Common use of Research Plan; Progress Reports Clause in Contracts

Research Plan; Progress Reports. (a) Chiva shall develop a research plan detailing the work it will perform and associated timelines to Develop Licensed Products and to obtain Regulatory Approval and sell Licensed Products (the “Research Plan”). Chiva will provide a copy of the Research Plan to Ligand within [* * *] and any updates as these become available from time to time. *** 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. (b) By [* * *] and [* * *] of each year, Chiva shall submit a written report to Ligand covering the preceding [* * *] period. Each report will describe: Chiva’s progress in accordance with the Research Plan and towards commercialization of Licensed Products, including work completed, key scientific discoveries, summary of work-in-progress, current schedules or anticipated events or milestones, market plans for introduction of Licensed Product, and significant corporate transaction(s) involving Licensed Products. Chiva shall also provide to Ligand copies of any reports received from its sublicensees, within [* * *] of receipt.