New Target Rejection/Approval Clause Samples

The New Target Rejection/Approval clause establishes the process by which one party can accept or reject proposed new targets, such as business objectives, deliverables, or milestones, within an agreement. Typically, this clause outlines the criteria, timelines, and procedures for submitting new targets for review, as well as the method for communicating approval or rejection. Its core function is to ensure both parties have a clear, structured mechanism for evaluating and agreeing upon changes to key objectives, thereby reducing misunderstandings and maintaining alignment throughout the contractual relationship.
New Target Rejection/Approval. Within [***] days of receipt of the Request Notice, Alnylam will give Isis written notice if any of the criteria set forth below applied to such Proposed Reserved DS-Target at the time of Alnylam’s receipt of the Request Notice. If, at such time, the Proposed Reserved DS-Target is (i) subject to Alnylam’s own Active Program [***], (ii) encumbered by a contractual obligation between Alnylam and a Third Party that would preclude Alnylam from granting a license under Section 6.2 with respect to the Proposed Reserved DS-Target, (iii) the subject of Alnylam’s good faith negotiations to enter into a contractual obligation within the [***] months following receipt of the Request Notice with a Third Party (as supported by a written request from such Third Party) that would preclude Alnylam from granting a license under Section 6.2 with respect to the Proposed Reserved DS-Target, or (iv) an Alnylam Exclusive Target, then the Proposed Reserved DS-Target will be rejected and will not become a Reserved DS-Target. If the Proposed Reserved DS-Target is not rejected under this subsection (e), the Proposed Reserved DS-Target will become an Isis Reserved DS-Target. Alnylam will promptly notify Isis in writing if a rejected Proposed Reserved DS-Target later becomes available to be designated as a Reserved DS-Target.
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New Target Rejection/Approval. Within 15 days of receipt of the Request Notice, Isis will give OncoGenex written notice describing (a) if any of the criteria set forth below in clauses (i) and (ii) applied to such Proposed Collaboration Target at the time of Isis’ receipt of the Request Notice and (b) the nature of any financial or other obligations to a Third Party associated with the Proposed Collaboration Target (“Encumbrances”). If, at such time, the Proposed Collaboration Target is (i) subject to Isis’ own Active Program or (ii) encumbered by a contractual obligation between Isis and a Third Party that would preclude Isis from granting a license under Section 3.1.1. with respect to the Proposed Collaboration Target, then the Proposed Collaboration Target will be rejected and will not become a Collaboration Gene Target. If the Proposed Collaboration Target is not rejected under this subsection 2.3.2, the Proposed Collaboration Target will become a Collaboration Gene Target; provided, however, that if the Proposed Collaboration Gene Target has any Encumbrances, before such Proposed Gene Target becomes a Collaboration Gene Target, OncoGenex must agree in writing to assume all applicable Encumbrances for such Proposed Gene Target. At the time a particular gene target becomes a Collaboration Gene Target, the Parties will mutually agree whether such Collaboration Gene Target is a ▇▇▇▇▇ ▇, ▇▇▇▇▇ ▇ ▇▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇ Gene Target.
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Related to New Target Rejection/Approval

  • Application Approval Our representative will notify you (or one of you, if there are co-applicants) of the Application approval, execute the Lease agreements for signature prior to occupancy, and, once complete, credit the application deposit of all applicants toward the required security deposit.

  • Approval/Non-Approval We will notify you whether your Application has been approved or denied within 14 days after the date we receive a completed Application. Notification may be in person or by mail or telephone unless you have requested that notification be by mail. You must not assume approval until you receive actual notice of approval. The 14-day time period may be changed only by separate written agreement.

  • Authorization, Approval, etc No authorization, approval, or other action by, and no notice to or filing with, any governmental authority, regulatory body or any other Person is required either (a) for the pledge by the Pledgor of any Collateral pursuant to this Pledge Agreement or for the execution, delivery, and performance of this Pledge Agreement by the Pledgor, or (b) for the exercise by the Collateral Agent of the voting or other rights provided for in this Pledge Agreement, or, except with respect to any Pledged Shares, as may be required in connection with a disposition of such Pledged Shares by laws affecting the offering and sale of securities generally, the remedies in respect of the Collateral pursuant to this Pledge Agreement.

  • HSR Approval All applicable waiting periods (and any extensions thereof) under the HSR Act in respect of the Transactions shall have expired or been terminated.

  • Required Regulatory Approvals (a) The obligations of each Party under this Agreement are expressly contingent upon (i) each Party receiving all licenses, permits, permissions, certificates, approvals, authorizations, consents, franchises and releases from any local, state, or federal regulatory agency or other governmental agency or authority (which may include, without limitation and as applicable, the NYISO and the PSC) or any other third party that may be required for such Party in connection with the performance of such Party’s obligations under or in connection with this Agreement (the “Required Approvals”), (ii) each Required Approval being granted without the imposition of any modification or condition of the terms of this Agreement or the subject transactions, unless such modification(s) or condition(s) are agreed to by both Parties in their respective sole discretion, and (iii) all applicable appeal periods with respect to the Required Approvals having expired without any appeal having been made or, if such an appeal has been made, a full, final and non-appealable determination having been made regarding same by a court or other administrative body of competent jurisdiction, which determination disposes of or otherwise resolves such appeal (or appeals) to the satisfaction of both Parties in their respective sole discretion. (b) If any application or request is made in connection with seeking any Required Approval and is denied, or is granted in a form, or subject to conditions, that either Party rejects, in its sole discretion, as unacceptable, this Agreement shall terminate as of the date that a Party notifies the other Party of such denial or rejection, in which event the obligations of the Parties under this Agreement shall cease as of such date and this Agreement shall terminate, subject to NYSEG’s obligation to pay National Grid in accordance with the terms of this Agreement (including, without limitation, Section 10.3 above) for all Reimbursable Costs. All of National Grid’s actual costs in connection with seeking Required Approvals shall be included within the meaning of the term Reimbursable Costs and shall be paid for by NYSEG.