Common use of Termination Effective Date Clause in Contracts

Termination Effective Date. that is the later of (i) the effective date of termination specified in such written notice of termination given by Biogen Idec pursuant to this Section 14.4 or (ii) the last [**] of the [**] following the date in which such written notice of termination is given by Biogen Idec pursuant to this Section 14.4, if on or prior to such Section 14.4 Termination Effective Date such Person has not divested such Directly Competitive Product, terminated Development and Commercialization of such Directly Competitive Product or assigned this Agreement pursuant to Section 16.5 to a Third Party that is not itself Developing or Commercializing a Directly Competitive Product.