Termination by BMS Without Cause Clause Samples
Termination by BMS Without Cause. In the case where BMS desires to discontinue further participation in the Cancer Development Program and Alder desires to continue Development of the Cancer Product, BMS may terminate the Cancer Development Program and its rights with respect to the Cancer Field in accordance with Section 13.2, provided that BMS shall continue to be responsible for its share of all Cancer Development Costs incurred by Alder after the effective date of such termination for the period of [***] following such date of termination or, if longer, until [***]. All licenses granted to BMS upon exercise of the Option shall terminate, and the Alder Cancer Territory [***], upon the effective date of such termination. Thereafter, the provisions of Sections 3.5, 3.6 and 3.7 shall apply as if BMS never exercised such Option.
Termination by BMS Without Cause. If BMS determines that it will not pursue the Development or Commercialization of one or more Licensed Products (or Collaboration Targets), then BMS may terminate this Agreement on a Licensed Product-by-Licensed Product (or Collaboration Target-by-Collaboration Target) basis upon ninety (90) days' prior written notice to Tranzyme, provided no such termination shall become effective before the end of the Research Program Term and/or the payment in full of the amounts owed by BMS to Tranzyme under Section 6.2.