Next Generation Products Sample Clauses
The "Next Generation Products" clause defines how the agreement addresses products that represent significant technological advancements or new iterations beyond the current offerings. This clause typically outlines whether such future products are included under the existing terms, such as licensing, distribution, or pricing, or if they require separate negotiation. By clarifying the treatment of next generation products, the clause helps prevent disputes over rights and obligations related to future innovations, ensuring both parties understand how advancements will be handled within the contractual relationship.
Next Generation Products. If Enanta elects to exercise the Co-Development and Profit Share Option with respect to any Next Generation Product (such as the Second Generation Product) [*****].
R. Section 6.5.1(e) (Combination Products) of the Agreement is hereby deleted in its entirety, and the following Section 6.5.1(e) is inserted in lieu of the deleted Section:
Next Generation Products. Except as specifically permitted in this Section 2.3.1, neither Summit nor any of its Affiliates shall, itself or with or through any Third Party, engage in any IND-enabling toxicology studies or clinical Development or Commercialization of any Next Generation Collaboration Compound that has not been designated by the JSC as a Development Candidate, or any Next Generation Product containing or comprising a Next Generation Collaboration Compound that is not a Development Candidate. If, during the Term, Summit wishes to conduct any IND-enabling toxicology studies or clinical Development with respect to a Next Generation Collaboration Compound, then Summit will propose such Next Generation Collaboration Compound and the Development activities that it wishes to conduct for such compound to the JSC, and the JSC shall determine whether or not to designate such Next Generation Collaboration Compound as a Development Candidate. If the JSC determines to designate such Next Generation Collaboration Compound as a Development Candidate, then (a) thereafter Sarepta will pay the applicable milestone payment set forth TABLE 8.2.2 as the milestones therein are achieved and (b) the Parties shall amend the Development Plan to include such applicable Development activities for such Next Generation Collaboration Compound in accordance with Section 2.2.2. If the JSC does not designate such Next Generation Collaboration Compound as a Development Candidate (a “Declined NG Development Candidate”), then such Declined NG Development Candidate shall no longer be considered a Next Generation Collaboration Compound under this Agreement, and, subject to Section 2.3.2 and Section 2.3.3, Summit and any of its Affiliates shall have the right to engage in further Development, Manufacturing or Commercialization activities with respect to such Declined NG Development Candidate, or any product containing such Declined NG Development Candidate (including through Third Parties), in each case solely for the Summit Territory.
Next Generation Products. (a) Notwithstanding any provision in this Agreement to the contrary, this Agreement confers no rights to GALDERMA in any Next Generation Product; provided, however, that, if ANIKA wishes to commercialize any Next Generation Product during the Term in any country in the Territory and seeks to outsource such commercialization to a Third Party (it being understood that the engagement of a third party contract sales organization shall not be deemed to be an outsourcing for purposes hereof, provided that such organization specializes in providing marketing and sales support to its customers on a contract basis), then ANIKA shall notify GALDERMA in writing of such intent and provide such information about such Next Generation Product as GALDERMA may reasonably request. In such case, GALDERMA shall have until the thirtieth (30th) day after actual receipt of such written notice from ANIKA to notify ANIKA in writing whether or not GALDERMA desires to negotiate commercial arrangements concerning such Next Generation Product in one or more countries in the Territory. If GALDERMA desires to negotiate a commercial arrangement concerning such Next Generation Product, then for sixty (60) days following the actual receipt of such written notice by GALDERMA, GALDERMA and ANIKA shall use commercially reasonable efforts to negotiate such arrangement, provided, however, that neither Party shall be obligated to accept any offer concerning such Next Generation Product or be required to enter into any agreement. After the termination of such sixty (60) day period, ANIKA may pursue negotiations with Third Parties concerning commercial arrangements regarding the same Next Generation Product and shall be free to enter into any agreements with Third Parties concerning such Next Generation Product on any terms.
(b) Notwithstanding any provision in this Agreement to the contrary, this Agreement confers no rights to ANIKA in any Next Generation Product; provided, however, that, if GALDERMA wishes to undertake the development or manufacture of any Next Generation Product during the Term in any country in the Territory and seeks to outsource such development or manufacture to a Third Party, then GALDERMA shall notify ANIKA in writing of such intent and provide such information about such Next Generation Product as ANIKA may reasonably request. In such case, ANIKA shall have until the thirtieth (30th) day after actual receipt of such written notice from GALDERMA to notify GALDERMA in writ...