Extension Payment. If OV and/or its Affiliates or sublicensees have not achieved Successful Completion of the first Phase 2 Clinical Trial of the Product prior to the fourth (4th) anniversary of the Effective Date, then, in OV’s sole discretion, it may notify Eisai of its intention to continue Development activities of the Compound. In the event that Eisai and OV mutually agree to such continued Development activities by OV, OV shall pay a one-time payment to Eisai of [***] (the “Extension Payment”) on the fourth (4th) anniversary of the Effective Date.
Appears in 2 contracts
Sources: Exclusive License Agreement (Allarity Therapeutics, Inc.), Exclusive License Agreement (Allarity Therapeutics, Inc.)