Common use of Selection of Products Clause in Contracts

Selection of Products. (a) The Lead Products shall be the first Products that the Parties plan to Develop, Finalize, Manufacture and Commercialize pursuant to this Agreement. (b) From time to time before the tenth (10th) anniversary of the First Commercial Sale of the first Product, either Party may present to the JSC another potential Compound Construct as a potential Product that the Parties may consider Developing, Finalizing, Manufacturing and Commercializing. With respect to the consideration of any potential Product, each Party shall present such material information it possesses regarding Development, Final Development, Manufacture and Commercialization opportunities, risks and costs. Each Party shall consider the information presented to the JSC with respect to each potential Product and, when requested by the other Party, shall determine whether such potential Product will be selected as a Product under this Agreement. Unless and until such Party selects such potential Product as a Product, it shall not be considered a Product under this Agreement and neither Party shall have any obligation to the other Party with respect to such potential Product under this Agreement, except to the extent provided in Sections 3.1(c) and 3.2 below.