Development Term definition

Development Term means the period commencing on the Closing Date and ending on the earlier of (a) the Option Closing Date or (b) the date the Option terminates or expires other than by exercise.

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Development Term means the term of development of Products by Ikaria.

Development Term means the period during which the Parties are conducting studies and activities with respect to Product in the Field in the Territory under the Development Plan, commencing on the Effective Date and ending upon the completion of all studies and activities specified in the Development Plan or earlier termination of this Agreement.

Examples of Development Term in a sentence

• Failure by Developer to fulfill these obligations within one hundred-twenty (120) days after expiration or termination of the Development Term (or Extended Term, if applicable) shall result in monetary or other penalties as allowed under the Directives.

• At the end of the Development Term or upon termination of this Agreement (if this Agreement is otherwise terminated prior to the end of the Development Term), if Developer is then engaged in Drilling Operations or Completion Operations with respect to a Development Well on the Subject Lands, then the Development Term shall be extended INSOFAR AND ONLY INSOFAR as to such ongoing Drilling Operations and/or Completion Operations with respect to such Development Well (such extension, the “Extended Term”).

• If Developer earns a Designation of Production Acreage as provided in Article 1.b. during the Development Term, the term of such Designation of Production Acreage shall commence on the date such Designation of Production Acreage is fully executed by all Parties.

• Subject to Article 3 and this Article 7, the rights provided to Developer pursuant to Article 1 shall terminate and be of no further force and effect at the expiration of the Development Term (or Extended Term, if applicable) or if this Agreement is otherwise terminated prior to such expiration.

• Except as to any Production Acreage which is included in a Designation of Production Acreage, upon the expiration or termination of the Development Term (or Extended Term, if applicable), Developer shall, unless otherwise instructed in writing by University Lands, (i) remove all equipment, including pipelines and utilities, (ii) drain, fill, and level all pits, and (iv) restore the surface of the Subject Lands to the condition it was in before any operations were commenced.

More Definitions of Development Term

Development Term means the period of time beginning on the Effective Date and expiring on completion of the Development Plan.

Development Term means the period commencing on the Effective Date and ending on the date of the First Commercial Sale.

Development Term means the period of time during which each Party will undertake activities in the Development Program or on the Development Plan.

Development Term means the period beginning on the Effective Date and ending upon the earlier of (a) Regulatory Approval in the United States for the first Product for the Initial Indication and (b) the date that the Parties agree in writing to end all Palatin Development Activities.

Development Term shall have the meaning provided in Section 12.1.

Development Term means the period commencing on the Effective Date and continuing for seven (7) years thereafter.

Development Term means the period during which MannKind is conducting activities under the Development Plan, commencing on the Effective Date and ending upon the completion of all activities specified in the Development Plan or earlier termination of this Agreement.