Collaboration Year definition

Collaboration Year means each twelve (12) month period ending on December 31; provided that: (a) the first Collaboration Year of the Term shall begin on the Effective Date and end on December 31, 2017; and (b) the last Collaboration Year of the Term shall end on the date of expiration or termination of this Agreement.

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Collaboration Year means the period of twelve consecutive months (divided into and composed of four quarters) beginning on the first day of the first full calendar month following the Effective Date, and ending on the last day of the twelfth full calendar month following the Effective Date; provided, however that the first Collaboration Year, and the first quarter thereof, shall include the stub period from the Effective Date to the first day of the first full calendar month following the Effective Date. Thereafter, each twelve complete calendar months shall be a subsequent Collaboration Year.

Collaboration Year means the twelve-month period starting on the Effective Date and any immediately subsequent twelve-month period.

Examples of Collaboration Year in a sentence

• This Agreement shall commence as of the Effective Date and shall expire on the last day of Collaboration Year 4, unless extended by mutual written agreement of the Parties or unless earlier terminated pursuant to the terms of this Agreement (the “Term”).

• ARS shall make each such payment to an account designated by ALK pursuant to Section 6.4. For clarity, no Base Fee shall be payable during Collaboration Year 1 and the earned but unpaid Base Fee for Collaboration Year 1 shall be paid in accordance with this Section 6.1 or Section 11.5.

• Commencing in Collaboration Year 2, on a Quarterly basis during the Term, ARS shall, within [***] after the end of each Quarter, provide ALK with a report showing [***].

• Commencing in Collaboration Year 2, on a Quarterly basis during the Term, in the event that the Market Share for such Quarter equaled or exceeded the applicable Market Share Threshold for such Quarter, then, after receipt of each report provided by ARS under Section 6.2(a) above, ALK shall promptly issue to ARS an invoice for the amount of the Performance Bonus set forth in such report.

• Within [***] after receipt of the invoice from ALK with respect to the Performance Bonus for a given Quarter, to the extent that ARS does not dispute in good faith the amount set forth in such invoice, ARS shall pay to ALK the Performance Bonus for such Quarter to an account designated by ALK pursuant to Section 6.4. For clarity, no Performance Bonus shall be earned or payable during or with respect to Collaboration Year 1.

• Commencing in Collaboration Year 2, on a Quarterly basis during the Term, ALK is eligible for a Performance Bonus for any Quarter in which the Market Share for such Quarter equaled or exceeded the applicable Market Share Threshold for such Quarter.

• Commencing in Collaboration Year 2, on a Quarterly basis during the Term, within [***] after the end of each Quarter, ALK shall promptly issue to ARS an invoice for the amount of the applicable Base Fee for such Quarter; provided that for each Quarter in Collaboration Year 2, such invoice shall also include the applicable Base Fee for the corresponding Quarter in Collaboration Year 1.

• For clarity, upon termination of this Agreement during Collaboration Year 2, all accrued payments relating to Collaboration Year 1 pursuant to Section 6.1(b) that remain unpaid as of such termination shall accelerate and be payable to ALK within [***] after the effective date of termination pursuant to the immediately preceding sentence.

More Definitions of Collaboration Year

Collaboration Year means a one-year period during the Collaboration Term commencing on the Effective Date or an anniversary of the Effective Date and continuing thereafter until the next anniversary of the Effective Date or the end of the Collaboration Term.

Collaboration Year means the period of twelve consecutive months (divided into and composed of four quarters) beginning on the first day of the first full calendar month following the Effective Date, and ending on the last day of the twelfth full calendar month following the Effective Date; provided, however that the first Collaboration Year, and the first quarter thereof, shall include the stub period from the Effective Date to the first day of the first full calendar month following the Effective Date. Thereafter, each twelve complete calendar months shall be a subsequent Collaboration Year. *** Confidential treatment has been requested for redacted portions of this exhibit. This copy omits the information subject to the confidentiality request. Omissions are designated as [***]. A complete version of this exhibit has been provided separately to the Securities and Exchange Commission.

Collaboration Year means each successive twelve (12) calendar month period commencing with the initiation of research efforts as defined in Section 1.50.

Collaboration Year means such annual period during the Collaboration Term as commences upon the date of this Agreement (“Collaboration Year 1”) or upon the anniversary of the date of this Agreement (“Collaboration Year 2”, ”Collaboration Year 3”, etc.).

Collaboration Year means each of Collaboration Year 1, Collaboration Year 2, Collaboration Year 3 and Collaboration Year 4.