Development Commencement Date definition
Examples of Development Commencement Date in a sentence
For a period of [ * ] after the Development Commencement Date, the Non-Initiating Party shall have the right, but not the obligation, to join with the Initiating Party in the performance of a Joint Development Program, by providing the Initiating Party with a notice of participation (a “Participation Notice”).
During the period commencing on the Development Commencement Date and ending upon the receipt of the Regulatory Approval for a Product each Party (or Affiliate or sublicensee) shall make periodic progress reports to the other Party with a frequency of not less than each [ * ] (the “Progress Reports”) whether or not the Joint Development Program has been initiated.
In the event that the Non-Initiating Party does not notify the Initiating Party of its decision to join in for the performance of the Joint Development Program within [ * ] from the Development Commencement Date, no Joint Development Program shall be performed.
The first Development Year begins 6 months from the Effective Date (the “Development Commencement Date”) and ends on the first day of the month following 12 full calendar months following the Development Commencement Date.
Then, each subsequent Development Year begins on each anniversary of the first day of Development Year 2 (i.e., if the Development Commencement Date is April 15, 2007, then Development Year 2 begins on May 1, 2008).
If Interplay has failed to Commercially Launch the FALLOUT MMOG by the expiration of such extended period, Interplay shall immediately lose and permanently forfeit its license rights under this Agreement and the license rights automatically shall end, be void and otherwise terminate on the anniversary date of the fifth year after the MMOG Development Commencement Date and this Agreement shall no longer be in effect.
The Lessor must commence construction of the Development before the Development Commencement Date.
After receipt of such notice (if applicable), Licensor shall submit an invoice to Novartis substantially in the form of Schedule I with respect to the corresponding Milestone Payment, provided that no such invoice shall be submitted prior to the Novartis Development Commencement Date and Novartis shall not be obligated to pay any Milestone unless and until Novartis exercises its Development Rights hereunder.
Novartis shall provide CTI with written notice of the achievement of each Milestone which is achieved after the Novartis Development Commencement Date, within thirty (30) days after such achievement.
Bethesda agrees to negotiate in good faith whether or not to grant any further extension beyond five years after the MMOG Development Commencement Date.