ROFN Exercise. (a) With respect to each ROFN Target, subject to clause (b), AbbVie shall have the right to exercise the ROFN with respect to such ROFN Target at any time during the ROFN Period for such ROFN Target by giving Morphic written notice of such exercise (“ROFN Notice”). If AbbVie provides a ROFN Notice for a ROFN Target before the end of the ROFN Period for such ROFN Target, then the Parties shall negotiate in good faith an amendment to this Agreement to provide for the amount of the upfront license fee, milestones and royalties payable with respect to the Licensed Compounds Directed to such ROFN Target and corresponding Licensed Products or other consideration as may be mutually agreed by the Parties (the “ROFN Terms”) for a period of [***] (the “ROFN Negotiation Period”).
Appears in 4 contracts
Samples: Collaboration and Option Agreement (Morphic Holding, Inc.), Collaboration and Option Agreement (Morphic Holding, Inc.), Collaboration and Option Agreement (Morphic Holding, Inc.)
