Secondary Disease Final GO/NO-GO Election Sample Clauses

Secondary Disease Final GO/NO-GO Election. On or before the date that is ninety (90) days after TILLOTTS receives the final report from the Phase III trial in the Primary Disease Indication (the “Secondary Disease Final Election Date”), TILLOTTS must provide CPP written notice that TILLOTTS shall either (i) continue to perform the already-agreed Secondary Disease Development Plan or that it has agreed to and will perform a Secondary Disease Development Plan as set forth above (the “Secondary Disease “GO” Notice”), or (ii) cease all work under the already-agreed Secondary Disease Development Plan (if any) and transfer all rights in the Secondary Indication Disease back to CPP (the “Secondary Disease “NO GO” Notice”). If TILLOTTS delivers a Secondary Disease GO Notice and if CPP has developed a Licensed Formulation in the Secondary Indication Disease during the term of this Agreement at CPP’s cost, then TILLOTTS shall, within thirty (30) days after the delivery of the Secondary Disease GO Notice, reimburse CPP its development costs incurred during such period that are not otherwise incurred under the Initial Development Plan and reasonably documented by CPP, plus a mxxx-up of either twenty percent (20%) if TILLOTTS agreed to and began performing a Secondary Disease Development Plan on or before ninety (90) days after the Secondary Disease Interim Election Date, or a mxxx-up of fifty percent (50%) if TILLOTTS agreed to and began performing a Secondary Disease Development Plan thereafter, provided, however, that costs for such clinical trials used for registration in both Europe and the United States will be reimbursed at fifty percent (50%) of such amounts. If TILLOTTS does not deliver a timely Secondary Disease GO Notice or if TILLOTTS delivers a Secondary Disease NO-GO Notice, then, effective on the Secondary Disease Final Election Date, (1) the Secondary Indication Disease shall automatically be excluded from the Licensed Field and CPP may, in its sole discretion, develop and commercialize Licensed Formulations in the Secondary Indication Disease in the Licensed Territory, and (2) TILLOTTS shall promptly transfer and assign to CPP all data, information and regulatory approvals owned or controlled by TILLOTTS that were generated under the Secondary Disease Development Plan; provided, however, that if CPP’s Licensed Formulation is an Interchangeable Formulation, then CPP’s sales in the Secondary Indication Disease in the Licensed Territory shall be subject to payment to TILLOTTS of a royalty on such ...
Sample 1
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Related to Secondary Disease Final GO/NO-GO Election

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