Common use of Divestment Process Clause in Contracts

Divestment Process. Subject to (i) earlier termination of this Agreement by ADCT or Genmab pursuant to Section 3.3, Section 8.2 or Article 15, (ii) election by ADCT of the Grace Period pursuant to Section 9.2, or (iii) election of the right of first opportunity by Genmab pursuant to Section 9.4, a process shall be initiated to facilitate the divestment by license to rights to the ADC to a Third Party (“Divestment Process”). Subject to the foregoing, such Divestment Process shall be initiated as soon as possible after database lock for the Qualifying Phase I/II Clinical Trial (“Phase I/II Clinical Trial Completion”) and no later than [**] month after availability of results. Both Parties shall use Commercially Reasonable Efforts to cause the Divestment Process to be completed, as evidenced by an executed agreement with a Third Party, no later than [**] following engagement of the Third Party advisor pursuant to Section 9.6.2.