OPTION FOR DISCOVERY OPTIMIZATION PROGRAM Sample Clauses

OPTION FOR DISCOVERY OPTIMIZATION PROGRAM. ArQule grants Sankyo the option to enter into a Discovery Optimization Program for up to two (2) Licensed Compound Sets at any time during the Research Period. Sankyo may exercise this option by furnishing ArQule with written notice to that effect, which notice must be received by ArQule during the Research Period. If Sankyo elects to exercise this option, Sankyo and ArQule will negotiate in good faith the terms and conditions of the program, including without limitation the payments and deliverables. If the Parties have not entered into a binding letter of agreement on the terms and conditions of the program within ninety (90) days after ArQule receives notice from Sankyo, then the option right shall expire and ArQule shall have no further obligation to enter into a Discovery Optimization Program with Sankyo for that Licensed Compound Set.
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OPTION FOR DISCOVERY OPTIMIZATION PROGRAM. ArQule grants Sankyo the option to enter into a Discovery Optimization Program for [*****] Licensed Compound Sets at any time during the Research Period. Sankyo may exercise this option by furnishing ArQule with written notice to that effect, which notice must be received by ArQule during the Research Period. If Sankyo elects to exercise this option, Sankyo and ArQule will negotiate in good faith the terms and conditions of the program, including without limitation the payments and deliverables. If the Parties have not entered into a binding letter of agreement on the terms and conditions of the program within [*****]after ArQule receives notice from Sankyo, then the option right shall expire and ArQule shall have no further obligation to enter into a Discovery Optimization Program with Sankyo for that Licensed Compound Set.
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Related to OPTION FOR DISCOVERY OPTIMIZATION PROGRAM

  • Development Program A. Development activities to be undertaken (Please break activities into subunits with the date of completion of major milestones) B. Estimated total development time

  • Development Plan document specifying the work program, schedule, and relevant investments required for the Development and the Production of a Discovery or set of Discoveries of Oil and Gas in the Contract Area, including its abandonment.

  • Commercialization Plan On a Product by Product basis, not later than sixty (60) days after the filing of the first application for Regulatory Approval of a Product in the Copromotion Territory, the MSC shall prepare and approve a rolling multiyear (not less than three (3) years) plan for Commercializing such Product in the Copromotion Territory (the "Copromotion Territory Commercialization Plan"), which plan includes a comprehensive market development, marketing, sales, supply and distribution strategy for such Product in the Copromotion Territory. The Copromotion Territory Commercialization Plan shall be updated by the MSC at least once each calendar year such that it addresses no less than the three (3) upcoming years. Not later than thirty (30) days after the filing of the first application for Regulatory Approval of a Product in the Copromotion Territory and thereafter on or before September 30 of each calendar year, the MSC shall prepare an annual commercialization plan and budget (the "Annual Commercialization Plan and Budget"), which plan is based on the then current Copromotion Territory Commercialization Plan and includes a comprehensive market development, marketing, sales, supply and distribution strategy, including an overall budget for anticipated marketing, promotion and sales efforts in the upcoming calendar year (the first such Annual Development Plan and Budget shall cover the remainder of the calendar year in which such Product is anticipated to be approved plus the first full calendar year thereafter). The Annual Commercialization Plan and Budget will specify which Target Markets and distribution channels each Party shall devote its respective Promotion efforts towards, the personnel and other resources to be devoted by each Party to such efforts, the number and positioning of Details to be performed by each Party, as well as market and sales forecasts and related operating expenses, for the Product in each country of the Copromotion Territory, and budgets for projected Pre-Marketing Expenses, Sales and Marketing Expenses and Post-Approval Research and Regulatory Expenses. In preparing and updating the Copromotion Territory Commercialization Plan and each Annual Commercialization Plan and Budget, the MSC will take into consideration factors such as market conditions, regulatory issues and competition.

  • Research Plan The Parties recognize that the Research Plan describes the collaborative research and development activities they will undertake and that interim research goals set forth in the Research Plan are good faith guidelines. Should events occur that require modification of these goals, then by mutual agreement the Parties can modify them through an amendment, according to Paragraph 13.6.

  • Training Program It is agreed that there shall be an Apprenticeship Training Program, the provisions of which are set forth in Exhibit "D", which is attached hereto and forms part of this Agreement.