Corregidor’s Minimum Development Performance Obligations Clause Samples

Corregidor’s Minimum Development Performance Obligations. Notwithstanding the Development obligations set forth in Section 4.1, Corregidor will have the following minimum performance obligations [***]: (a) Prior to [***], Corregidor will have [***]; and (b) Prior to [***], Corregidor will either (i) [***], or (ii) [***]. If either of the obligations set forth in Sections 4.21(a) or (b) has not been fulfilled prior to the deadline therefor, and Corregidor cannot reasonably demonstrate that this failure resulted from technical, regulatory, scientific or business causes that had an unforeseen adverse impact, which could not reasonably be mitigated, on the Development or Manufacture of the Licensed Products, then Alkermes shall have the right, which may be exercised in its sole discretion, upon notice to Corregidor delivered at any time following the deadline, to terminate this Agreement for Default. EXECUTION COPY