Disputed Breach. If the alleged Breaching Party disputes in good faith the existence or materiality of a breach specified in a notice provided by the other Party in accordance with Section 12.2(a), and such alleged Breaching Party provides the other Party notice of such dispute within [*] of receipt of such notice, then the Non-Breaching Party shall not have the right to terminate this Agreement under Section 12.2(a) unless and a determination has been made in accordance with Section 13.2(b) that the alleged Breaching Party has materially breached the Agreement, and such Party fails to cure such breach within [*] following such determination (except to the extent such breach involves the failure to make a payment when due, which breach must be cured within [*] following such determination). It is understood and agreed that during the pendency of such dispute, all of the terms and conditions of this Agreement shall remain in effect.
Appears in 2 contracts
Samples: License and Collaboration Agreement (Ovid Therapeutics Inc.), License and Collaboration Agreement (Ovid Therapeutics Inc.)
Disputed Breach. If the alleged Breaching breaching Party disputes in good faith the existence or materiality of a breach specified in a notice provided by the other Party in accordance with Section 12.2(a10.3(a), and such alleged Breaching breaching Party provides the other Party notice of such dispute and its intention to seek a judgment by a court pursuant to Article 11 within [*] of receipt of such noticethe cure period, then the Nonnon-Breaching breaching Party shall will not have the right to terminate this Agreement under Section 12.2(a10.3(a) unless and until a determination has been made court, in accordance with Section 13.2(b) Article 11, has determined that the alleged Breaching breaching Party has materially breached the Agreement, Agreement and that such Party fails to cure such breach within [*] following such determination (except to the extent decision of such breach involves the failure to make a payment when due, which breach must be cured within [*] following such determination)court. It is understood and agreed that during the pendency of such dispute, all of the terms and conditions of this Agreement shall will remain in effecteffect and the Parties will continue to perform all of their respective obligations hereunder.
Appears in 2 contracts
Samples: License Agreement (Principia Biopharma Inc.), License Agreement (Principia Biopharma Inc.)
Disputed Breach. If the alleged Breaching breaching Party disputes in good faith the existence or materiality of a breach specified in a notice provided by the other Party in accordance with Section 12.2(a14.3(a), and such alleged Breaching breaching Party provides the other Party notice of such dispute and its intention to seek arbitration pursuant to Article 15 within [*] of receipt of such noticethe cure period, then the Nonnon-Breaching breaching Party shall may not have the right to terminate this Agreement under Section 12.2(a14.3(a) unless and a determination has been made until an arbitrator, in accordance with Section 13.2(bArticle 15, has determined (and without possibility of appeal) that the alleged Breaching breaching Party has materially breached the Agreement, this Agreement and such Party fails to cure such breach within [*] following such determination (except to the extent such breach involves the failure to make a payment when due, which breach must be cured within [**] following such determinationdecision of such arbitrator or court (or within [***]from the dat e of such decision with respect to payments due hereunder). It is understood and agreed that during During the pendency of any such dispute, all of the terms and conditions of this Agreement shall remain in effecteffect and the Parties shall continue to perform all of their respective obligations hereunder.
Appears in 1 contract
Samples: Collaboration and License Agreement (Molecular Partners Ag)