Second Target and Third Target Designation Clause Samples

Second Target and Third Target Designation. Prior to the expiration of MedImmune’s option with respect to a Second Target or Third Target, as the case may be, as described in Section 2.1(i), MedImmune shall designate to BioWa in writing its desired second Target and/or third Target, as the case may be (each a “Selection Notice”). Within [***] ([***]) [***] after the date of the applicable Selection Notice, BioWa agrees to confirm in writing to MedImmune whether such Target is available for license to MedImmune on the terms and conditions set forth in this Agreement. Such Target shall be available to MedImmune unless prior to the Selection Notice BioWa has granted an exclusive license thereto, or reserved such Target for itself, its Affiliates, or other parties. If such Target is available, then such Target shall become the Second Target and/or Third Target, as the case may be, for the purposes of this Agreement. If such second Target and/or third Target of a Selection Notice, as the case may be, is not available, BioWa shall so state in writing, and then MedImmune may repeat the procedure set forth in this Section 5.1 as necessary until an available Second Target and/or Third Target, as the case may be, has been selected. BioWa shall provide written notice to MedImmune if BioWa is notified in writing that an unavailable Target becomes available prior to the expiration of Med Immune’s option under this Agreement.
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Related to Second Target and Third Target Designation

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  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving (either itself or through the acts of a SUBLICENSEE) the following development milestones in its diligence activities under this AGREEMENT: (a) (b).

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  • Development Schedule The Project shall substantially comply with the specific timetables and triggers for action set forth in Article 5 of this Agreement. The parties acknowledge that, as provided in G.S. 160A-400.25(b), the failure to meet a commencement or completion date shall not, in and of itself, constitute a material breach of this Agreement pursuant to G.S. 160A-400.27 but must be judged based upon the totality of the circumstances.