Common use of Inventory Transfer Clause in Contracts

Inventory Transfer. As soon as reasonably practicable following the Effective Date (but in all cases within thirty (30) days after Chimerix’s receipt of the upfront payment pursuant to Section 5.1), Chimerix shall transfer and deliver to Merck (at a location to be specified by Merck to Chimerix), at no additional cost, all inventory of Compound and Product (including inventory of cGMP and non-cGMP bulk Compound as well as bulk Product) held by or on behalf of Chimerix or any of its Affiliates (including any such inventory held at any contract manufacturer) (the “Inventory”). The quantity of such Inventory shall be at a minimum, the quantities as set forth on Schedule 3.2, which schedule shall be broken down by cGMP and non-cGMP bulk Compound as well as by cGMP and non-cGMP bulk Product.