Right to Opt Back In Prior to Phase IIb Development Sample Clauses

Right to Opt Back In Prior to Phase IIb Development. The Non-Participating Pre-Phase IIb Party for a Product Candidate under a Unilateral Pre-Phase IIb Plan shall have the right to opt back in to the Development of such Product Candidate (the “Pre-Phase IIb Opt-In”) by providing the Participating Pre-Phase IIb Party with written notice of its exercise of such Pre-Phase IIb Opt-In (the “Pre-Phase IIb Election Notice”) within [***] days after receiving from the Participating Pre-Phase IIb Party: (A) a Completion Notice with respect to such Unilateral Pre-Phase IIb Development, (B) reasonable access to (with the ability to analyze and manipulate but not change) the electronic database that contains the Regulatory Data with respect to such Unilateral Pre-Phase IIb Development, and (C) a written statement of the costs that would need to be paid under clauses (1) and (2) below by the Non-Participating Pre-Phase IIb Party if it elects to exercise its Pre-Phase IIb Opt-In ((A), (B) and (C) collectively, the “Pre-Phase IIb Notification”). In addition, the Participating Pre-Phase IIb Party promptly shall provide to the Non-Participating Pre-Phase IIb Party such additional Information and Regulatory Documentation with respect to the Development activities described in such Completion Notice as may be reasonably requested by the Non-Participating Pre-Phase IIb Party in order to evaluate such Development activities. The Participating Pre-Phase IIb Party shall provide the Pre-Phase IIb Notification to the Non- Participating Pre-Phase IIb Party promptly after completion of such Unilateral Pre-Phase IIb Development. Any Pre-Phase IIb Opt-In exercise shall become effective only if the Non- Participating Pre-Phase IIb Party pays the Participating Pre-Phase IIb Party an amount equal to the sum of the following (as applicable) within [***] days after its delivery of the Pre- Phase IIb Election Notice: (1) [***] percent ([***]%) of such Participating Pre-Phase IIb Party’s Development Costs incurred in connection with such Unilateral Pre- Phase IIb Plan (even if such Non-Participating Pre-Phase IIb Party delivers its notice of election to opt back in prior to the completion of such activities); and (2) If such Non-Participating Pre-Phase IIb Party was a Non-Participating Exploratory Party for the applicable Development Candidate, [***] percent ([***]%) of such Participating Exploratory Party’s Development Costs incurred in connection with Unilateral Exploratory Development for the applicable Development Candidate; with such aggre...
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Related to Right to Opt Back In Prior to Phase IIb Development

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