Common use of Research Term Clause in Contracts

Research Term. The term of the Research Program (the "Research Term") shall begin on the Effective Date and shall continue until *** (the "Initial Term"), subject to extension as described below. At Wyeth's option (exercisable by providing written notice to Trubion no later than *** prior to the end of the Initial Term of the Research Program or any extension year thereof), the Research Term may be extended for up to *** additional *** periods and, thereafter, shall be renewable annually only upon mutual written agreement of the Parties.

Research Term. The term of the Research Program (the "Research Term") shall begin on the Effective Date and shall continue until [*** *] (the "Initial Term"), subject to extension as described below. At Wyeth's option (exercisable by providing written notice to Trubion no later than [*** *] prior to the end of the Initial Term of the Research Program or any extension year thereof), the Research Term may be extended for up to [*** *] additional [*** *] periods and, thereafter, shall be renewable annually only upon mutual written agreement of the Parties.