Conditional Split. Without prejudice to Section 12.3.5 and without limiting the Parties’ respective rights hereunder, within [***] of the Effective Date, the Parties shall agree on and shall implement a mechanism ensuring Servier’s continued license under Pieris IP to the extent this Agreement is terminated or rejected, including splitting this Agreement into two separate agreements: (i) an irrevocable license which a receiver cannot discontinue; and (ii) a collaboration agreement.
Appears in 2 contracts
Sources: License and Collaboration Agreement (Pieris Pharmaceuticals, Inc.), License and Collaboration Agreement (Pieris Pharmaceuticals, Inc.)