Common use of Exclusivity Period Clause in Contracts

Exclusivity Period. The initial exclusivity period will start on the date of this Agreement and will end on [**] (the “Initial Exclusivity Period”); provided that, during the Exclusivity Period, the Company will budget a minimum research budget (as set out in the Research Annual Budget from time to time) of, and spend a minimum amount of, at least [**] per calendar year on the conduct of Research to evaluate and develop Products and ▇▇▇▇▇▇▇▇▇ Compounds from the ▇▇▇▇▇▇▇▇▇ Library and with the use of ▇▇▇▇▇▇▇▇▇ Botanical R&D Platform. The Exclusivity Period will be [**] provided that the Company budgets a minimum research budget in the then applicable Research Annual Budget of, and spends an amount of, at least [**] in such calendar year on such Research.