Common use of Prior Development Phase Clause in Contracts

Prior Development Phase. After the Technology Transfer Phase Completion, the “Prior Development Phase” shall commence. Unless extended by the mutual written agreement of the Parties prior to its termination, the Prior Development Phase shall terminate on the date that is the [***]. The Parties may extend the Prior Development Phase once for an additional [***] period provided that both Parties agree in writing to the extension prior to the original termination date.