Commercialization Decision Point Clause Samples

Commercialization Decision Point. At the conclusion of the Optimization Period for each Initial Product that entered the Optimization Period, JJC shall determine in its sole discretion whether JJC desires to continue participating in the commercialization of such Initial Product. In the event that JJC decides in its sole discretion to continue, it shall notify Palomar of such decision within [*] following each Initial Product’s Optimization Period conclusion ( [*] , the “Commercialization Decision Date” for such Initial Product), indicating the Initial Product. For the first Initial Product in each Field for which JJC elects to participate in the commercialization, JJC shall pay to Palomar a Commercialization Payment, as defined in ARTICLE VI.A.4. With respect to each Initial Product, if JJC fails to notify Palomar in writing by the applicable Commercialization Decision Date that JJC elects to continue to participate in the commercialization of such Initial Product, or if JJC notifies Palomar before the Commercialization Decision Date that JJC does not want to so participate, then the consequences set forth in ARTICLE X.G shall apply. JOINT DEVELOPMENT AND LICENSE AGREEMENT — EXECUTION VERSION