For Abandonment Clause Samples

For Abandonment. If Licensee fails to perform commercially reasonable activities for, or devote commercially reasonable resources to, the research (including in collaboration with third parties), development, manufacturing or commercialization of the Product, or otherwise ceases such activities without good faith cause, for a period of nine (9) consecutive months during the Term, then Licensor may provide written notice of such failure under this Section 7(b)(iv). If Licensee does not (A) within thirty (30) days after such notice, provide a reasonable corrective action plan and (B) within sixty (60) days after such notice, commence performance under such corrective action plan, then Licensor will have the right to terminate this Agreement upon written notice to Licensee.

For Abandonment. In the event Licensee elects to abandon a Licensed Product in a particular country in the Territory in accordance with Section 7.2 above, Licensee may terminate this Agreement with respect to affected countries or products upon written notice to Licensor. In such event, all terminated rights transfer back to Licensor. Licensee will assist Licensor with the transfer of rights at Licensee’s expense.