Common use of DORMANT PRODUCTS Clause in Contracts

DORMANT PRODUCTS. If the Parties do not elect to proceed with the research, development or commercialization of a particular Collaboration Product with respect to a Collaboration Target, and the Parties have not licensed rights to such Collaboration Product to a Third Party pursuant, to Section 5.2 that would be inconsistent therewith, (each, a "DORMANT PRODUCT") either Party shall have the right at any time, subject to Section 3.3, to bring such Collaboration Product to the Steering Committee to discuss whether to initiate or reinitiate the research, development or commercialization of such Dormant Product. The initiating Party shall specify the reasons for proposing to initiate or reinitiate, such research, development or commercialization. If, within thirty (30) days after the receipt of such notice, the other Party fails to notify the interested Party in writing that it wishes to participate in the research, development or commercialization of such Dormant Product, then the interested Party shall have the right to pursue research, development or commercialization of such Dormant Product as a Unilateral Product pursuant to Section 5.1, provided that no Collaboration Product with respect to the same Collaboration Target as such Dormant Product is being Exploited under this Agreement or by the other Party under a Unilateral Development and Commercialization Agreement.

DORMANT PRODUCTS. If the Parties do not elect to proceed with the research, development or commercialization of a particular Collaboration Product with respect to a Collaboration Target, and the Parties have not licensed rights to such Collaboration Product to a Third Party pursuant, pursuant to Section 5.2 that would be inconsistent therewith, (each, a "DORMANT PRODUCTDormant Product") either Party shall have the right at any time, subject to Section 3.3, to bring such Collaboration Product to the Steering Committee to discuss whether to initiate or reinitiate the research, development or commercialization of such Dormant Product. The initiating Party shall specify the reasons for proposing to initiate or reinitiate, reinitiate such research, development or commercialization. If, within thirty [*] (30[*]) days [*] after the receipt of such notice, the other Party fails to notify the interested Party in writing that it wishes to participate in the research, development or commercialization of such Dormant Product, then the interested Party shall have the right to pursue research, development or commercialization of such Dormant Product as a Unilateral Product pursuant to Section 5.1, provided that no Collaboration Product with respect to the same Collaboration Target as such Dormant Product is being Exploited under this Agreement or by the other Party under a Unilateral Development and Commercialization Agreementhereunder.

DORMANT PRODUCTS. If the Parties do not elect to proceed with the research, development or and commercialization of a particular Collaboration Product with respect to a Collaboration TargetProduct, and the Parties have not licensed rights to such Collaboration Product to a Third Party pursuant, pursuant to Section 5.2 that would be inconsistent therewith, (each, each such Collaboration Product may also be referred to as a "DORMANT PRODUCTDormant Product") either Party shall have the right at any time, subject to Section 3.3, to bring such Collaboration Dormant Product to the Steering Committee to discuss whether to initiate or reinitiate the research, development or commercialization of such Dormant Product. The initiating Party shall specify the reasons for proposing to initiate or reinitiate, reinitiate such research, development or commercialization. If, within thirty (30) days after the receipt of such notice, the other Party fails to notify the interested Party in writing that it wishes to participate in the research, development or commercialization of such Dormant Product, then the interested Party shall have the right to pursue research, development or commercialization of such Dormant Product as under a Unilateral Product Development and Commercialization Agreement pursuant to Section 5.1, provided that no Collaboration Product with respect to the same Collaboration Target or Unilateral Product as such Dormant Product is being Exploited under this Agreement or by the other Party under a Unilateral Development and Commercialization Agreement.