Common use of Exclusivity Term Clause in Contracts

Exclusivity Term. Novartis' screening right under Section 5.1 shall be exclusive ('exclusive', as used in this Section 5.2 and subject to the provisions of Section 5.5, shall mean 'to the exclusion also of Rigel') during the first two (2) years ("Exclusivity Term") after the Notice Date. Subject to Section 5.3, Novartis may, after the first two years, extend the Exclusivity Term with respect to a Novel Validated Target for up to five (5) additional one (1) year periods upon payment to Rigel of the appropriate Extension Fee provided in Section 7.5 on or before (i) the day which is thirty (30) days prior to the end of such Exclusivity Term or (ii) if Novartis has informed Rigel in writing on or before a date with is sixty (60) days prior to the end of such Exclusivity Term, thirty (30) days after receipt of a corresponding invoice from Rigel, whichever is the later. Upon expiration of the Exclusivity Term, Novartis' right to conduct Compound Screening with a Novel Validated Target, subject to the payments required by Section 7.2 and 7.4, shall become nonexclusive

Exclusivity Term. Novartis' screening right under Section 5.1 shall be exclusive ('exclusive', as used in this Section 5.2 and subject to the provisions of Section 5.5, shall mean 'to the exclusion also of Rigel') during the first two (2) years ("Exclusivity Term") after the Notice Date. Subject to Section 5.3, Novartis may, after the first two years, extend the Exclusivity Term with respect to a Novel Validated Target for up to five (5) additional one (1) year periods upon payment to Rigel of the appropriate Extension Fee provided in Section 7.5 on or before (i) the day which is thirty (30) days prior to the end of such Exclusivity Term or (ii) if Novartis has informed Rigel in writing on or before a date with is sixty (60) days prior to the end of such Exclusivity Term, thirty (30) days after receipt of a corresponding invoice from Rigel, whichever is the later. Upon expiration of the Exclusivity Term, Novartis' right to conduct Compound Screening with a Novel Validated Target, subject to the payments required by Section 7.2 and 7.4, shall become nonexclusivenonexclusive [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.