Covenant of OncoC4 Sample Clauses

Covenant of OncoC4. At all times prior to the completion of the activities contemplated by the CDP, OncoC4 and its Affiliates, collectively, shall maintain sufficient cash reserves, liquid assets, or other sources of immediately available funds (in each case, with reputable financial institutions selected by OncoC4 in accordance with industry practice and the exercise of its reasonable business judgment), as reasonably necessary for OncoC4 to fund its share of Joint Development Costs during the following [***] months as such Joint Development Costs are anticipated in a then-current, Joint Development Budget approved by the JSC; provided, that (i) OncoC4 shall have at least [***] months following approval of a new Joint Development Budget or material amendment thereto to acquire such reserves, assets or funds and (ii) upon BioNTech’s reasonable request (not more than once per Calendar Year absent OncoC4’s failure to comply with this Section 3.2(e) or make an undisputed payment under this Agreement or the CDP), OncoC4 shall provide BioNTech with reasonable documentary evidence reasonably satisfactory to BioNTech (acting in good faith) of its compliance with this Section 3.2(e). Without limiting the foregoing, upon BioNTech’s reasonable request (not more than once per Calendar Year without cause), OncoC4 shall disclose to BioNTech the financial institution(s) that hold the assets of OncoC4 and its Affiliates that satisfy the conditions of this Section 3.2(e). BioNTech may comment on such financial institutions and OncoC4 will in good faith take into account and consider BioNTech’s reasonable and timely suggestions regarding OncoC4’s choice of financial institution(s). For the avoidance of doubt, nothing in this Section 3.2(e) shall require OncoC4 or any of its Affiliates to maintain segregated accounts or restricted cash in order to satisfy its obligations hereunder. If OncoC4 is ever not in compliance with this covenant, OncoC4 shall promptly notify BioNTech in writing.
Sample 1
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Related to Covenant of OncoC4

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