POP Decision Point Sample Clauses

POP Decision Point a) Within [*] of the completion of each POP Period for each Initial Product (the " [*] ”), the Parties shall negotiate and agree upon an R&D Plan for the Optimization Period (the “Optimization Document”) for such Initial Product, which Optimization Period ends on a date designated the “Optimization Completion Date” in JOINT DEVELOPMENT AND LICENSE AGREEMENT — EXECUTION VERSION such Optimization Document, unless JJC notifies Palomar in writing before the end of the [*] that JJC declines to go forward with such Initial Product. The Optimization Document for such Initial Product shall include the work to be performed and the costs associated therewith (including the Optimization Payments during the Optimization Period for such Initial Product). Within [*] following the completion of the Optimization Document for an Initial Product (and no later than [*] after the end of the [*] ) (such [*] , the “JJC Consideration Period”), JJC shall determine in its sole discretion whether it desires to enter into the Optimization Period for such Initial Product based on the Optimization Document agreed to by the Parties during the [*] . If before the end of the JJC Consideration Period, either (i) JJC notifies Palomar in writing that JJC has elected to continue into the Optimization Period for an Initial Product, or (ii) JJC fails to notify Palomar that JJC declines to continue with such Initial Product into the Optimization Period, then the Parties shall be subject to, and shall begin to perform, the agreed-to Optimization Document. If before the end of the JJC Consideration Period, JJC notifies Palomar in writing that JJC has elected not to continue into the Optimization Period for an Initial Product, or if the Parties are unable to agree on an Optimization Document for an Initial Product during the [*] as provided above, then the consequences set forth in ARTICLE X.G shall apply. All Optimization Documents shall be treated as part of the R&D Plan for all purposes hereunder. b) In the event that any [*] or JJC Consideration Period for an Initial Product extends beyond the date [*] after the start of the R&D Program (the " [*] .
Sample 1
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