Phase 2. The Global Fund may decide, in its sole discretion, to extend the Program Term beyond the Phase 1 Ending Date and commit funding for Phase 2 of the Program (a “Phase 2 Approval”). If the Global Fund issues a Phase 2 Approval, the parties shall execute an amendment to this Agreement and the “Program Term” shall be extended to the Phase 2 Ending Date (indicated in block 7 the face sheet of this Agreement) or any other date specified by the Global Fund in its Phase 2 Approval.
Phase 2. That portion of the clean room within the Facility, the process capability of which was contemplated by the Parties in the Phase 2 TAA, to be sufficient to manufacture approximately [ * ] under the provisions of the Phase 2 TAA, and which, as currently contemplated by the Parties, will be sufficient to manufacture approximately [ * ] under the provisions of the Phase 2 TAA. * Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
Phase 2. The second phase of the Training ("Phase 2") shall be ------- provided for up to three (3) Trainees who have mastered the skills taught in Phase 1, will last for up to two (2) weeks, and may be conducted with trainees from other countries. Phase 2 will commence within ninety (90) calendar days after the end of Phase 1. Phase 2 shall cover the following topics:
Phase 2. The Redeveloper shall have the right to terminate this Agreement due to unacceptable environmental conditions upon giving the Town written notice thereof on or before the expiration of the Phase 2 Environmental Due Diligence Period, in which event the Redeveloper shall have no obligation to proceed to the Phase 2 Closing and the Deposit shall be returned to the Redeveloper.
Phase 2. The Phase 2 Budget will include a contingency line item in an amount equal to ten percent (10%) of the budgeted amount plus an amount to cover cost escalation reasonably anticipated because of the phasing schedule. In the event that the actual Phase 2 Improvement costs exceed the amount set forth in the Phase 2 Budget approved in conjunction with Final Approval of Phase 1, after use of all of the contingency line item, then County and Developer shall each pay fifty percent (50%) of such excess costs until the Developer has paid a maximum aggregate amount of Five Hundred Thousand Dollars ($500,000.00); thereafter, County shall pay all Phase 2 Improvement excess costs up to the County’s Maximum Phase 2 Cost. Notwithstanding anything to the contrary herein, in no event shall the County’s share of the Phase 2 Improvement costs in the aggregate exceed the County’s Maximum Phase 2 Costs. Developer shall pay all of its fifty percent (50%) share of excess costs as specified above and any and all excess costs incurred in excess of the County’s Maximum Phase 2 Costs. To the extent that the Phase 2 Improvement costs exceed five percent (5%) of the Phase 2 Improvement costs identified in the Phase 2 Budget approved in conjunction with the Final Approval of Phase 1 or the County’s Maximum Phase 2 Cost, whichever is greater, plus the excess contribution of $500,000 identified herein, and Developer does not pay such additional costs within ten (10) business days of notice from the County, without reimbursement from the County, either party may in writing terminate this Agreement for cause. In the event that the actual Phase 2 Improvement costs are less than the amount set forth in the Phase 2 Budget approved in conjunction with the Final Approval of Phase 1 (excluding the amount in the contingency line item), then fifty percent (50%) of the amount of the savings compared to that Budget shall be paid to Developer as a bonus (“Phase 2 Savings Bonus”). In no event shall the Phase 2 Savings Bonus exceed the sum of Five Hundred Thousand Dollars ($500,000.00).
Phase 2. In the event that Phase 2 is triggered, ANADYS will provide research support for [...***...] ([...***...]) FTEs at SEQUOIA for twelve (12) months. The FTEs will work on research described in Sections 2.2.1, 2.2.2, 2.3.1, 2.3.2, 2.5 and 2.6.2. The funding rate will be $[...***...] per FTE per year. Any additional research requested by ANADYS during or after the first twelve months will also be funded at the rate of $[...***...] per FTE per year; provided, however, that if the twelve (12) month work period is extended to eighteen (18) months pursuant to either Section 2.2.2 or Section 2.3.1, such extension alone shall not be deemed a request for additional research and no additional research funding payments will be required by virtue of such extension.