By Durect Clause Samples

By Durect. (i) In the event that Durect is unable to procure [ * * *] Starter Material that is suitable and in sufficient quantities for the Manufacture and supply of Finished [ * * *] hereunder, despite having used commercially reasonable efforts to do so, then Durect shall have the right to terminate its obligation to supply Finished [ * * *] under Section 2.2(a) by providing written notice to King, in which event King’s obligation under Section 2.2(a) to purchase its requirements of Finished [ * * *] shall also terminate. Durect shall notify King of its intent to terminate under this Section 6.2(b)(i) as soon as Durect is aware of such facts that would lead Durect to exercise such right. The foregoing termination of King’s purchase and Durect’s supply obligations with respect to Finished [ * * *] shall be without prejudice to the Parties’ obligations hereunder with respect to Finished [ * * *]; or (ii) In the event that Durect is unable to procure [ * * *] Starter Material that is suitable and in sufficient quantities for the Manufacture and supply of Finished [ * * *] hereunder despite having used commercially reasonable efforts to do so, then Durect shall have the right to terminate its obligation under Section 2.2(a) to supply Finished [ * * *] by providing written notice to King, in which event King’s obligation under Section 2.2(a) to purchase its requirements of Finished [ * * *] shall also terminate. Durect shall notify King of its intent to terminate under this Section 6.2(b)(ii) as soon as Durect is aware of such facts that would lead Durect to exercise such right. The foregoing termination of King’s purchase and Durect’s supply obligations with respect to Finished [ * * *] shall be without prejudice to the Parties’ obligations hereunder with respect to Finished [ * * *]. (iii) In the event that Durect has exercised its rights under both Section 6.2(b)(i) and Section 6.2(b)(ii), this Agreement shall terminate, and other than as provided in Section 6.3(e), Section 6.3(f), and otherwise as expressly provided hereunder, Durect shall have no obligations or liabilities arising from such termination whatsoever.