestone Events set forth below with respect to sales of such Co-Co Product in the ROW Territory. [***] [***] [***] [***]

  • Development Milestone Payments TriSalus shall pay (or cause to be paid) to Dynavax, in accordance with and subject to the terms of this Section 2.3, Section 2.4 and Section 6.4 (each such milestone, a “Development Milestone”, and each payment in respect thereof, a “Development Milestone Payment”): (i) Upon the successful completion by a Milestone Obligor after the Closing of a [**] study with respect to a Product using PEDD, a payment of [**] US Dollars ($[**]), with such Development Milestone Payment being payable only once (for purposes of the foregoing, successful completion means completion of such study in accordance with the plan for such study); (ii) For the first patient Dosed by a Milestone Obligor in each Phase 1 Clinical Trial for a Product for each Indication, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (iii) For the first patient Dosed by a Milestone Obligor in each Phase 2 Clinical Trial for a Product for each Indication, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (iv) For each Phase 2 Clinical Trial for a Product for each Indication conducted by or on behalf of a Milestone Obligor meeting the primary endpoint for such Phase 2 Clinical Trial based on full tables, figures and listings or continued development of such Product for the same Indication as such Phase 2 Clinical Trial, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (v) For each Phase 3 Clinical Trial for a Product for each Indication conducted by or on behalf of a Milestone Obligor meeting the primary endpoint for such Phase 3 Clinical Trial based on full tables, figures and listings or continued development of such Product for the same Indication as such Phase 3 Clinical Trial, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (vi) Upon receipt by a Milestone Obligor of each Regulatory Approval for any Product for any Indication in the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; (vii) Upon receipt by a Milestone Obligor for each Regulatory Approval of any Product for any Indication in any country or region outside the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; (viii) Upon receipt by a Milestone Obligor for each Regulatory Approval for a Product with Orphan Drug Exclusivity for each Indication of a Product in the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments (which, for clarity, shall be payable in addition to the Development Milestone payable under Section 2.3(a)(vi) for receipt of such Regulatory Approval), regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; and (ix) Upon receipt by a Milestone Obligor for each Regulatory Approval for a Product with Orphan Drug Exclusivity for each Indication of a Product in any country or region outside the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments (which, for clarity, shall be payable in addition to the Development Milestone payable under Section 2.3(a)(vii) for receipt of such Regulatory Approval), regardless ​ of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval.