Merck Discontinuance Sample Clauses

Merck Discontinuance. Subject to the provisions of Section 2.11.6 below relating to Company Candidates, following the Research Program Term, should Merck decide through an authorized executive committee to discontinue the Research, Development and/or Commercialization of any Compound or Product for one of the Initial Indications, Merck shall promptly provide written notice (“Merck Discontinuance”) to Company of same (such Initial Indication a “Discontinued Initial Indication”), and Company shall have the opportunity upon Company notification to the Joint Steering Committee to engage in the Research and Development of a Peptide or biologic for such Discontinued Initial Indication; [***]. Such Company notification shall, subject to the provisions of Section 2.11.6, constitute a waiver with respect to Company’s obligations pursuant to any of Sections 2.11.1 through 2.11.3 with respect to such Discontinued Indication. Company may request a review by a Merck authorized executive committee as referred to in this Section 2.11.5 to determine whether the Research, Development and Commercialization of any Compound or Product for an Initial Indication should be discontinued if a period of eighteen (18) months has passed since Merck has provided a Progress Report pursuant to Section 3.5 showing active Research, Development or Commercialization of a Compound or Product and Merck has not made a decision to discontinue Research, Development and Commercialization of any Compound or Product for such Initial Indication through an authorized executive committee.
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Merck Discontinuance. Subject to the provisions of Section Error! Reference source not found. below relating to Company Candidates, following the Research Program Term, should Merck decide through an authorized executive committee to discontinue the Research, Development and/or Commercialization of any Compound or Product for one of the Initial Indications, Merck shall promptly provide written notice (“Merck Discontinuance”) to Company of same (such Initial Indication a “Discontinued Initial Indication”), and Company shall have the opportunity upon Company notification to the Joint Steering Committee to engage in the Research and Development of a Peptide or biologic for such Discontinued Initial Indication; [***]. Such Company notification shall, subject to the provisions of Section Error! Reference source not found., constitute a waiver with respect to Company’s obligations pursuant to any of Sections Error! Reference source not found. through Error! Reference source not found. with respect to such Discontinued Indication. Company may request a review by a Merck authorized executive committee as referred to in this Section 2.11.5 to determine whether the Research, Development and Commercialization of any Compound or Product for an Initial Indication should be discontinued if a period of eighteen (18) months has passed since Merck has provided a Progress Report pursuant to Section Error! Reference source not found. showing active Research, Development or Commercialization of a Compound or Product and Merck has not made a decision to discontinue Research, Development and Commercialization of any Compound or Product for such Initial Indication through an authorized executive committee.
Sample 1

Related to Merck Discontinuance

  • Discontinuance The Employer has the right, at any time, to suspend or discontinue its contributions under the Plan, and to terminate, at any time, this Plan and the Trust created under this Agreement. The Plan will terminate upon the first to occur of the following:

  • Discontinuance of Business If COMPANY discontinues operating its business, this Agreement shall terminate as of the last day of the month on which COMPANY ceases its entire operations with the same effect as if that last date were originally established as termination date of this Agreement.

  • Discontinuance of Service 7.1 The procedures for discontinuing service to an End User are as follows:

  • Discontinuance of Employment This Agreement shall not give the Optionee a right to continued employment with the Company or any parent or subsidiary of the Company, and the Company or any such parent or subsidiary employing the Optionee may terminate his/her employment at any time and otherwise deal with the Optionee without regard to the effect it may have upon him/her under this Agreement.

  • Notice to Discontinue Each Designated Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 7(a)(v), such Designated Holder shall forthwith discontinue disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such Designated Holder's receipt of the copies of the supplemented or amended prospectus contemplated by Section 7(a)(v) and, if so directed by the Company, such Designated Holder shall deliver to the Company (at the Company's expense) all copies, other than permanent file copies then in such Designated Holder's possession, of the prospectus covering such Registrable Securities which is current at the time of receipt of such notice. If the Company shall give any such notice, the Company shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement (including, without limitation, the period referred to in Section 7(a)(ii)) by the number of days during the period from and including the date of the giving of such notice pursuant to Section 7(a)(v) to and including the date when sellers of such Registrable Securities under such Registration Statement shall have received the copies of the supplemented or amended prospectus contemplated by and meeting the requirements of Section 7(a)(v).

  • Continuity of Business (a) Seller will maintain a disaster recovery plan in support of the services it performs pursuant to this Sale Supplement and each Deferred Servicing Agreement. Seller’s disaster recovery plan shall include, at a minimum, procedures for back-up/restoration of operating and loan administration computer systems; procedures and third-party agreements for replacement equipment (e.g. computer equipment), and procedures and third-party agreements for off-site production facilities. Seller will provide Purchaser information regarding its disaster recovery plan upon Purchaser’s reasonable request. Seller agrees to annually test its disaster recovery plan to ensure compliance with this Section 6.9. If such test results identify a material failure, Seller shall advise Purchaser of the steps Seller will be taking to remedy such failure and shall notify Purchaser when Seller has remedied such failure and retested. Seller will notify Purchaser anytime Seller’s disaster recovery plan is activated. In the event of an activation of the disaster recovery plan, Seller shall use best efforts to provide redundancy capabilities for a majority of the critical systems within 48 hours in at least one of Seller’s other servicing facilities unaffected by the disaster to ensure servicing of the Mortgage Loans will be re-established within such 48 hours.

  • Abandonment If at any time during the term of this Agreement Tenant abandons the Premises or any part thereof, Landlord may, at Landlord's option, obtain possession of the Premises in the manner provided by law, and without becoming liable to Tenant for damages or for any payment of any kind whatever. Landlord may, at Landlord's discretion, as agent for Tenant, relet the Premises, or any part thereof, for the whole or any part thereof, for the whole or any part of the then unexpired term, and may receive and collect all rent payable by virtue of such reletting, and, at Landlord's option, hold Tenant liable for any difference between the rent that would have been payable under this Agreement during the balance of the unexpired term, if this Agreement had continued in force, and the net rent for such period realized by Landlord by means of such reletting. If Landlord's right of reentry is exercised following abandonment of the Premises by Tenant, then Landlord shall consider any personal property belonging to Tenant and left on the Premises to also have been abandoned, in which case Landlord may dispose of all such personal property in any manner Landlord shall deem proper and Landlord is hereby relieved of all liability for doing so.

  • Discontinuance of Remedies In case Lender shall have proceeded to invoke any right, remedy, or recourse permitted under the Loan Documents and shall thereafter elect to discontinue or abandon same for any reason, Lender shall have the unqualified right so to do and, in such event, Borrower and Lender shall be restored to their former positions with respect to the Debt, the Loan Documents, the Property or otherwise, and the rights, remedies, recourses and powers of Lender shall continue as if same had never been invoked.

  • Property of Employer Officer agrees that, upon the termination of Officer’s employment with Employer, Officer will immediately surrender to Employer all property, equipment, funds, lists, books, records and other materials of Employer or its controlled subsidiaries or affiliates in the possession of or provided to Officer, provided, however, Officer shall be entitled to retain individualized bound volumes of transaction documents in which Officer provided services.

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