Common use of Termination by Elixir Clause in Contracts

Termination by Elixir. Notwithstanding the stipulation in Section 16.1, Elixir may terminate this Agreement upon the occurrence of any of the following itemized events: (a) for scientific or commercial reasons, upon one hundred and eighty (180) days’ prior written notice to Kissei before obtaining the Marketing Approval or upon thirty (30) days’ prior written notice to Kissei after the Marketing Approval has been obtained, in case that Competent Authorities mandate that the sale in any country of the Territory shall be discontinued due to severe adverse events concerning the Product which should be recalled from the market; (b) upon thirty (30) days’ prior written notice to Kissei, if *.

Termination by Elixir. Notwithstanding the stipulation in Section 16.1, Elixir may terminate this Agreement upon the occurrence of any of the following itemized events: (a) for scientific or commercial reasons, upon one hundred and eighty (180) days’ prior written notice to Kissei before obtaining the Marketing Approval or upon thirty (30) days’ prior written notice to Kissei after the Marketing Approval has been obtained, in case that Competent Authorities mandate that the sale in any country of the Territory shall be discontinued due to severe adverse events concerning the Product which should be recalled from the market; (b) upon thirty (30) days’ prior written notice to Kissei, if *Kissei withholds its consent pursuant to Section 6.2 or 10.3(f) for Elixir to perform any Toxicological Studies that are required or in the reasonable opinion of Elixir strongly recommended by the FDA or any other Competent Authority.