Common use of - Phase A Term Clause in Contracts

- Phase A Term. The term of Phase A shall be from the Effective date until the earlier of (a) the date on which ADOLOR delivers to ▇▇▇▇▇▇▇ notice of ADOLOR's completing studies sufficient to establish the therapeutic index of the Compound and of whether ADOLOR intends to initiate Phase B and (b) July 31, 1999. The parties acknowledge that there are areas of risk to ADOLOR's ability to meet this timetable including: . the risk that the pharmaceutical composition of the Compound or Product provided by ▇▇▇▇▇▇▇ be insufficient in quality or quantity to conduct the studies necessary to establish the therapeutic index; and . the risk that the FDA will suspend or place on hold any activity pursuant to the IND for the Compound. The parties further acknowledge that the above exemplified risks, should they become realities, would provide cause for the July 31, 1999 term expiration date to be extended. Should an event outside of ADOLOR's control give rise to a reasonable basis to extend the July 31, 1999 term expiration date, meaning that it is reasonable to expect that ADOLOR acting with commercially reasonable diligence shall not have completed studies to establish the therapeutic index of the Compound by July 31, 1999, an extension of time will be provided to enable ADOLOR to complete the studies and the parties shall negotiate in good faith and arrive at a reasonable period of extension.

- Phase A Term. The term of Phase A shall be from the Effective date until the earlier of (a) the date on which ADOLOR delivers to ▇▇▇▇▇▇▇ notice of ADOLOR's ’s completing studies sufficient to establish the therapeutic index of the Compound and of whether ADOLOR intends to initiate Phase B and (b) July 31, 1999. The parties acknowledge that there are areas of risk to ADOLOR's ’s ability to meet this timetable including: . · the risk that the pharmaceutical composition of the Compound or Product provided by ▇▇▇▇▇▇▇ be insufficient in quality or quantity to conduct the studies necessary to establish the therapeutic index; and . · the risk that the FDA will suspend or place on hold any activity pursuant to the IND for the Compound. The parties further acknowledge that the above exemplified risks, should they become realities, would provide cause for the July 31, 1999 term expiration date to be extended. Should an event outside of ADOLOR's ’s control give rise to a reasonable basis to extend the July 31, 1999 term expiration date, meaning that it is reasonable to expect that ADOLOR acting with commercially reasonable diligence shall not have completed studies to establish the therapeutic index of the Compound by July 31, 1999, an extension of time will be provided to enable ADOLOR to complete the studies and the parties shall negotiate in good faith and arrive at a reasonable period of extension.

- Phase A Term. The term of Phase A shall be from the Effective date until the earlier of (a) the date on which ADOLOR delivers to ▇▇▇▇▇▇▇ notice of ADOLOR's ’s completing studies sufficient to establish the therapeutic index of the Compound and of whether ADOLOR intends to initiate Phase B and (b) July 31, 1999. The parties acknowledge that there are areas of risk to ADOLOR's ’s ability to meet this timetable including: . • the risk that the pharmaceutical composition of the Compound or Product provided by ▇▇▇▇▇▇▇ be insufficient in quality or quantity to conduct the studies necessary to establish the therapeutic index; and . • the risk that the FDA will suspend or place on hold any activity pursuant to the IND for the Compound. The parties further acknowledge that the above exemplified risks, should they become realities, would provide cause for the July 31, 1999 term expiration date to be extended. Should an event outside of ADOLOR's ’s control give rise to a reasonable basis to extend the July 31, 1999 term expiration date, meaning that it is reasonable to expect that ADOLOR acting with commercially reasonable diligence shall not have completed studies to establish the therapeutic index of the Compound by July 31, 1999, an extension of time will be provided to enable ADOLOR to complete the studies and the parties shall negotiate in good faith and arrive at a reasonable period of extension.