Examples of Active candidate in a sentence
During the Term, LICENSEE will provide PFIZER with a written report sixty (60) days after the last day of each Calendar Year that includes a detailed written summary of all Development activities conducted by LICENSEE and its sublicensees with respect to the Products, including LICENSEE’s compliance with its obligation to maintain the Product as an Active Candidate pursuant to Section 4.1.1, progress with respect to the Development Milestones and expected timelines for future Development activities.
The Company may object to inclusion of any potential investors, lenders and acquisition candidates on such Active Candidate List, provided that, if the Company does not object in writing within three (3) business days of receipt of such Active Candidate List, the Company’s right to object shall be deemed waived.
If the Company closes an IP Monetization or an IP Auction with any entity on any Active Candidate List within nine (9) months of the termination of this Engagement, the Company shall be responsible for the payment of the fees under Section I of this Agreement.