Target Substitution Procedures Sample Clauses

The Target Substitution Procedures clause outlines the process by which one party may replace the originally designated target entity or asset in a transaction with another, subject to certain conditions and approvals. Typically, this clause specifies the steps required for substitution, such as providing notice, obtaining consent from the other party, and ensuring the substitute meets predefined criteria. Its core practical function is to provide flexibility in deal execution, allowing parties to adapt to changing circumstances or unforeseen issues with the original target, while maintaining the integrity and intent of the agreement.
Target Substitution Procedures. OncoGenex can substitute and replace a new gene target for an existing Collaboration Gene Target at any time prior to the [***] with a MOE Gapmer modulating such Collaboration Gene Target; provided however, that OncoGenex is only allowed a total of [***] such substitutions under this Agreement. OncoGenex will provide Isis with written notice of its intent to substitute, indicating which Collaboration Gene Target it wishes to substitute out and which new gene target (the “Proposed Substitution Target”) it wishes to substitute in. In determining whether to accept or reject a Proposed Substitution Target, Isis will follow the same procedures for adding a Proposed Collaboration Target set forth in Section 2.3.2 (including assigning an appropriate Target Level). If the Proposed Substitution Target is not rejected under this subsection 2.3.3, the Proposed Substitution Target will become a Collaboration Gene Target and the gene target substituted out will no longer be considered a Collaboration Gene Target. In addition, for each substitution, OncoGenex will pay the substitution fee set forth in Section 4.2. Furthermore, once a Collaboration Gene Target is substituted out, any MOE Gapmers that modulate such former Collaboration Gene Target will be considered a Discontinued Product pursuant to Section 9.1 of this Agreement.
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Target Substitution Procedures. At any time during the Research Term the Parties may mutually agree in writing to substitute and replace a gene target from the Target Pool for an existing Selected Gene Target. In addition, OMI can unilaterally (i.e. without Isis’ agreement) substitute a gene target from the Target Pool for an existing Selected Gene Target at any time during the Research Term; provided however, that OMI is only allowed one such unilateral substitution in any [***] period unless OMI is making a substitution pursuant to an Inquiry Response under Section 3.6.2 below or OMI is substituting to replace a Selected Gene Target for which OMI has Designated a Clinical Candidate (collectively, the “Substitution Conditions”). OMI will provide Isis with written notice of its intent to substitute, indicating which Selected Gene Target it wishes to substitute out and which new gene target from the Target Pool (the “Proposed Substitution Target”) it wishes to substitute in. Provided OMI has satisfied the Substitution Conditions, at such time, the Proposed Substitution Target will become a Selected Gene Target and the gene target substituted out will no longer be considered part of the Target Pool or a Collaboration Gene Target, Isis’ obligations (including but not limited to Section 2.3) and OMI’s licenses under this Agreement with respect to such gene target and any ASOs targeting such gene targets will terminate. In such event, OMI will be able to add a new gene target to the Target Pool in accordance with Section 3.6.3 below.
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Related to Target Substitution Procedures

  • Induction Procedures a) The parties to this Agreement acknowledge that it is in the interests of the industry that all new employees and employers on a building project understand their obligations to this Agreement and are introduced to their jobs in a manner which will help them work safely and efficiently. b) In order to achieve this it is recommended that, in conjunction with the Site Management, Job ▇▇▇▇▇▇▇ and Safety Supervisor/Safety Committee, new employees and new employers be given an explanation of the following: ⮚ The Rights and Obligations of this Agreement including its disputes/grievance resolution procedures; ⮚ The appropriate issue of work clothing and safety equipment as per this Agreement; ⮚ Safety Rules and Procedures including relevant legislation; ⮚ Superannuation entitlements; ⮚ Long Service Leave provisions; ⮚ Redundancy Pay entitlements; ⮚ Site Emergency procedures; ⮚ Award or Enterprise Agreement rates of pay; ⮚ Site-specific matters such as security, etc. procedures; ⮚ Rights, obligations and benefits of union membership. c) The induction presentation and material shall have regard to the language skills of the employee/employer.

  • Notification Procedures To address non-compliance, the receiving Competent Authority would notify the providing Competent Authority pursuant to Article 5 of the IGA. The notification procedures would differ depending upon whether the receiving Competent Authority seeks to address administrative or other minor errors or significant non-compliance.

  • Safety Procedures The Contractor shall: (a) comply with all applicable safety regulations according to Attachment H; (b) take care for the safety of all persons entitled to be on the Site; (c) use reasonable efforts to keep the Site and Works clear of unnecessary obstruction so as to avoid danger to these persons; (d) provide fencing, lighting, guarding and watching of the Works until completion and taking over under clause 10 [Employer's Taking Over]; and (e) provide any Temporary Works (including roadways, footways, guards and fences) which may be necessary, because of the execution of the Works, for the use and protection of the public and of owners and occupiers of adjacent land.

