Common use of FDA-Required Clinical Trials Clause in Contracts

FDA-Required Clinical Trials. If the Regulatory Authorities in the Territory require post marketing clinical trials after the FDA approval of the Product for the indication HTG, RELIANT shall be responsible for performance and cost; provided, however, that in the event that RELIANT determines that it no longer desires to continue to fund such development costs, it may cease such funding with reasonable notice to PRONOVA beforehand so that PRONOVA may arrange funding such that such studies are not interrupted or otherwise compromised and transfer the Registration for the Product to PRONOVA free of charge; provided, however, that in the event that PRONOVA sells or licenses the Registration to any third party, otherwise receives compensation from any third party in respect of the Registration, or acquires rights with respect to the foregoing, during the two (2) year period following the date on which the Registration is retransferred to PRONOVA hereunder, PRONOVA shall pay [***] percent ([***]%) of the net amount of such proceeds (reduced by PRONOVA’s transaction costs) to RELIANT, such amounts to be paid within thirty (30) days after receipt by PRONOVA.

FDA-Required Clinical Trials. If the Regulatory Authorities in the Territory require post marketing clinical trials after the FDA approval of the Product for the indication HTG, RELIANT shall be responsible for performance and cost; provided, however, that in the event that RELIANT determines that it no longer desires to continue to fund such development costs, it may cease such funding with reasonable notice to PRONOVA beforehand so that PRONOVA may arrange funding such that such studies are not interrupted or otherwise compromised and transfer the Registration for the Product to PRONOVA free of charge; provided, however, that in the event that PRONOVA sells or licenses the Registration to any third party, otherwise receives compensation from any third party in respect of the Registration, or acquires rights with respect to the foregoing, during the two (2) year period [***] following the date on which the Registration is retransferred to PRONOVA hereunder, PRONOVA shall pay [***] percent ([***]%) of the net amount of such proceeds (reduced by PRONOVA’s transaction costs) to RELIANT, such amounts to be paid within thirty (30) days after receipt by PRONOVA.

FDA-Required Clinical Trials. If the Regulatory Authorities in the Territory require post marketing clinical trials after the FDA approval of the Product for the indication HTG, RELIANT shall be responsible for performance and cost; provided, however, that in the event that RELIANT determines that it no longer desires to continue to fund such development costs, it may cease such funding with reasonable notice to PRONOVA beforehand so that PRONOVA may arrange funding such that such studies are not interrupted or otherwise compromised and transfer the Registration for the Product to PRONOVA free of charge; provided, however, that in the event that PRONOVA sells or licenses the Registration to any third party, otherwise receives compensation from any third party in respect of the Registration, or acquires rights with respect to the foregoing, during the two (2) year period following the date on which the Registration is retransferred to PRONOVA hereunder, PRONOVA shall pay pay[***] percent ([***]%) of the net amount of such proceeds (reduced by PRONOVA’s transaction costs) to RELIANT, such amounts to be paid within thirty (30) days after receipt by PRONOVA.