Common use of Purpose and Term Clause in Contracts

Purpose and Term. The parties have agreed to engage in the Research Collaboration on the terms and conditions set forth in this Agreement and as directed by the JSC to identify, research and preclinically Develop one or more Hit Classes of Interest and one or more Progressable Lead Classes against each of the Program Targets as possible Compounds that are suitable for clinical Development and Commercialization by Merck. The Research Collaboration will be undertaken and performed during the period beginning on the Effective Date and ending on the [ *** ] of the Effective Date, unless extended or earlier terminated pursuant to this Agreement (the “Research Term”).

Purpose and Term. The parties have agreed to engage in the Research Collaboration on the terms and conditions set forth in this Agreement and as directed by the JSC to identify, research and preclinically Develop one or more Hit Classes of Interest and one or more Progressable Lead Classes against each of the Program Targets as possible Compounds that are suitable for clinical Development and Commercialization by Merck. The Research Collaboration will be undertaken and performed during the period beginning on the Effective Date and ending on the [ *** ] second (2nd) anniversary of the Effective Date, unless extended or earlier terminated pursuant to this Agreement (the “Research Term”).. [ *** ] TEXT OMITTED AND FILED SEPARATELY WITH THE