Common use of Application Process – Contracting Phase Clause in Contracts

Application Process – Contracting Phase. 3.4.1 The Contracting Phase is the final phase of the Application Process during which time the Parties will work towards the completion and execution of the MPA with respect to the Project. 3.4.2 Notwithstanding the issuance of a Funding Recommendation Notification for the Project, NGen’s funding of the Project is conditional upon the Applicants successfully completing the Contracting Phase within the applicable timeframe (as reasonably set out by XXxx). The failure of the Applicants to successfully complete the Contracting Phase within the applicable timeframe may result, in NGen’s sole absolute discretion, in the Application being rejected or the Applicant(s) being required to withdraw, pursuant to Subsection 3.1.4 (a). 3.4.3 The successful completion of the Contracting Phase requires, in particular, that the Applicants: (a) Prepare, submit and obtain NGen’s approval for several documents detailing (with more precision than had been requested during the Development Phase) various aspects of the Project’s work, risks, intellectual property management, and budget. Guidance and templates for some of these documents will be provided by NGen; (b) Prepare, submit and obtain NGen’s approval on a collaboration agreement executed by all the Applicants, setting forth the aspects of their collaboration in respect of the Project that are not governed by the MPA. Guidance and a template for the collaboration agreement will be provided by NGen; (c) Execute an MPA with NGen with respect to the Project; and (d) If NGen considers that the risks with the respect to the Applicant(s) and/or Project are too high, structure the Project in such a way, and/or provide whatever guarantees or security interests, that NGen considers reasonable in order to mitigate such risks; the whole in NGen’s sole absolute discretion. 3.4.4 NGen’s approval of any documents during the Contracting Phase may be granted or withheld in NGen’s sole absolute discretion.

Application Process – Contracting Phase. 3.4.1 The Contracting Phase is the final phase of the Application Process during which time the Parties will work towards the completion and execution of the MPA with respect to the Project. 3.4.2 Notwithstanding the issuance of a Funding Recommendation Notification for the Project, NGen’s funding of the Project is conditional upon the Applicants successfully completing the Contracting Phase within the applicable timeframe (as reasonably set out by XXxxNGen). The failure of the Applicants to successfully complete the Contracting Phase within the applicable timeframe may result, in NGen’s sole absolute discretion, in the Application being rejected or the Applicant(s) being required to withdraw, pursuant to Subsection 3.1.4 (a). 3.4.3 The successful completion of the Contracting Phase requires, in particular, that the Applicants: (a) Prepare, submit and obtain NGen’s approval for several documents detailing (with more precision than had been requested during the Development Phase) various aspects of the Project’s work, risks, intellectual property management, and budget. Guidance and templates for some of these documents will be provided by NGen; (b) Prepare, submit and obtain NGen’s approval on a collaboration agreement executed by all the Applicants, setting forth the aspects of their collaboration in respect of the Project that are not governed by the MPA. Guidance and a template for the collaboration agreement will be provided by NGen; (c) Execute an MPA with NGen with respect to the Project; and (d) If NGen considers that the risks with the respect to the Applicant(s) and/or Project are too high, structure the Project in such a way, and/or provide whatever guarantees or security interests, that NGen considers reasonable in order to mitigate such risks; the whole in NGen’s sole absolute discretion. 3.4.4 NGen’s approval of any documents during the Contracting Phase may be granted or withheld in NGen’s sole absolute discretion.