Common use of Ongoing Programs Clause in Contracts

Ongoing Programs. The Parties acknowledge that Licensee is conducting Development activities with respect to the Ongoing Programs and Licensee may continue to conduct such Development activities after the Effective Date. For avoidance of doubt, the restrictions and guidelines in the Ongoing Program MTAs shall still apply with respect to the Ongoing Programs. Within [***] ([***]) [***] after the Effective Date Licensee shall notify Inhibrx if it desires to include any Ongoing Programs as New Programs and exercise the Option with respect to such New Program(s), and after such notification and Licensee’s receipt of Inhibrx Know-How in accordance with Section 2.5.1, Licensee shall pay to Inhibrx the Upfront Option Fee and Option Exercise Fee for each Ongoing Program that becomes a New Program. If Licensee does not include any Ongoing Programs as New Programs, then Licensee shall cease all Development activities with respect to the Ongoing Programs. For avoidance of doubt Ongoing Programs that do not become Program Targets become a Declined Program and each Ongoing Program that becomes a New Program counts toward the maximum number of New Programs as set forth in Section 2.3.1 (Generally).