Common use of Successful Completion Clause in Contracts

Successful Completion. In the event that Affimed believes that it has successfully completed Phase A in accordance with Section 2.6(i) above on or before the expiration of the Maximum Efforts Period, it shall promptly provide to the Company and Xxxxxxx all data which demonstrate that Phase A has been successfully completed 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 “Phase A Completion Determination Period”) and shall confirm to Affimed in writing within such Phase A Completion Determination Period whether or not, in the Company’s good faith opinion, it agrees with Affimed’s determination that Phase A has been successfully completed. If, during the Phase A Completion Determination Period, the Company confirms that Phase A has been successfully completed as specified in Section 2.6(i), then within the Phase A Completion Determination Period, the Company shall select ***** Lead Candidate(s) for further characterization and development 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 such Lead Candidate(s) within such Phase A Completion Determination Period, Xxxxxxx may, within ***** after the expiration of the Phase A Completion Determination Period, select such 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 select such Lead Candidate(s) as provided in this Section 2.6.1, the proceeding described in Section 5.1 shall apply.

Successful Completion. In the event that Affimed believes that it has successfully completed Phase A Xxxxx X-0 in accordance with Section 2.6(i3.3.2(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 Phase A Xxxxx X-0 has been successfully completed that have not previously been provided to the Companycompleted. The Company shall review such data within thirty (30) days ***** following delivery of such data (the “Phase A Xxxxx X-0 Completion Determination Period”) and shall confirm to Affimed in writing within such Phase A B-1 Completion Determination Period whether or not, in the Company’s good faith opinion, it agrees with Affimed’s determination that Phase A Xxxxx X-0 has been successfully completed. If, during the Phase A Xxxxx X-0 Completion Determination Period, the Company confirms that Phase A Xxxxx X-0 has been successfully completed as specified in Section 2.6(i3.3.2(i), then then, within the Phase A Xxxxx X-0 Completion Determination Period, the Company shall select ***** Lead Candidate(s) Development Candidate and ***** Back-up Candidate for further characterization and development in Phase B 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 such Lead Candidate(s) ***** Development Candidate and ***** Back-up Candidate for further development under Xxxxx X-0 within such the Phase A B-1 Completion Determination Period, Xxxxxxx may, within ***** days after the expiration of the Phase A B-1 Completion Determination Period, select make such Lead Candidate(s) 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 select make such Lead Candidate(s) as provided in this Section 2.6.1selections, the proceeding described in Section 5.1 shall apply.