Failure to Designate a Development Candidate. If, the Parties, through the JSC, do not designate at least one Development Candidate in accordance with Section 3.3.3(b) (Development Candidate Identification), and one Party (but not both Parties) desires to conduct additional Research Activities to identify additional Collaboration Compounds that meet the DC Criteria, then (i) such other Party will be deemed to have Opted-Out and will be the Opt-Out Party for all intents and purposes hereunder, and (ii) the effects of Opt-Out set forth in Section 11.2 (Effects of Opt-Out) shall apply.
Appears in 5 contracts
Sources: Collaboration and License Agreement (Odyssey Therapeutics, Inc.), Collaboration and License Agreement (Odyssey Therapeutics, Inc.), Collaboration and License Agreement (Odyssey Therapeutics, Inc.)