Common use of Target Addition—request and updated Work Plans Clause in Contracts

Target Addition—request and updated Work Plans. Merck can request a Target Addition by means of a written request to Ablynx (the “Target Combination Addition Notice”), which should identify the Immuno-oncology Target(s) that Merck proposes to add to the Research Program. The Target Combination Addition Notice should be received by Ablynx not later than […***…]. Within […***…] from receipt of the Target Combination Addition Notice, the Parties shall agree on and approve amended Work Plans or new Work Plan (as appropriate under Section 2.5.6) to reflect said Target Addition, as well as any extensions of the Research Program Term under Section 2.9.2 as may be required to perform the activities under said amended Work Plan(s). With respect to any Added Target, Merck at its sole discretion shall be able to add the Added Target to Work Plan 1, Work Plan 2, Work Plan 3 or to request development of a new work plan, as appropriate. Any changes to the FTE requirements for the Research Term Year in which said Target Addition takes place shall be reported and reconciled at the end of the relevant Research Term Year in accordance with Section 5.3.2. Upon approval of the amended Work Plans, the Parties shall update Schedules 1. 103, 1.104, or 1.105 accordingly as appropriate (in accordance with Section 2.5.6). Each Target Addition shall be subject to payment by Merck to Ablynx of the payments under Section 5.2 and shall only become effective upon receipt by Ablynx of said payments.