R&D Program Termination Clause Samples
The R&D Program Termination clause defines the conditions and procedures under which a research and development program may be ended before its planned completion. Typically, this clause outlines the rights and obligations of each party in the event of termination, such as notice requirements, handling of ongoing work, and disposition of intellectual property or confidential information. Its core function is to provide a clear framework for winding down collaborative R&D efforts, thereby minimizing disputes and ensuring an orderly conclusion if the program is no longer viable or desired by one or both parties.
POPULAR SAMPLE Copied 1 times
R&D Program Termination. At the expiration of the R&D Term, (i) all R&D Programs will become “Discontinued Programs” (ii) all R&D Targets and R&D [***] Targets that are not Locked Targets will become Discontinued Targets and (iii) all Collaboration mRNA Constructs that are not in a Product Candidate Pool will become Discontinued mRNA Constructs. For the avoidance of doubt, upon the expiration of the R&D Term, [***].