Divestment Process Sample Clauses

The Divestment Process clause outlines the procedures and requirements for a party to sell, transfer, or otherwise dispose of its interest in an asset or entity. Typically, this clause details the steps that must be followed, such as providing notice to other parties, obtaining necessary approvals, and adhering to any pre-emptive rights or restrictions on transfer. By establishing a clear framework for divestment, the clause helps prevent disputes, ensures transparency, and protects the interests of all parties involved in the transaction.
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Divestment Process. Subject to (i) earlier termination of this Agreement by ADCT or Genmab pursuant to Section 3.3, Section 8.2 or Article 15, (ii) election by ADCT of the Grace Period pursuant to Section 9.2, or (iii) election of the right of first opportunity by Genmab pursuant to Section 9.4, a process shall be initiated to facilitate the divestment by license to rights to the ADC to a Third Party (“Divestment Process”). Subject to the foregoing, such Divestment Process shall be initiated as soon as possible after database lock for the Qualifying Phase I/II Clinical Trial (“Phase I/II Clinical Trial Completion”) and no later than [**] month after availability of results. Both Parties shall use Commercially Reasonable Efforts to cause the Divestment Process to be completed, as evidenced by an executed agreement with a Third Party, no later than [**] following engagement of the Third Party advisor pursuant to Section 9.6.2.
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Divestment Process. The Divestment Process shall be performed by the Parties as follows: 9.6.1 [**]. 9.6.2 [**]. 9.6.3 [**]. 9.6.4 [**]. 9.6.5 [**]. 9.6.6 [**]. 9.6.7 [**]. 9.6.8 [**]. 9.6.9 [**]. Certain confidential information contained in this document, marked by [**], has been omitted because ADC Therapeutics SA (ADCT) has determined that the information (i) is not material and (ii) would likely cause competitive harm to ADC Therapeutics SA (ADCT) if publicly disclosed.
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Divestment Process. Subject to (i) earlier termination of this Agreement by ADCT or Genmab pursuant to Section 3.3, Section 8.2 or Article 15, (ii) election by ADCT of the Grace Period pursuant to Section 9.2, or (iii) election of the right of first opportunity by Genmab pursuant to Section 9.4, a process shall be initiated to facilitate the divestment by license to of rights to the ADC to a Third Party (“Divestment Process”). Subject to the foregoing, such the Divestment Process shall be initiated as soon as possible after database lock sixty (60) days from 2 April 2020, the date on which database lock for the Qualifying Phase I/II Clinical Trial occurred (such database lock date to be defined as “Phase I/II Clinical Trial Completion”) and no later than one (1) month Sixty-Five (65) days from 2 April 2020 after availability of results. Both Parties shall use Commercially Reasonable Efforts to cause the Divestment Process to be completed, as evidenced by an executed agreement with a Third Party, no later than Nine (9) months following engagement of the Third Party advisor pursuant to Section 9.6.2.
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