Research Year definition

Research Year means each twelve (12) month period during the Research Term, with the first Research Year beginning on the Effective Date.

Research Year means a twelve-month period during the term of the Program. The first Research Year shall be deemed to have commenced on the Effective Date.

Research Year means a twelve-month period during the term of the Research Program commencing on May 1, and ending on April 30 of each year. The first Research Year hereunder shall be deemed to have commenced on May 1, 2000.

Examples of Research Year in a sentence

• At least three (3) months prior to the beginning of any extension of the Research Term, the JRC shall determine the number of Ambrx FTEs to be provided and funded by BMS to perform the Research Program during such Research Year of the Research Term, provided that if the JRC is unable to reach consensus, BMS shall have final decision making authority with respect to the number of BMS funded Ambrx FTEs, subject to Section 3.3 and this Section 3.4.

• Subject to Section 3.4(b), BMS will fund at the FTE Rate, and Ambrx will provide the number of Ambrx FTEs per Research Year during the Research Term to perform activities in support of the Research Program, in accordance with the then-current Research Plan, and in accordance with this Section 3.4. Throughout the Research Term, Ambrx shall assign no less than the number of qualified scientist FTEs in accordance with this Section 3.4 to perform the work set forth in the then-applicable Research Plan.

• If the average FTE level for any Research Year is less than the level specified below for that year (the difference being referred to in this section as an "FTE Shortfall"), then the amount of funding specified below for that Research Year shall be reduced by an amount (the "FTE Shortfall Amount") which bears the same relation to the total funding specified below for that Research Year as the FTE Shortfall bears to the projected FTE Level for that Year.

• Notwithstanding the foregoing, the FTE Shortfall Amount will not be applied to compensate VERTEX on account of more than 20 Excess FTE's in any one Research Year.

• In any such subsequent Research Year, VERTEX shall be entitled to receive out of any remaining FTE Shortfall Amount a payment equal to the value (computed with reference to the inflation-adjusted FTE rate specified above) of any FTE's actually employed during that Research Year in excess of the FTE Level specified for that year ("Excess FTE's").

More Definitions of Research Year

Research Year means a twelve (12) month period during the term of a Research Program commencing on October 1 of a given year, and ending on September 30 of the following year. The first Research Year hereunder shall be deemed to have commenced on October 1, 2003.

Research Year means each twelve-month period during the Research Program with the first Research Year beginning May 1, 1997.

Research Year means each 12 month period during the Research Term, with the first Research Year beginning on the Effective Date.

Research Year means each twelve (12) month period during the term of the Collaboration beginning on the Effective Date.

Research Year means a twelve-month period during the term of the Research Program commencing on January 1 and ending on December 31. The first Research Year hereunder shall be deemed to have commenced on January 1, 1998.

Research Year means, as applicable, (i) the period beginning on January 1, 2015 and ending on February 28, 2015, or (ii) thereafter, each period beginning on March 1 of a year and ending on the last calendar day of February of the immediately following year.

Research Year means each twelve (12) month period outlined in Exhibit A attached hereto.