Development Obligation. Licensee commits to develop and open for business within: (a) at least 4 of the Facilities listed on schedule 1.2 by December 31, 2019; and (b) beginning in the month of January 2020, at least 2 additional Facilities listed on schedule 1.2 per calendar month until all of the Facilities listed on schedule 1.2 have opened for business (the foregoing obligation, the “Development Obligation”). In the event that Licensee fails to meet the Development Schedule (regardless of the month in which such noncompliance with the Development Schedule occurs), the Initial Licenses which Licensee has developed and opened for business shall remain unaffected; however, Licensee shall lose the right to develop the remaining Initial Licenses and Licensor shall, within such Facilities, have the right to provide (or contract with a third party to provide) services which may be competitive with Licensee’s services.
Development Obligation. (a) After the Effective Date, BI shall use its [ * ] and shall accept the corresponding responsibility, at its sole cost and expense, for the development, safety of, and all required periodic reporting to Competent Authorities required to obtain all regulatory approvals for, the Licensed Product(s) for the Field in the Major Market countries.
Development Obligation. Developer shall be responsible for performance of the covenants set forth herein. Unless as otherwise amended within this agreement, the Developer shall be responsible for performance of all requirements in this agreement.
Development Obligation. In partial consideration for the license granted to Provention under Article 6 of this agreement, Provention (at its own expense) will complete a single Pxxxx 0x xxxxx-xx-xxxxxxxxx (XxX) and proof-of-concept (PoC) clinical trial (the “Study”) of a Product in Crohn’s Disease. The Study design will be developed and agreed upon by Jxxxxxx and Provention, according to the plan shown in Schedule 1 (the “Transition Plan”) as well as the Preliminary Clinical Plans attached at Schedule 2. Schedule 1 and Schedule 2 may be modified by mutual written agreement of the Parties. The clinical trial preparations will commence upon receipt of all information and materials supplied under the Transition Plan and the Study shall be designed and implemented to follow the agreed-upon Study design and to conclude within thirty-six (36) months after commencement. Failure to initiate or conclude the Study shall be grounds for Jxxxxxx to terminate this agreement. The Parties may agree to delay completion of the Study, for instance in the event of circumstances that are outside of Provention’s reasonable commercial control (such as a regulatory hold). Notwithstanding the foregoing, shall be entitled to an additional three (3) month period in which to complete the Study in the event the conclusion of the Study is delayed by circumstances beyond its control.
Development Obligation. Licensee commits to develop and open for business within (a) at least 4 of the Facilities listed on schedule 1.2 by March 31, 2020, with such 4 Facilities to be identified to Licensor by December 31, 2019, which date shall also be considered the Grant Date for such 4 Facilities; (b) at least 6 additional Facilities listed on schedule 1.2 by June 30, 2020, with such 6 Facilities to be identified to Licensor by March 31, 2020, which date shall also be considered the Grant Date for such 4 Facilities; (c) at least 6 additional Facilities listed on schedule 1.2 by September 30, 2020, with such 6 Facilities to be identified to Licensor by June 30, 2020, which date shall also be considered the Grant Date for such 6 Facilities; and (d) the remaining single Facility listed on schedule 1.2 by December 31, 2020, with such Facility to be identified to Licensor by September 30, 2020, which date shall also be considered the Grant Date for such Facility (the foregoing obligation, the “Development Obligation”), it being understood and agreed that Licensee may satisfy the Development Obligation in advance of the dates set forth herein if Licensee develops and opens for business at a faster pace than the time periods allotted herein. In the event that Licensee fails to meet the Development Obligation (regardless of the month in which such noncompliance with the Development Obligation occurs), the Initial Licenses which Licensee has developed and opened for business shall remain unaffected; however, Licensee shall lose the right to develop the remaining Initial Licenses and Licensor shall, within such Facilities, have the right to provide (or contract with a third party to provide) services which may be competitive with Licensee’s services. For the avoidance of doubt, Licensee may, upon mutual agreement by the Parties and the execution of an LMA for each license, develop and open for business within Licensor facilities that are not listed on Schedule 1.2; however, such licenses shall not count toward the Development Obligation unless such license is a substitute for an Initial License that is no longer available to Licensee due to an issue with a Facility Owner or other cause beyond Licensee’s control.”
Development Obligation. Developer has committed, and hereby confirms its agreement, to submit applications for site plans and/or building permits for not less than a total of 100,000 square feet of commercial and non-residential uses and not less than a total of 200 residential units within The Northline PUD on or before the expiration of five (5) years after the effective date of the future approved Developer TIRZ Agreement (as defined below), and for not less than a total of 200,000 square feet of commercial and non-residential uses and not less than a total of 400 residential units within The Northline PUD on or before the expiration of eight (8) years after the effective date of the future approved Developer TIRZ Agreement. In addition to the other requirements set forth under the Agreement, Developer will not be eligible to receive any additional TIRZ reimbursements, which are not covered by this Agreement, if the above requirements are not met.
Development Obligation. Lessee shall have no obligation to drill or produce any specific number of xxxxx pursuant to this Agreement, it being understood that any and all covenants, express or implied, to develop the Premises are hereby waived. If, at the expiration of the Primary Term, there are producing xxxxx located anywhere on the Premises, Lessee shall have the right to continue to produce such xxxxx for as long thereafter as such xxxxx shall produce in paying quantities, but this Agreement otherwise shall expire as to the remaining undeveloped portions of the Premises. Not later than thirty (30) days following the expiration of the Primary Term, Lessee shall execute and deliver to Lessor’s Agent an instrument of release and surrender of the undeveloped portions of the Premises, which instrument shall identify each well, and the productive area around such well, which Lessee shall continue to have the right to exclusively produce. Each well held by production after the expiration of the Primary Term shall hold such productive area around such well as Lessee’s engineer shall reasonably specify, giving due regard to all relevant factors, or such lesser or greater area as Lessor’s Agent and Lessee may otherwise agree.
Development Obligation. Subject to the limitations and other provisions set forth in this Section 3.1, the Parties intend that during the Term, Cubist shall continue to develop Licensed Products by conducting the Core Trials to support Regulatory Approval of Core IV Products in the United States. Additionally, subject to the limitations and other provisions set forth in this
Development Obligation. Subject to the limitations and other provisions set forth in this Section 3.1, the Parties intend that during the Term, Cubist shall continue to develop Licensed Products by conducting the Core Trials to support Regulatory Approval of Core IV Products in the United States. Additionally, subject to the limitations and other provisions set forth in this Section 3.1, Cubist shall use Commercially Reasonable Efforts to conduct (A) a [ ]* for the treatment of [ ]*; (B) a [ ]* for the treatment of [ ]*; (C) [ ]* in such territories and for such indications [ ]*, having reasonably [ ]* of the Development Subcommittee; and (D) such additional clinical trials and preclinical studies for the IV Product and such additional formulations of Licensed Products as Cubist determines to conduct, [ ]* having reasonably [ ]* that the Development Subcommittee may make.
Development Obligation. (a) Within each Development Period specified in Exhibit B, Franchisee shall construct, equip, open and thereafter continue to operate \ within the Development Area, not less than the cumulative number of Traditional Restaurants required by the Development Obligation for that Development Period.
