Disputed Breach. If, during any applicable notice period described in Section 14.4(a), the allegedly breaching Party provides the other Party with (i) written notice disputing in good faith (A) the existence or materiality of a breach specified in a notice provided by such other Party in accordance with Section 14.4(a) or (B) whether a material breach has been cured within such notice period and (ii) invokes and continues to pursue in good faith the dispute resolution procedures set forth in Section 15.1(b), then such other Party shall not have the right to terminate this Agreement for such breach unless and until (1) it has been determined by arbitration in accordance with Section 15.2(a) that such allegedly breaching Party has materially breached this Agreement or that such Party has failed to cure a material breach (as applicable) and (2) such allegedly breaching Party fails to cure such material breach within (I) […***…] days following such determination, in the case of any failure to make payment or (II) […***…] days following such determination, in the case of any other material breach. During the pendency of any such dispute, all of the terms and conditions of this Agreement shall remain in effect.
Appears in 2 contracts
Samples: Option, License and Collaboration Agreement (Gilead Sciences Inc), Option, License and Collaboration Agreement (Galapagos Nv)
Disputed Breach. If, during any applicable notice period described in Section 14.4(a), If the allegedly alleged breaching Party provides the other Party with (i) written notice disputing disputes in good faith (A) the existence or materiality of a breach specified in a notice provided by such the other Party in accordance with Section 14.4(a) or (B) whether a material breach has been cured 13.4(a), and such alleged breaching Party provides the other Party notice of such dispute within such notice period and (ii) invokes and continues to pursue in good faith the dispute resolution procedures set forth in Section 15.1(b)[…***…] day or […***…] day period, as applicable, then such other the non-breaching Party shall not have the right to terminate this Agreement for such breach under Section 13.4(a) unless and until (1) it has been determined by arbitration an arbitrator, in accordance with Section 15.2(a) Article 14, has determined that such allegedly the alleged breaching Party has materially breached this the Agreement or and that such Party has failed to cure a material breach (as applicable) and (2) such allegedly breaching Party fails to cure such material breach within (I) […***…] days following such determination, in arbitrator’s decision (except to the case of any extent such breach involves the failure to make a payment or (II) when due, which breach must be cured within […***…] days following such determination, in the case of any other material breacharbitrator’s decision). During It is understood and agreed that during the pendency of any such dispute, all of the terms and conditions of this Agreement shall remain in effect.
Appears in 2 contracts
Samples: License and Collaboration Agreement (Galapagos Nv), License and Collaboration Agreement (Galapagos Nv)
Disputed Breach. If, during any applicable notice period described in Section 14.4(a), If the allegedly alleged breaching Party provides the other Party with (i) written notice disputing disputes in good faith (A) the existence or materiality of a breach specified in a notice provided by such the other Party in accordance with Section 14.4(a) or (B) whether a material breach has been cured 11.3(a), and such alleged breaching Party provides the other Party written notice of such dispute within such notice period and (ii) invokes and continues to pursue in good faith the dispute resolution procedures set forth in Section 15.1(b)[**] day period, then such other the non-breaching Party shall not have the right to terminate this Agreement under Section 11.3(a) for such so long as the alleged breaching Party continues to dispute in good faith the existence or materiality of the alleged breach unless and until (1) it has been determined by arbitration an arbitrator, in accordance with Section 15.2(a) Article 12, has determined that such allegedly the alleged breaching Party has materially breached this the Agreement or that such Party has and failed to cure a material breach (as applicable) and (2) such allegedly breaching Party fails to cure such material breach within (I) […***…] days following such determination, in the case of any failure to make payment (or (II) […***…] days following if such determination, in breach is not a payment breach and is not reasonably capable of cure within [**] days) from the case date of any other such determination of material breach. During It is understood and agreed that 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 2 contracts
Samples: Development and License Agreement (Concert Pharmaceuticals, Inc.), Development and License Agreement (Concert Pharmaceuticals, Inc.)