Project Delays. In the event Sponsor delays, suspends or places a hold on the Study for any reason, Sponsor shall promptly provide Worldwide with written notice of such delay, hold or suspension, and Sponsor and Worldwide will, [***] of such notice, [***] to this Agreement and each Party will complete its respective duties and obligations as described in any resulting Change Order. During the period following Worldwide’s receipt of Sponsor’s notice of delay, hold or suspension, if Sponsor desires Worldwide to continue the assignment of certain Worldwide Study personnel to the Study, [***] to Worldwide hereunder, Sponsor agrees that it shall [***] associated with such continued assignment at [***], such [***] to be agreed upon by the Parties prior to commencement of the delay, as evidenced by a Change Order. Said personnel fees shall be [***] and shall be due and payable by Sponsor within [***] days of Sponsor’s receipt of Worldwide’s invoice. If Sponsor does not wish to retain certain Worldwide Study personnel for the duration of the delay or on hold period, Worldwide shall have the right to reallocate any and all such staff after [***] day period. If the delay or on-hold period continues for [***] either Party may, by provision of written notice, terminate this Agreement without penalty.
Appears in 3 contracts
Sources: Services Agreement (Synaptogenix, Inc.), Services Agreement (Neurotrope, Inc.), Services Agreement (Neurotrope, Inc.)