Sanofis Obligations Sample Clauses
Sanofis Obligations. Following the discontinuation of the JRC pursuant to Section 3.5, Sanofi shall provide to Adagene written reports on [***] basis regarding its significant Development (including receipts of Regulatory Approval) activities with respect to Licensed Products for each Collaboration Target in the Territory. Each such written report shall summarize in reasonable detail Sanofi’s, its Affiliates’, and Sublicensees’ significant Development activities, and the progress made with respect to the Development and Regulatory Approval of Licensed Products in the Territory, and shall contain relevant information at a level of detail reasonably required by Adagene to determine whether Sanofi is in compliance with its diligence obligations set forth herein.
Sanofis Obligations. In consideration for IDM’s release and waiver of action under Article 4 below, and subject to the performance in full by IDM of its obligations pursuant to Article 2.2:
2.1.1 Sanofi grants to IDM a lump sum of 5,217,185 Euros (excluding VAT) payable at the Effective Date of this Settlement Agreement by cheque or standing order to the order of IDM SA, corresponding to :
(i) payment of invoice in relation to services for Q1 2008 for an amount of 1,600,000 Euros,
(ii) payment of a final amount of 3,617,185 Euros.
2.1.2 Sanofi releases and discharges IDM from all its obligations under the Uvidem Development Program. Sanofi acknowledges that under the 2001 Agreement, IDM is under no obligation to carry out any new Developments Programs or develop any new Product.
2.1.3 The 2001 Agreement remains in full force and effect except the provisions of article 5.10 of the 2001 Agreement related to the right of first refusal granted by IDM to Sanofi with regard to the Uvidem Development Program.
Sanofis Obligations