Common use of Target Identification Clause in Contracts

Target Identification. Notwithstanding anything to the contrary herein, prior to SomaLogic or any sublicensee of SomaLogic performing or engaging in any activities with respect to a Target under the New Archemix License (“Target Activities”), SomaLogic shall provide Archemix with a written notice (each, a “Target Notice”) identifying the Target(s) that would be the subject of any such activities. Within [***] days of receipt of a Target Notice, Archemix shall provide SomaLogic with a written response (each, a “Target Response”) identifying the Targets identified in such Target Notice for which SomaLogic and its sublicensees have the right to perform Target Activities under the New Archemix License under this Agreement. For purpose of clarity, (i) neither SomaLogic nor its affiliates or sublicensees shall have the right to perform Target Activities for any Target not identified in a Target Response, (ii) Archemix shall only have the right to reject a Target proposed by SomaLogic in a Target Notice if Archemix is prohibited by an executed agreement in effect as of the Restatement Effective Date from licensing Aptamers against such proposed Target and (iii) Archemix will provide prompt written notice to SomaLogic if the restrictions on any Target that is rejected by Archemix pursuant to the foregoing clause (ii) no longer apply, in which case such Target shall be deemed to be included in the rights granted to SomaLogic and, to the extent SomaLogic has excluded such Target from the New SomaLogic License under Section 2.17, the rights granted to Archemix hereunder without further action of the Parties.