  • Auction Procedures (a) In connection with an Auction, the Borrower will provide notification to the Administrative Agent (for distribution to the Term Loan Lenders of the applicable Facility with respect to which such notice relates) of the Auction (an “Auction Notice”), which shall be substantially in the form of Exhibit L. Each Auction Notice shall contain (i) the total cash value of the bid, in a minimum amount of $5,000,000 with minimum increments of $1,000,000 (the “Auction Amount”), unless otherwise agreed by the Administrative Agent, (ii) the name of the relevant Facility or Facilities (which for the avoidance of doubt must be in respect of Term Loans) to which the Auction relates (the “Applicable Term Loan Facility”), (iii) the discount to par, which may be a single percentage or a range of percentages (the “Discount Range”) of the par principal amount of the Term Loans of each Applicable Term Loan Facility that represents the purchase price or range of purchase prices that could be paid in the Auction with respect to such Applicable Term Loan Facility and (iv) the date by which the Term Loan Lenders of the Applicable Term Loan Facility are required to indicate their election to participate in the Auction (the “Reply Date”), which shall be not less than five Business Days after delivery of the Auction Notice. (b) In connection with any Auction, each Term Loan Lender of the Applicable Term Loan Facility or Applicable Term Loan Facilities may, in its sole discretion, participate in such Auction and may provide the Administrative Agent with a notice of participation (the “Return Bid”) on or before the Reply Date, substantially in the form of Exhibit M, which shall specify (i) a discount to par for Term Loans in the Applicable Term Loan Facility that must be expressed as a price (the “Reply Discount”), which must be within the Discount Range, and (ii) a principal amount of Term Loans in the Applicable Term Loan Facility that such Lender is willing to offer for sale at its Reply Discount which must be in increments of $500,000 (the “Reply Amount”). A Term Loan Lender in the Applicable Term Loan Facility may avoid the minimum increment amount condition solely when submitting a Reply Amount equal to such Term Loan Lender’s entire remaining amount of such Term Loans. Term Loan Lenders may only submit one Return Bid per Auction per Applicable Term Loan Facility but each Return Bid may contain up to three component bids only one of which can result in a Qualifying Bid (as defined below). Each Return Bid submitted to the Administrative Agent shall be irrevocable. In addition to the Return Bid, the participating Lender must execute and deliver, to be held in escrow by the Administrative Agent, an Assignment and Acceptance. The Borrower will not have any obligation to purchase any Term Loans at any price. The processing and recordation fees as set forth in Section 12.6 hereof shall not be applicable to any Auctions (it being understood and agreed that other fees may be applicable in connection with any Auction). (c) Based on the Reply Discounts and Reply Amounts received by the Administrative Agent (who shall reasonably promptly provide the Borrower with a copy of all Reply Discounts), the Administrative Agent, in consultation with the Borrower, will calculate the applicable discount (the “Applicable Discount”) for the Auction with respect to each Applicable Term Loan Facility, which will be the highest Reply Discount that is within the Discount Range and, in the event the Auction Amount cannot be paid in full at the highest Reply Discount, the Applicable Discount shall be the highest Reply Discount reducing in order to the lowest Reply Discount that is within the Discount Range which yields a prepayment in an aggregate principal amount equal to the lower of (i) the Auction Amount and (ii) the sum of all Reply Amounts. The Borrower shall purchase Term Loans (or the respective portions thereof) of the Applicable Term Loan Facility from each relevant Term Loan Lender with a Reply Discount that is equal to or greater than the Applicable Discount (“Qualifying Bids”) first to Qualifying Loans specifying the highest Reply Discount, then filling orders going to the next highest Reply Discount and then pro rata at the clearing level. If a Term Loan Lender in the Applicable Term Loan Facility has submitted a Return Bid containing multiple bids at different Reply Discounts, only the bid with the highest Reply Discount that is equal to or greater than the Applicable Discount will be deemed the Qualifying Bid of such Term Loan Lender. Each participating Term Loan Lender will receive notice of a Qualifying Bid as soon as reasonably practicable but in no case later than five Business Days from the date the Return Bid was due. (d) The Borrower may withdraw an Auction at any time. In connection with any Auction, upon submission by a Term Loan Lender of a Return Bid, such Term Loan Lender (each, a “Qualifying Lender”) will be obligated to sell the entirety or its allocable portion of the Reply Amount, as the case may be, at the Applicable Discount. (e) Notwithstanding the provisions of this Section 5.19, the Administrative Agent in consultation with the Borrower, may amend or modify the procedures, notices, bids and Assignment and Acceptance Agreement in connection with any Auction (including, solely with Borrower’s consent), (i) any term to the extent Borrower’s commercial interests will be materially adversely affected by such amendment or modification and (ii) the economic terms to the extent no Term Loan Lenders have validly tendered Term Loans requested in an offer, but excluding economic terms of an auction after any Term Loan Lenders in the Applicable Term Loan Facility have validly tendered Term Loans requested in an offer, other than to increase the Auction Amount or raise the Discount Range; provided that no such amendments or modifications may be implemented after 24 hours prior to the date and time return bids are due. (f) All parties to the relevant repurchases shall render customary “big-boy” disclaimer letters or any such disclaimers shall be incorporated into the terms of the Assignment and Assumption.

  • Transaction Procedures All series transactions for the Designated Series shall be consummated by payment to, or delivery by, the Custodian(s) from time to time designated by the Fund (the “Custodian”), or such depositories or agents as may be designated by the Custodian in writing, of all cash and/or securities due to or from the Series. The Subadviser shall not have possession or custody of such cash and/or securities or any responsibility or liability with respect to such custody. The Subadviser shall advise the Custodian and confirm in writing to the Fund all investment orders for the Designated Series placed by it with brokers and dealers at the time and in the manner set forth in Schedule A hereto (as amended from time to time). The Fund shall issue to the Custodian such instructions as may be appropriate in connection with the settlement of any transaction initiated by the Subadviser. The Fund shall be responsible for all custodial arrangements and the payment of all custodial charges and fees, and, upon giving proper instructions to the Custodian, the Subadviser shall have no responsibility or liability with respect to custodial arrangements or the act, omissions or other conduct of the Custodian.