Common use of Target Selection Clause in Contracts

Target Selection. The Research Committee will select which ACADIA Targets to screen in the Collaboration from among those nominated by ACADIA and accepted by ArQule. ACADIA will only nominate Available Targets for ACADIA. ArQule will decline to accept any ACADIA Targets that are not Available Targets for ArQule. The initial ACADIA Targets selected by the Research Committee are set forth in the initial Research Plan. After the Research Committee selects an ACADIA Target, ACADIA and ArQule agree to notify the Research Committee as soon as possible before taking any actions which could remove the status of that ACADIA Target as an Available Target. In such event, the Research Committee will immediately remove that ACADIA Target from the Collaboration.