Common use of Second Decision Point Clause in Contracts

Second Decision Point. In the event that, pursuant to Section 1.6(a), ▇▇▇▇▇▇▇▇ fails to terminate this Agreement in accordance with Section 10.4(d) on or before the First Decision Point, ▇▇▇▇▇▇▇▇ shall have the right to opt-out of the commercialization process for the First Female Product on or before the Second Decision Point. In the event that ▇▇▇▇▇▇▇▇ determines on or before the Second Decision Point to opt-out of the commercialization process, ▇▇▇▇▇▇▇▇ shall terminate this Agreement pursuant to Section 10.4(d). In the event that ▇▇▇▇▇▇▇▇ fails to terminate this Agreement pursuant to Section 10.4(d) on or before Second Decision Point, ▇▇▇▇▇▇▇▇ shall be deemed to have elected to continue commercializing Female Product(s) (such election, the “Launch Decision”), and ▇▇▇▇▇▇▇▇ shall make the Second Development Completion Payment to Palomar in the amount set forth in Section 6.1(d)(i) on or before the Second Development Completion Payment Date.

Second Decision Point. In the event that, pursuant to Section 1.6(a), ▇▇▇▇▇▇▇▇ fails to terminate this Agreement in accordance with Section 10.4(d) on or before the First Decision Point, ▇▇▇▇▇▇▇▇ shall have the right to opt-out of the commercialization process for the First Female Product on or before the Second Decision Point. In the event that ▇▇▇▇▇▇▇▇ determines on or before the Second Decision Point to opt-out of the commercialization process, ▇▇▇▇▇▇▇▇ shall terminate this Agreement pursuant to Section 10.4(d). In the event that ▇▇▇▇▇▇▇▇ fails to terminate this Agreement pursuant to Section 10.4(d) on or before Second Decision Point, ▇▇▇▇▇▇▇▇ shall be deemed to have elected to continue commercializing Female Product(s) (such election, the “Launch Decision”), and ▇▇▇▇▇▇▇▇ shall make the Second Development Completion Payment to Palomar in the amount set forth in Section 6.1(d)(i) on or before the Second Development Completion Payment Date.. ARTICLE III [Intentionally Omitted] ARTICLE IV License Grants 4.1

Second Decision Point. In the event that, pursuant to Section 1.6(a), ▇G▇▇▇▇▇▇▇ fails to terminate this Agreement in accordance with Section 10.4(d) on or before the First Decision Point, ▇G▇▇▇▇▇▇▇ shall have the right to opt-out of the commercialization process for the First Female Product on or before the Second Decision Point. In the event that ▇G▇▇▇▇▇▇▇ determines on or before the Second Decision Point to opt-out of the commercialization process, ▇G▇▇▇▇▇▇▇ shall terminate this Agreement pursuant to Section 10.4(d). In the event that ▇G▇▇▇▇▇▇▇ fails to terminate this Agreement pursuant to Section 10.4(d) on or before Second Decision Point, ▇G▇▇▇▇▇▇▇ shall be deemed to have elected to continue commercializing Female Product(s) (such election, the “Launch Decision”), and ▇G▇▇▇▇▇▇▇ shall make the Second Development Completion Payment to Palomar in the amount set forth in Section 6.1(d)(i) on or before the Second Development Completion Payment Date.