BioNTech Opt-Out Right Clause Samples

BioNTech Opt-Out Right. 8.5.1 Exercise of Opt-Out by BioNTech. During the BioNTech Opt-Out Period, by written notice to Genentech, BioNTech shall have the right to opt-out of its obligation to pay fifty percent (50%) of all future Shared Development Costs (“Opt-Out”) incurred after the Opt-Out commencement date set forth in the table below, or such later date in the table below as may be specified in BioNTech’s notice (“Opt-Out Commencement Date”). In no event shall BioNTech shall have the right to Opt-Out if a notice of termination of this Agreement has been delivered by either Party. For clarity, BioNTech shall continue to co-fund the GDP during the period between the exercise of its Opt-Out and the Opt-Out Commencement Date.