Specific Achievements Clause Samples
The 'Specific Achievements' clause defines particular goals, milestones, or deliverables that a party is required to accomplish under the agreement. It typically outlines measurable outcomes or performance standards, such as completing a project phase, reaching a sales target, or delivering a product by a certain date. By clearly identifying these achievements, the clause ensures both parties have a mutual understanding of expectations and provides a basis for evaluating performance, thereby reducing ambiguity and potential disputes.
Specific Achievements. Performance Goals For The Past Year Goals and Accomplishments Were Goals Achieved? Reason if Not Achieved
Specific Achievements. The Licensee will:
9.3.1 file an Investigational New Drug Application (“IND”) or equivalent covering a Licensed Product with the FDA or equivalent foreign regulatory agency within [***] months after the Effective Date;
9.3.2 initiate Phase I clinical trials for a Licensed Product within [***] months after the Effective Date
9.3.3 market Licensed Product in the United States within [***] months of receiving approval of such Licensed Product from the FDA; and use reasonable commercial efforts to fill the market demand for Licensed Products and Licensed Services following commencement of marketing at any time during the exclusive period of this Agreement. Nothing contained herein shall be construed or interpreted as a basis for termination of this Agreement if FDA approval is not obtained and no assurances are made that such approval is obtained.