By LRE Clause Samples

By LRE. During the development phase LRE may terminate the agreement only (i) under paragraph 10.3, or (ii) upon 30 days prior written notice to BIOSITE, if the parties mutually determine in the course of one of the development phases that the intended result of the development cannot be achieved or, for reasons beyond the reasonable control of LRE, can only be achieved at expenditure by LRE, significantly in excess of the costs described in paragraphs 2.1 to 2.4, for which BIOSITE is unwilling to reimburse LRE after notice thereof. If LRE terminates the agreement in the development phase, under paragraph 10.3, BIOSITE shall have no rights or license to use or disclose the Joint Technology. If LRE terminates the agreement during the development phase under paragraph 2.5(b)(ii), then BIOSITE shall have the exclusive right to use and disclose the Joint Technology.