Common use of COLLATERAL CONTRACTS Clause in Contracts

COLLATERAL CONTRACTS. From time to time the Corporation may wish to enter into contracts with third parties for the sole purpose of evaluating the technology of a third party or because the third party will not agree to contract with PPD for Designated Services or Designated Products, which contract may include performance of a Designated Service by the Corporation or delivery by the Corporation of a Designated Product (a "Collateral Contract"). The Corporation shall be permitted to enter into such Collateral Contracts in its name provided that (i) each such Collateral Contract is approved by PPD prior to its execution and (ii) subject to compliance with applicable confidentiality provisions, a copy of each fully executed Collateral Contract shall be provided to PPD in accordance with the notice provisions herein within seven (7) days after final execution of the Collateral Contract. In cases in which a third party indicates an unwillingness to contract with PPD for Designated Services or Designated Products, the Corporation shall use good faith efforts to have such third party contract with PPD and, if unsuccessful, to use good faith efforts to include a provision permitting disclosure of such Collateral Contract to PPD in confidentiality clauses between such third party and the Corporation.