Termination by AbbVie. (a) AbbVie may terminate this Agreement in its entirety or on an Included Target-by-Included Target basis, at any time during the Term immediately upon written notice to Morphic that AbbVie in good faith determines that it is not advisable for AbbVie to continue to Develop or Commercialize (i) all of the Licensed Products or (ii) all of the Licensed Products containing Licensed Compounds Directed to such Included Target, as applicable, in either case ((i) or (ii)), due to Safety Reasons. For purposes of this Agreement, “Safety Reason” means that it is AbbVie’s or its Affiliate’s or Sublicensee’s good faith belief that the medical risk/benefit of such Licensed Compound or Licensed Product is sufficiently unfavorable to Exploit or to continue to Exploit such Licensed Compound or Licensed Product.
Appears in 4 contracts
Samples: Collaboration and Option Agreement (Morphic Holding, Inc.), Collaboration and Option Agreement (Morphic Holding, Inc.), Collaboration and Option Agreement (Morphic Holding, Inc.)
