Precision Materials Clause Samples

Precision Materials. In order to execute the Research Plan, Precision may need to transfer certain materials to Prevail that are not otherwise delivered under a supply or other separate agreement between the Parties or their Affiliates (“Precision Materials”). These Precision Materials will be used by Prevail only for Development work pursuant to this Agreement. Unless otherwise mutually agreed, Precision shall be responsible for obtaining all necessary approvals and/or filings as required under Applicable Laws for the exportation of Precision Materials to Prevail and Prevail shall be responsible for obtaining all necessary approvals and/or filings as required under Applicable Laws for their importation and use by Prevail. All Precision Materials will at all times remain the property of Precision and will be held confidential in respect to Third Parties and will not be transferred to a Third Party (other than a Sublicensee or a subcontractor engaged in accordance with Section 4.9) without prior written permission of Precision. Upon the termination of this Agreement, Prevail will, at Precision’s sole discretion and ▇▇▇▇▇▇▇’s cost, either (a) dispose of any residual Precision Materials not consumed by Prevail in the performance of this Agreement in accordance with Applicable Laws, or (b) upon request, return such Precision Materials to Precision. Any such materials provided to Prevail by Precision shall be accompanied by a Materials Transfer Record. 4.12 [***].