Examples of Initial Licensed Program in a sentence
Subject to the provisions of Section 3.2.2(b), Section 3.2.2(c) and Section 3.2.2(d), if AGTC has exercised the Milestone/Royalty Option with respect to an Initial Licensed Program, Biogen shall thereafter be solely responsible for all Development Costs for such Initial Licensed Program.
In response to WEM’s opposition to including Diablo Canyon in the Resource Pools, PG&E states that “retirement of [Diablo Canyon] is out of scope for this Advice Letter.
Notwithstanding anything to the contrary, in the event that AGTC conducts any activities with respect to any Initial Licensed Program that are not in accordance with a Development Plan for such Initial Licensed Program and incurs excess Development Costs in connection therewith, Biogen shall have no obligation to reimburse AGTC for any such excess Development Costs.
In the event that AGTC fails to make an election with respect to such Initial Licensed Program during the applicable forty-five (45) day period, AGTC shall be deemed to have elected the Milestone/Royalty Option for such Initial Licensed Program.
There shall be no Development Plan (or corresponding Development Budget) for any Initial Licensed Program for which (a) AGTC is no longer conducting any Development activities and (b) AGTC has not exercised the Cost Share Option.
Subject to the provisions of Section 3.2.2(a), AGTC shall be solely responsible for the payment of all Development Costs associated with the Pre-Funded Activities conducted by either Party for each Initial Licensed Program in accordance with the applicable Development Plan.
The initial Development Budget for each Initial Licensed Program is set forth in the initial Development Plans attached hereto as Exhibit A-1 and Exhibit A-2, respectively.
If AGTC exercises the Cost Share Option as set forth in Section 6.2.2 for an Initial Licensed Program, then effective immediately on the date that AGTC exercises the Cost Share Option in accordance with Section 6.2.2, Biogen and AGTC shall equally share in Operating Profits or Losses for Initial Licensed Products arising under such Initial Licensed Program (each, a “Cost Share Product”) in the Territory as provided in Exhibit C.
If any Initial Licensed Program is terminated prior to completion of all Pre-Funded Activities for such Initial Licensed Program, then any R&D Pre-Funding for Pre-Funded Activities under such Initial Licensed Program that have not yet been undertaken shall be allocated toward Development Costs payable by Biogen for other Collaboration Programs.
For the avoidance of doubt, the provisions of this Section 3.2.2(a)(iii) shall apply in the case of either (a) AGTC’s election of the Milestone/Royalty Option under Section 6.2.2 for such Initial Licensed Program or (b) AGTC’s election of the Cost Share Option under Section 6.2.2 for such Initial Licensed Program.