Common use of Excused Performance Clause in Contracts

Excused Performance. In addition to the provisions of Article 6 hereof, the obligations of MERCK with respect to any Product under Section 3.5 are expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or efficacy of the Product, and the obligation of MERCK to develop or market any such Product shall be delayed or suspended so long as in MERCK’s opinion any such condition or event exists.

Appears in 2 contracts

Samples: License and Research Collaboration Agreement (Aveo Pharmaceuticals Inc), License and Research Collaboration Agreement (Aveo Pharmaceuticals Inc)

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Excused Performance. In addition to the provisions of Article 6 Section 10.1 hereof, the obligations of MERCK with respect to any Product under Section 3.5 2.3.2 are expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or efficacy of the Product, and the obligation of MERCK to develop or market any such Product shall be delayed or suspended so long as in MERCK’s 's opinion any such condition or event exists. All judgments as to safety and efficacy shall be made by MERCK in its sole discretion.

Appears in 2 contracts

Samples: Development and License Agreement (Isis Pharmaceuticals Inc), Development and License Agreement (Isis Pharmaceuticals Inc)

Excused Performance. In addition to the provisions of Article 6 7 hereof, the obligations obligation of MERCK with respect to any Product or Test under Section 3.5 3.4 are expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or efficacy of the ProductProduct or Test, and the obligation of MERCK to develop or market any such Product or Test shall be delayed or suspended so long as in MERCK’s 's opinion any such condition or event exists.

Appears in 1 contract

Samples: License and Research Collaboration Agreement (Decode Genetics Inc)

Excused Performance. In addition to the provisions of Article 6 hereof6, the obligations of MERCK Merck with respect to any Product under Article 2 and Section 3.5 are expressly conditioned upon the continuing absence of any material adverse condition or event relating to the safety or efficacy of the Product, and the obligation of MERCK Merck to develop or market any such Product shall be delayed or suspended so long as in MERCKMerck’s opinion any such condition or event exists.

Appears in 1 contract

Samples: Exclusive License and Research Collaboration Agreement (Surmodics Inc)

Excused Performance. In addition to the provisions of Article 6 hereof6, the obligations of MERCK Merck with respect to any Product under Section 3.5 3.4 are expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or efficacy of the Product, and the obligation of MERCK Merck to develop or market any such Product shall be delayed or suspended so long as in MERCK’s Merck's opinion any such condition or event exists.

Appears in 1 contract

Samples: And License Agreement (Nastech Pharmaceutical Co Inc)

Excused Performance. In addition to the provisions of Article 6 Section 9.1 hereof, the obligations obligation of MERCK with respect to any Product under Section 3.5 3.3 are expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or efficacy of the Product, and the obligation of MERCK to develop or market any such Product shall be delayed or suspended so long as in MERCK’s 's opinion any such condition or event exists.

Appears in 1 contract

Samples: Research Collaboration and License Agreement (Neogenesis Pharmaceuticals Inc)

Excused Performance. In addition to the provisions of Article 6 hereof, the obligations The obligation of MERCK with respect to any Product under Section 3.5 2.5 are expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or efficacy of the Product[ * ], and the obligation of MERCK to develop or market any such Product shall be delayed or suspended so long as in MERCK’s opinion any such condition or event exists[ * ].

Appears in 1 contract

Samples: Exclusive License Agreement (Exelixis Inc)

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Excused Performance. In addition to the provisions of Article 6 hereof6, the obligations of MERCK Merck with respect to any Product under Section 3.5 3.6 are expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or efficacy of the Product, and the obligation of MERCK Merck to develop or market any such Product shall be delayed or suspended so long as in MERCKMerck’s opinion any such condition or event exists.

Appears in 1 contract

Samples: Exclusive License and Research Collaboration Agreement (Proteostasis Therapeutics, Inc.)

Excused Performance. In addition to the provisions The obligation of Article 6 hereof, the obligations of MERCK Merck with respect to any Product under Section 3.5 are 3.7 is expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or efficacy of the Product, and the obligation of MERCK Merck to develop or market commercialize any such Product shall be delayed or suspended so long as in MERCKMerck’s reasonable opinion any such condition or event exists.

Appears in 1 contract

Samples: Collaboration and License Agreement (Bionomics Limited/Fi)

Excused Performance. In addition to the provisions of Article 6 7 hereof, the obligations obligation of MERCK Merck with respect to any Product under Section 3.5 4.2.3 are expressly conditioned upon the continuing absence of any adverse condition or event relating to the safety or efficacy of the Product, and the obligation of MERCK Merck to develop or market any such Product shall be delayed or suspended so long as in MERCK’s Merck's opinion any such condition or event exists.

Appears in 1 contract

Samples: Research Collaboration and License Agreement (Decode Genetics Inc)

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