Candidates. During the Research Term, (a) NVS and the JSC will assess the results provided in each Interim Report; (b) the JSC will review and determine whether each Candidate identified in the Success Criteria Report has achieved the Success Criteria for the Target that such Candidate Modulates; and (c) NVS will determine whether it wishes to Develop any Candidate, regardless of whether such Candidate has achieved the applicable Success Criteria. NVS will have the right to Develop and Commercialize [***] arising from the Target Research Activities. On a Target-by-Target basis, upon the earlier of (i) the JSC’s approval of the first Candidate that meets the applicable Success Criteria for the Target that such Candidate Modulates, or (ii) [***] with respect to such Candidate ((i) or (ii), the “Target Fee Trigger”), NVS will pay the Target Fee to HMI in accordance with Section 11.3 (Target Fee); [***].
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Samples: Collaboration and License Agreement (Homology Medicines, Inc.), Collaboration and License Agreement (Homology Medicines, Inc.), Collaboration and License Agreement (Homology Medicines, Inc.)