Common use of Termination of Research Program Clause in Contracts

Termination of Research Program. Upon not later than [ * ] prior notice Taisho may terminate the Research Program at the end of the fifth (5th) year of the Research Program if it shall be dissatisfied, in its sole judgment, with the progress or results of the Research Program. The Research Committee may terminate the Research Program any time if it determines the Research Program is no longer scientifically useful. In case of such an early termination by Taisho or the Research Committee, Taisho shall be exempt from any payment(s) that would have become due and payable after such early termination date.

Termination of Research Program. Upon not later than [ * ] prior notice Taisho may terminate the Research Program at the end of the fourth (4/th/) or the fifth (5th5/th/) year of the Research Program if it shall be dissatisfied, in its sole judgment, with the progress or results of the Research Program. The Research Committee may terminate the Research Program any time if it determines the Research Program is no longer scientifically useful. In case of such an early termination by Taisho or the Research Committee, Taisho shall be exempt from any payment(s) that would have become due and payable after such early termination date.

Termination of Research Program. Upon not later than [ * ] one hundred twenty (120) days prior notice Taisho may terminate the Research Program at the end of the fifth third (5th3rd) or the fourth (4th) year of the Research Program if it shall be dissatisfied, in its sole judgmentjudgement, with the progress or results of the Research Program. The Research Committee may terminate the Research Program any time if it determines the Research Program is no longer scientifically useful. In case of such an early termination by Taisho or the Research Committee, Taisho shall be exempt from any payment(s) that which would have become due and payable after such early termination date.

Termination of Research Program. Upon not later than [ * ] prior notice Taisho may terminate the Research Program at the end of the fifth (5th) year [ * ] of the Research Program if it shall be dissatisfied, in its sole judgmentjudgement, with the progress or results of the Research Program. The Research Committee may terminate the Research Program any time if it determines the Research Program is no longer scientifically useful. In case of such an early termination by Taisho or the Research Committee, Taisho shall be exempt from any payment(s) that which would have become due and payable after such early termination date.