Failure to Meet Development Milestones. (a) If LICENSEE is unable to meet any of its diligence obligations set forth in Paragraphs 7.1 and 7.2, then REGENTS will so notify LICENSEE of failure to perform. LICENSEE will have the right and option to extend the target date of any such due diligence obligation for a period of six (6) months upon the payment of [Written amount]_thousand dollars ($ Number) within thirty (30) days of the date to be extended for each such extension option exercised by LICENSEE. LICENSEE may further extend the target date of any diligence obligation for an additional six (6) months upon payment of an additional [Written amount] thousand dollars ($ Number). Additional extensions may be granted only by mutual written AGREEMENT of the parties to this AGREEMENT. These payments are in addition to the minimum royalty payments specified in Paragraph 6.5. Should LICENSEE opt not to extend the obligation or fail to meet it by the extended target date, then REGENTS will have the right and option either to terminate this AGREEMENT or to reduce LICENSEE's exclusive license to a non-exclusive royalty-bearing license. This right, if exercised by REGENTS, supersedes the rights granted in Article 3. The right to terminate this AGREEMENT or reduce LICENSEE's exclusive license granted hereunder to a non-exclusive license will be REGENTS' sole remedy for breach of Paragraph 7.1 or 7.2.
Failure to Meet Development Milestones. (a) If LICENSEE fails to meet its due diligence obligations hereunder, then REGENTS has the right to terminate this Agreement. This right supersedes the rights granted by REGENTS in Article 3 (Xxxxx); and
Failure to Meet Development Milestones for reference only
Failure to Meet Development Milestones. If Graphite believes that, despite using commercially reasonable efforts, it will not achieve a milestone specified in Appendix A within the time period set forth therein, it may notify Stanford in writing in advance of the relevant deadline. Graphite shall include with such notice (a) an explanation of the reason(s) for such failure (“Milestone Explanation”) and (b) a reasonably detailed, written plan for achieving an amended milestone within a reasonable time period thereafter (“Milestone Plan”). If Graphite so notifies Stanford and provides Stanford with a Milestone Explanation and Milestone Plan, but the Milestone Plan is not reasonably acceptable to Stanford, then Stanford shall provide Graphite with a detailed, written explanation as to why the Milestone Plan is not reasonably acceptable and shall provide Graphite with suggestions for a reasonably acceptable Milestone Plan. Graphite shall have an opportunity to provide Stanford with a Milestone Plan reasonably acceptable to Stanford within [***] after receipt of the notice from Stanford described in the previous sentence, during which time Stanford agrees to exercise good faith in working with Graphite to develop a mutually agreeable revised Milestone Plan. If, within such [***] period, Graphite provides Stanford with a Milestone Plan reasonably acceptable to Stanford, then Appendix A shall be amended automatically to incorporate the amended milestone(s) set forth in the Milestone Plan. If, within such [***] period, Graphite fails to provide a Milestone Plan reasonably acceptable to Stanford, then Graphite shall have an additional opportunity to provide Stanford with a Milestone Plan reasonably acceptable to Stanford within [***] after notice of rejection from Stanford, or until the original deadline of the relevant Development Milestone, whichever is later, to meet such milestone. Graphite’s failure to do so shall constitute a material breach of this Agreement and Stanford shall have the right to terminate this Agreement in accordance with Section 15.3. For each milestone the timeline may only be extended [***] times and by a maximum of [***] per diligence milestone event, unless otherwise agreed in writing by Stanford.
Failure to Meet Development Milestones. The failure of a Party to achieve any Development milestone for a Product shall ************.
Failure to Meet Development Milestones. If Licensee believes that, despite using Commercially Reasonable Efforts, it shall not achieve a Development Milestone for a Licensed Product in Table 10.1, it may notify CHOP in writing in advance of the relevant deadline. Licensee shall include with such notice (a) a reasonable explanation of the reasons for such failure (lack of finances or development preference for another product shall not constitute reasonable basis for such failure) (“Milestone Explanation”) and (b) a reasonable, detailed, written plan for promptly achieving a reasonable extended and/or amended milestone (“Milestone Plan”). *** Confidential Information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to this omitted information.
Failure to Meet Development Milestones. If either (i) Immtech fails to obtain Positive Phase III Clinical Trials in respect of the current Phase III Clinical Trials or (ii) the FDA rejects the NDA, then, Par shall have the right to immediately terminate this Agreement by providing a written notice of termination to Immtech.
Failure to Meet Development Milestones. In the event that (i) Licensee has not met at their respective scheduled date any of the development milestones as set forth in the Development Plan, as may be amended, and/or any of its development obligations under Article 3; and (ii) Licensee has not remedied its failure in connection therewith within ninety (90) days from written notice by Inserm Transfert to do so, Inserm Transfert (on behalf of Licensors) may terminate this Agreement with immediate effect and without judicial intervention, or may alternatively decide, at its sole discretion, to convert the license into a non-exclusive license.
Failure to Meet Development Milestones. In the event that BD does not believe that Newco has met any Development Milestones set forth in the Development Plan, and as a result of such failure, BD believes that there is a substantial risk that any of the diligence obligations set forth in the BD/MPI Collaboration Agreement will not be met with respect to any Exclusive Product Area or Co-Exclusive Non-Colon Pharmacogenomic Product Opportunity, then the following provisions shall apply:
