Threshold Date definition
Examples of Threshold Date in a sentence
Except to the extent set forth in the following sentence, this Agreement shall terminate and be of no further force or effect as of the Third Threshold Date.
For Lead Programs developed from screening Library Compounds prior to the Threshold Date, Novartis shall have the exclusive right (the “Option”) to obtain a worldwide, exclusive license (with right to sublicense) on a Target-by-Target basis, to develop and commercialize any such Lead Program in the Field, under the terms and conditions set forth in the License Agreement.
Following the SCP PIMCO Threshold Date, subject to Manager Approval, each payment of a Member’s Capital Commitment shall be made from time to time within fifteen (15) business days after notice from the Servicer specifying the amount then to be paid, or such later date as may be specified in such notice; provided, that the Members agree to use commercially reasonable efforts to contribute capital in fewer than fifteen (15) business days if practicable.
The parties agree that this Agreement, including all rights granted by Seller to Purchaser hereunder and including the power of attorney granted hereunder, shall automatically terminate on the Threshold Date without the need of any Notice of termination.
Prior to the SCP PIMCO Threshold Date, subject to Manager Approval, the Servicer may utilize the proceeds from any Interim Loan to fund Investments or pay expenses; provided that the aggregate principal amount of all Interim Loans outstanding shall not exceed the Capital Commitment of any Member.