Common use of Research Agreement Clause in Contracts

Research Agreement. In areas where ICAgen has demonstrated that it has proprietary technology, Lilly and ICAgen will negotiate in good faith (during the two (2) year period commencing on the first anniversary of the date of this Agreement or such longer period as may be determined by the Joint Committee) to reach agreement on a mutually acceptable research and development collaboration in a narrowly defined area. The parties agree that either party or the Joint Committee may initiate negotiations, if appropriate, as provided for in this Section. The failure of the parties to agree upon a mutually acceptable research agreement shall not be subject to binding arbitration pursuant to Section 12.14.