Common use of DESIGNATED COMPOUNDS Clause in Contracts

DESIGNATED COMPOUNDS. (a) Within [*] following the delivery of the Final Target Report for each Target by NeoGenesis in accordance with Section 2.4 and ATTACHMENT A, Mitsubishi shall notify NeoGenesis whether it will classify any Candidate Compound C (or any derivative compound(s) of such Candidate Compound C) as candidates for drug development based on Mitsubishi's good faith evaluation of the satisfaction of the Success Criteria by such Candidate Compound C (or any derivative compound(s) of such Candidate Compound C) (each, a DESIGNATED COMPOUND). Mitsubishi may select [*] Designated Compounds for each Target. If Mitsubishi does not identify any Designated Compound(s) within such period, then upon [*] notice from NeoGenesis and unless Mitsubishi identifies *= CONFIDENTIAL TREATMENT REQUESTED: MATERIAL HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. such Designated Compound(s) within such [*] period, the license granted Mitsubishi shall terminate and be of no further force or effect with respect to the applicable Target, and no further payment from Mitsubishi shall be due with respect to such Target. (b) Within [*] following receipt of notification from Mitsubishi identifying Designated Compounds, NeoGenesis shall amend ATTACHMENT D to identify any applicable NeoGenesis Patent Rights not previously identified to Mitsubishi.

DESIGNATED COMPOUNDS. (a) Within [*] following the delivery of the Final Target Report for each Target by NeoGenesis in accordance with Section 2.4 and ATTACHMENT A, Mitsubishi shall notify NeoGenesis whether it will classify any Candidate Compound C (or any derivative compound(s) of such Candidate Compound C) as candidates for drug development based on Mitsubishi's good faith evaluation of the satisfaction of the Success Criteria by such Candidate Compound C (or any derivative compound(s) of such Candidate Compound C) (each, a DESIGNATED COMPOUND). Mitsubishi may select [*] Designated Compounds for each Target. If Mitsubishi does not identify any Designated Compound(s) within such period, then upon [*] notice from NeoGenesis and unless Mitsubishi identifies ** = CONFIDENTIAL TREATMENT REQUESTED: MATERIAL HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. such Designated Compound(s) within such [*] period, the license granted Mitsubishi shall terminate and be of no further force or effect with respect to the applicable Target, and no further payment from Mitsubishi shall be due with respect to such Target. (b) Within [*] following receipt of notification from Mitsubishi identifying Designated Compounds, NeoGenesis shall amend ATTACHMENT D to identify any applicable NeoGenesis Patent Rights not previously identified to Mitsubishi.