CNS Field Option Sample Clauses

CNS Field Option. In the event that Eisai determines to out-license or otherwise, directly or indirectly, grant or sell rights to the Compound in the CNS Field to a Third Party (including by way of sale of shares, merger, demerger or consolidation), the Parties understand and agree that Eisai shall promptly notify OV of such decision in writing. OV shall have a six (6) month period following receipt of such notice (the “Evaluation Period”) to determine whether to enter into negotiations with Eisai to acquire exclusive rights to Develop, Manufacture and Commercialize the Compound in the CNS Field. During the Evaluation Period, Eisai shall not negotiate or enter into discussions with any Third Party regarding a license or other arrangement regarding rights to the CNS Field and shall provide information reasonably requested by OV to enable OV’s determination whether to expand the Field to include the CNS Field. If, during the Exclusivity Period, OV elects to enter into exclusive negotiations with Eisai for the CNS Field, OV shall deliver written notice to Eisai of such determination (the “Exercise Notice”). Following receipt by Eisai of the Exercise Notice, the Parties will negotiate in good faith on an exclusive basis, for up to ninety (90) days (unless otherwise agreed by the Parties) the terms of expanding the Field to include the CNS Field (the “Exclusivity Period”). In the event that the Parties are unable to enter into a mutually acceptable definitive agreement prior to the expiration of the Exclusivity Period, then Eisai shall have the right to negotiate with Third Parties to out-license or otherwise grant rights to the Compound in the CNS Field.
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Related to CNS Field Option

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  • Competing Products The provisions of Section 21 are set forth on attached Exhibit H and are incorporated in this Section 21 by this reference.

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