Common use of Revisions to Research Plan Upon Exercise of Option Clause in Contracts

Revisions to Research Plan Upon Exercise of Option. Within thirty (30) days after Merck has exercised its Option with respect to a given Research Program, to the extent that the Research Program Term for such Research Program has not yet ended in accordance with this Agreement, the Committee shall review and, if determined by the Committee, amend, the Research Plan for such Research Program for the further research activities to be conducted under such Research Program post Option exercise.

Appears in 2 contracts

Sources: Research Collaboration, Option and Exclusive License Agreement (Ambrx Inc), Research Collaboration, Option and Exclusive License Agreement (Ambrx Inc)