Common use of New Project Clause in Contracts

New Project. Refund ------------------ 9. 1. In the event that the FDA does not approve the ANDA within five (5) years from the date of this Agreement, and should THE CLIENT within a six-month period thereafter then elect not to continue with this Agreement, then the License Fees paid to ELAN under paragraph 2.2 of this Article above (**** **********) shall be allocated to a new project, to be agreed by the parties, in a manner to be discussed and agreed in good faith. Failing such agreement, THE CLIENT is allowed to recover these funds through future royalty and manufacturing income received by ELAN from a licensee in the territory.