Common use of Project Stages Clause in Contracts

Project Stages. At the completion of each Stage, except in the event that this Agreement is otherwise terminated as permitted herein, the Parties shall mutually agree whether to (i) proceed with the Project; (ii) conduct further development work under the then current Stage in addition to those activities described in the Project for the then current Stage; or (iii) terminate this Agreement. In the event that the Parties cannot agree on (i), (ii) or (iii) above, the Parties shall organize representatives with technical and executive decision making authority to meet in good faith and attempt to mutually agree on (i), (ii) or (iii). If the Parties are unable to reach agreement at any Stage within ninety (90) days of initiating discussions, then either Party shall [***].

Project Stages. At the completion of each StageeachStage, except in the event that this Agreement is otherwise terminated as permitted herein, the Parties shall mutually agree whether to (i) proceed with the Project; (ii) conduct further development work under the then current Stage in addition to those activities described in the Project for the then current Stage; or (iii) terminate this Agreement. In the event event, that the Parties cannot agree on (i), (ii) or (iii) above, the Parties shall organize representatives with technical and executive decision making authority authority, to meet in good faith and attempt to mutually agree on (i), (ii) or (iii). If the Parties are unable to reach agreement at any Stage within ninety (90) days of initiating discussions, then either Party shall [***].