The First Decision Point Clause Samples
The First Decision Point clause establishes a specific moment or milestone in a contract or project when key stakeholders must make an initial, binding decision regarding the direction or continuation of the work. Typically, this clause outlines what information or deliverables must be reviewed at this stage, who is responsible for making the decision, and the possible outcomes, such as proceeding, revising the plan, or terminating the agreement. Its core function is to provide a structured opportunity for assessment and alignment early in the process, thereby reducing uncertainty and enabling informed decision-making before significant resources are committed.
The First Decision Point. On or before the First Decision Point, ▇▇▇▇▇▇▇▇ shall determine in its sole discretion whether it desires to continue participating in the development and commercialization of the Female Product(s). In the event that ▇▇▇▇▇▇▇▇ determines on or before the First Decision Point not to continue participating in such development and commercialization, ▇▇▇▇▇▇▇▇ shall terminate this Agreement pursuant to Section 10.4(d). In the event that ▇▇▇▇▇▇▇▇ fails to terminate this Agreement pursuant to Section 10.4(d), ▇▇▇▇▇▇▇▇ shall be deemed to have elected to continue participating in such development and commercialization and ▇▇▇▇▇▇▇▇ shall make the First Development Completion Payment to Palomar pursuant to Section 6.1(d)(i) on or before the First Development Completion Payment Date.