assessment period definition
Examples of assessment period in a sentence
Prior to expiration of the Assessment Period for the applicable HemOnc Product, Jazz may provide Pfenex with written notice that Jazz elects to terminate its license hereunder with respect to such HemOnc Product (with respect to such HemOnc Product, the “Declination Notice”).
After the expiration of the applicable Assessment Period, Jazz shall use Commercially Reasonable Efforts to Develop the HemOnc Products for the Lead Indication in the United States and to achieve the Development milestones numbered 5 and 6 referenced in Exhibit 6.3 that specifically relate to the Lead Indication in the United States.
Notwithstanding the foregoing, during the applicable Assessment Period, Jazz shall only be obligated to share with Pfenex a high level plan for its activities with respect to such HemOnc Product during such time period.
Further, if Pfenex elects not to license the Jazz HemOnc-Pf Data and the termination of HemOnc-Pf occurs after commencement of the Assessment Period for HemOnc-Pf but before the earlier of (A) twelve (12) months after the expiration of such Assessment Period or (B) payment of milestone 3 in Exhibit 6.3 for HemOnc-Pf, then Jazz shall pay to Pfenex the amount of [***] within thirty (30) days following notice of such election by Pfenex.
Upon any notice of termination of HemOnc-Pf delivered following the expiration of the Assessment Period for HemOnc-Pf, Jazz shall have the obligations under this Section 11.4(a)(ii).