Common use of Participating Party Clause in Contracts

Participating Party. If only one Party desires to fund Pre-Phase IIb Development of a Product Candidate for an Indication and the other Party delivers an Opt- Out Notice in accordance with Section 5.4(b) or 5.5(a)(iii), then such Pre-Phase IIb Development shall be deemed “Unilateral Pre-Phase IIb Development.” The Party that desires to fund such Unilateral Pre-Phase IIb Development shall be the “Participating Pre- Phase IIb Party,” and the other Party shall be the “Non-Participating Pre-Phase IIb Party,” in each case with respect to such Product Candidate for such Pre-Phase IIb Development.

Participating Party. If the Non-Participating Pre-Phase IIb Party does not opt in under Section 5.6(a)(vi), or if a Party delivers to the other Party an Opt- Out Notice pursuant to Section 5.5(b)(ii), such that only one Party desires to fund Pre-Phase IIb Development of a Product Candidate for an Indication and the other Party delivers an Opt- Out Notice in accordance with Section 5.4(b) or 5.5(a)(iii)Development, then such Pre-Phase IIb Development shall be deemed “Unilateral Pre-Phase IIb Development.” ”. The Party that desires to fund such Unilateral Pre-Phase IIb Development shall be the “Participating Pre- Phase IIb Party,” and the other Party shall be the “Non-Participating Pre-Phase IIb Party,” in each case with respect to such Product Candidate for such Pre-Phase IIb Development.

Participating Party. If the Non-Participating Pre-Phase IIb Party does not opt in under Section 5.6(a)(vi), or if a Party delivers to the other Party an Opt- Out Notice pursuant to Section 5.5(b)(ii), such that only one Party desires to fund Pre-Phase IIb Development of a Product Candidate for an Indication and the other Party delivers an Opt- Out Notice in accordance with Section 5.4(b) or 5.5(a)(iii)Development, then such Pre-Phase IIb Development shall be deemed ““ Unilateral Pre-Phase IIb Development.” Development ”. The Party that desires to fund such Unilateral Pre-Phase IIb Development shall be the “Participating Pre- Phase IIb Party,” and the other Party shall be the “Non-Participating Pre-Phase IIb Party,” in each case with respect to such Product Candidate for such Pre-Phase IIb Development.