Cortex Compounds Sample Clauses

Cortex Compounds. At the commencement of the Research Phase, ---------------- Cortex will promptly provide to the Scientific Committee details of the chemical structure and properties for all Ampakines for which Cortex then has the right to grant the licenses herein to Servier (the "Cortex Compounds"). The Scientific Committee shall review the Cortex Compounds within [*] days of commencement of the Research Phase in order to retain certain of them for further evaluation as a Lead Compound. During the term of the Research Phase, Cortex may evaluate such additional compounds as to which it has the right to grant the licenses herein to Servier to determine if such compounds would be useful in the Field. If Cortex determines that such compounds may be more useful in the Field than the previously selected Cortex Compounds, it shall so inform the Scientific Committee, and Servier. The Scientific Committee may, at its discretion, substitute one or several of such new compounds for one or several of the * CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH COMMISSION

Cortex Compounds. At the commencement of the Research Phase, ---------------- Cortex will promptly provide to the Research Management Committee details of the chemical structure and properties for CX516 (to the extent not already disclosed under the Option Agreement), and no less than [*] additional Ampakines(R) for which Cortex then has the right to grant the licenses herein to Shire and which Cortex believes will be useful in the Field, selected in accordance with the criteria determined pursuant to Section 3.4 of the Option Agreement, (the "Cortex Compounds"). During the term of the Research Phase, Cortex shall evaluate such additional compounds as to which it has the right to grant the licenses herein to Shire to determine if such compounds would be useful in the Field. If Cortex determines that such compounds may be more useful in the Field than the previously selected Cortex Compounds, it shall so inform the Research Management Committee, and Shire. Shire may, at its discretion, substitute one of such new compounds for one of the [*] existing Cortex Compounds, in which case such compound shall become a Cortex Compound and such replaced compound shall become available to Cortex for development or commercialization by it or a Third Party. Cortex will keep these Cortex Compounds available to Shire for selection as a Lead Compound for a period of three (3) months from the commencement of the Research Phase, and shall not, during such period, grant to any Third Party rights to develop and commercialize such compounds. Shire may select, by notice in writing to Cortex, up to [*] such Cortex Compounds as Lead Compounds. At the end of the three (3) month period, any Cortex Compound not selected as a Lead Compound shall become available to Cortex for development and commercialization by it or a Third Party. * CONFIDENTIAL PROVISIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION