Partial Approval. If, after a proposal is made under Section 3.10(a), the JSC does not approve the addition of a new Product as a Future Product or an additional Indication for an existing Collaboration Product or a new formulation of an existing Collaboration Product, but determines that such Product or additional Indication or formulation should be subject to further evaluation then such Product or additional Indication or formulation shall be subject to this Section 3.10(b)(ii). At the request of the Proposing Party, the JSC shall develop a proposed work plan, which shall include specific goals (such as a clinical trial, with primary endpoints) for such Product or additional Indication or formulation and the Proposing Party shall provide all information reasonably requested by the JSC that would be material to making a determination as to whether such proposed work plan should be approved and to the appropriateness of the proposed goals. If the JSC agrees that if the specific goals set forth in work plan are met, the Indication, formulation or new Product would become a Collaboration Product, then the following shall apply:
(1) The Proposing Party shall have the right to undertake the work specified in the work plan at its own expense;
(2) If the Proposing Party carries out the work plan and meets all of the JSC-approved specific goals, then
(a) the other Party shall reimburse the Proposing Party an amount equal to [****] of the Development Expenses related to such trial that such Party would have otherwise been responsible for if the JSC had approved such trial as part of the Development Plan, and
(b) the formulation, Indication or new Product shall be developed jointly by the Parties and the JSC shall take the actions described in Section 3.10(b) in respect of such new Collaboration Product or additional Indication or new formulation of an existing Collaboration Product. *Certain information on this page has been omitted and filed separately with the commission. Confidential treatment has been requested with respect to the omitted portions.
(3) If the JSC-approved specific goals are not met, the Proposing Party shall be solely responsible for all related costs without the right of reimbursement from the other Party and neither Party will be allowed to continue development except in the following circumstances:
(a) If [****] is the Proposing Party, it may [****];
(b) If [****] is the Proposing Party [****] it may [****]. For purposes of clarity, the Parties agree that i...
Partial Approval. If the party receiving a Claim approves the Claim in part and denies it in part, such action shall be final and binding unless within 30 days of such action the other party invokes the procedure set forth in Article 17 for final resolution of disputes.
Partial Approval. If any portion of a requisition for a disbursement of funds from the FF&E Pledged Account is not approved by Trustee for any reason, but the remainder of such requisition is approved, then Trustee shall fund the approved portion of such requisition, in accordance with the terms and subject to the conditions of this Article 4A.
Partial Approval. If the Management Committee approves (with or without alteration) by Unanimous Resolution a program and budget submitted under clause 11.1 for only part of the period covered by the program and budget and either defers consideration of or rejects the remainder of that program and budget, then the Operator must convene a further meeting of the Management Committee for a date at least 1 month prior to the commencement of the remainder of the period, for the purpose of the Management Committee either:
(1) in the case of a deferment of consideration, considering the part of the original program and budget which covers the remainder of the period (which original program and budget the Operator may amend in any manner the Operator sees fit but if it does so it must submit details of its amendments to the Participants not less than 10 Business Days prior to that meeting); or
(2) in the case of rejection, to consider any other program and budget relating to the remainder of the period which the Operator may, of its own volition, or must, if requested by the Management Committee, prepare and submit to the Participants not less than 10 Business Days prior to that meeting.
Partial Approval. If Owner approves the Claim in part and denies it in part, such action will be final and binding unless within 30 days of such action Contractor invokes the procedure set forth in Article 17 for final resolution of disputes.
