Common use of Early Termination of Screening Programs Clause in Contracts

Early Termination of Screening Programs. In the event that Pharmacopeia fails to identify any Hits meeting the applicable Activity Criteria from any of the Screening Programs conducted during * then SPL shall have the right to terminate all further obligations with regard to Screening Programs in *This right shall be exercisable by SPL, in its sole discretion, by providing written notice to that effect to Pharmacopeia within *In the event that the Screening Programs are terminated pursuant to this Section 2.2.4, then Pharmacopeia shall not conduct any further Screening Programs under this Agreement during the remaining term of the Collaboration. In addition, notwithstanding anything herein to the contrary: (i) the Collaboration shall be limited to a total *being a wind down year in which SPL shall only be obligated to fund *chemists, as provided in Section 2.5.2; and (ii) the number of FTEs to be funded during * consisting of*chemistry FTEs and*biology FTEs, to conduct the Optimization Programs *In the event that following such early termination of the Screening Programs by SPL, or during any other wind down period under Section 2.2.2, Pharmacopeia undertakes any new Optimization Programs based upon Lead Compounds which are Schering Compounds (“Wind Down Programs”), then notwithstanding anything herein to the contrary, Pharmacopeia shall be entitled to receive milestone payments with respect to any new Agreement Compounds resulting from such Wind Down Programs under Section 5.4.1(a), but shall not be entitled to receive any royalty payments under Section 5.5 on sales of any Agreement Products containing an Agreement Compound resulting from such Wind Down Programs or with respect to any pharmaceutical products containing a Schering Compound having primary activity against the Target which was the subject of the Wind Down Program.

Early Termination of Screening Programs. In the event that Pharmacopeia fails to identify any Hits meeting the applicable Activity Criteria from any of the Screening Programs conducted during * then SPL Schering shall have the right to terminate all further obligations with regard to Screening Programs in *. This right shall be exercisable by SPLSchering, in its sole discretion, by providing written notice to that effect to Pharmacopeia within ** In the event that the Screening Programs are terminated pursuant to this Section 2.2.4, then Pharmacopeia shall not conduct any further Screening Programs under this Agreement during the remaining term of the Collaboration. In addition, notwithstanding anything herein to the contrary: (i) the Collaboration shall be limited to a total *of three (3) years with the third year being a wind down year in which SPL Schering shall only be obligated to fund ** chemists, as provided in Section 2.5.2; and (ii) the number of FTEs to be funded during *, consisting of * consisting of*chemistry chemistry FTEs and*biology and * biology FTEs, to conduct the Optimization Programs ** In the event that following such early termination of the Screening Programs by SPLSchering, or during any other wind down period under Section 2.2.2, Pharmacopeia undertakes any new Optimization Programs based upon Lead Compounds which are Schering Compounds (“Wind Down Programs”), then notwithstanding anything herein to the contrary, Pharmacopeia shall be entitled to receive milestone payments with respect to any new Agreement Compounds resulting from such Wind Down Programs under Section 5.4.1(a), but shall not be entitled to receive any royalty payments under Section 5.5 on sales of any Agreement Products containing an Agreement Compound resulting from such Wind Down Programs or with respect to any pharmaceutical products containing a Schering Compound having primary activity against the Target which was the subject of the Wind Down Program.