Termination Upon Cessation of Development Sample Clauses
Termination Upon Cessation of Development. (a) Termination by Either Party Either Party shall have the unilateral right to terminate this Agreement on a product-by-product basis at any time by giving [ * ] advance written notice to the other Party if SPL ceases development or commercialization of Licensed Compound or Licensed Product pursuant to Sections 2.6(a) and (c), subject to Section 2.6(b). In the event of the exercise of such termination rights, the rights and licenses granted to SPL under Sections 2.1 and 2.2 shall terminate and all rights to Licensor Know-How, Licensed Compounds and Licensed Products with respect to the applicable product which are granted pursuant to this Agreement shall revert to Licensor.
(b) Termination by Licensor Licensor shall have the unilateral right to terminate this Agreement by giving [ * ] days written notice to SPL in the event that:
(i) [ * ]
(ii) [ * ] In the event of the exercise of such termination rights, the rights and licenses granted to SPL under Sections 2.1 and 2.2 shall terminate and all rights to Licensor Know-How, Licensed Compounds and Licensed Products with respect to the applicable product which are granted pursuant to this Agreement shall revert to Licensor.
Termination Upon Cessation of Development. In the event that Wyeth determines to discontinue Development and Commercialization of ** in all countries of the Territory, then Wyeth will terminate this Agreement in its entirety by providing written notice to Pharmacopeia, which termination will be effective upon the delivery of such notice. In the event that Wyeth determines to discontinue Development and Commercialization of all Wyeth Available Compounds in any particular Major Market Country, then Wyeth will terminate this Agreement in such Major Market Country by providing written notice to Pharmacopeia, which Partial Termination will be effective upon the delivery of such notice.
Termination Upon Cessation of Development. (a) Termination by Either Party Either Party shall have the unilateral right to terminate this Agreement on a product-by-product basis at any time by giving sixty (60) days advance written notice to the other Party if SPL ceases development or commercialization of Licensed Compound or Licensed Product pursuant to Sections 2.6(a) and (c), subject to Section 2.6(b). In the event of the exercise of such termination rights, the rights and licenses granted to SPL under Sections 2.1 and 2.2 shall terminate and all rights to Licensor Know-How, Licensed Compounds and Licensed Products with respect to the applicable product which are granted pursuant to this Agreement shall revert to Licensor.