Designation of Other Biogen Idec Targets and Sunesis Targets Sample Clauses

Designation of Other Biogen Idec Targets and Sunesis Targets. Subject to the terms and conditions of this Agreement, at any time following the first anniversary of the Effective Date and during the Term of this Agreement, either Party shall have the opportunity to obtain at any time certain exclusive license rights as described in Section 6.3 below with respect to a particular Target that is not then a Collaboration Target, an Other Biogen Idec Target or a Sunesis Target, provided (i) such Target is then Available as determined in accordance with Exhibit 2.5, and (ii) at the time of designation of such Target, the designating Party is either (A) exercising reasonable research or development efforts with respect to Collaboration Compounds that are specifically directed at such Target, either through an internal program or a bona fide collaboration with a Third Party, or (B) actively and in good faith engaged in negotiations with a Third Party regarding a collaboration directing research or development efforts at Collaboration Compounds that are specifically directed at such Target. A Party (the “Requesting Party”) requesting to designate a Target (a “Requested Target”) as either a Sunesis Target or an Other Biogen Idec Target shall provide the other Party (the “Receiving Party”) in writing with a Diligence Summary and proposed Selectivity Parameters for the Requested Target. Upon receiving such materials from a Requesting Party, the Receiving Party shall promptly and in good faith determine whether the Requested Target is Available in accordance with Exhibit 2.5 attached hereto and inform the Requesting Party of the results of such determination. Upon notice to the requesting Party that such Target is Available, such Target shall be designated as an Other Biogen Idec Target or a Sunesis Target, as applicable. Each Party may exercise this right an unlimited number of times, provided that neither Party shall be required to obtain an exclusive license from the other Party.
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Related to Designation of Other Biogen Idec Targets and Sunesis Targets

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  • DEVELOPMENT OR ASSISTANCE IN DEVELOPMENT OF SPECIFICATIONS REQUIREMENTS/ STATEMENTS OF WORK

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