Common use of Successful Completion Clause in Contracts

Successful Completion. In the event that Affimed believes that it has successfully completed Xxxxx X-0 in accordance with Section 3.3.2(i) above on or before the expiration of the applicable Maximum Efforts Period, it shall promptly provide to the Company and Xxxxxxx data which demonstrate that Xxxxx X-0 has been successfully completed. The Company shall review such data within ***** following delivery of such data (the “Xxxxx X-0 Completion Determination Period”) and shall confirm to Affimed in writing within such Phase B-1 Completion Determination Period whether or not, in the Company’s good faith opinion, it agrees with Affimed’s determination that Xxxxx X-0 has been successfully completed. If, during the Xxxxx X-0 Completion Determination Period, the Company confirms that Xxxxx X-0 has been successfully completed as specified in Section 3.3.2(i), then, within the Xxxxx X-0 Completion Determination Period, the Company shall select ***** Development Candidate and ***** Back-up Candidate for further development under Xxxxx X-0 and initiate Xxxxx X-0 by making the required payment under Section 7.1; provided, however, that, if the Company does not so select ***** Development Candidate and ***** Back-up Candidate for further development under Xxxxx X-0 within the Phase B-1 Completion Determination Period, Xxxxxxx may, within ***** days after the expiration of the Phase B-1 Completion Determination Period, make such selections on the Company’s behalf and the Company will then initiate Xxxxx X-0 by making the required payment under Section 7.1. If neither the Company nor Xxxxxxx make such selections, the proceeding described in Section 5.1 shall apply.

Successful Completion. In the event that Affimed believes that it has successfully completed Xxxxx X-0 Phase A in accordance with Section 3.3.2(i2.6(i) above on or before the expiration of the applicable Maximum Efforts Period, it shall promptly provide to the Company and Xxxxxxx all data which demonstrate that Xxxxx X-0 Phase A has been successfully completedcompleted that have not previously been provided to the Company. The Company shall review such data within ***** thirty (30) days following delivery of such data (the “Xxxxx X-0 Phase A Completion Determination Period”) and shall confirm to Affimed in writing within such Phase B-1 A Completion Determination Period whether or not, in the Company’s good faith opinion, it agrees with Affimed’s determination that Xxxxx X-0 Phase A has been successfully completed. If, during the Xxxxx X-0 Phase A Completion Determination Period, the Company confirms that Xxxxx X-0 Phase A has been successfully completed as specified in Section 3.3.2(i2.6(i), then, then within the Xxxxx X-0 Phase A Completion Determination Period, the Company shall select ***** Development Candidate and ***** Back-up Candidate Lead Candidate(s) for further characterization and development under Xxxxx X-0 in Phase B and initiate Xxxxx X-0 by making the required payment under Section 7.1; provided, however, that, if the Company does not so select ***** Development Candidate and ***** Back-up Candidate for further development under Xxxxx X-0 such Lead Candidate(s) within the such Phase B-1 A Completion Determination Period, Xxxxxxx may, within ***** days after the expiration of the Phase B-1 A Completion Determination Period, make select such selections Lead Candidate(s) on the Company’s behalf and the Company will then initiate Xxxxx X-0 by making the required payment under Section 7.1. If neither the Company nor Xxxxxxx make select such selectionsLead Candidate(s) as provided in this Section 2.6.1, the proceeding described in Section 5.1 shall apply.