Examples of First Stage Research Plan in a sentence
ITRI grants to Isis a non-exclusive, sublicensable, [***] license to any invention invented by ITRI as part of the performance of this Agreement, such license solely to develop or commercialize, [***], a SARS antisense drug arising out of the First Stage Research Plan.
Each Holder agrees to furnish such information to PubCo and to cooperate with PubCo as reasonably necessary to enable PubCo to comply with the provisions of this Agreement.
Unless earlier terminated in accordance with the provisions of this Article 6, the term of this Agreement (the "Term") will commence upon the Effective Date and will continue until the completion of the First Stage Research Plan, and receipt by Isis of all payments due under Sections 3.1.1 and 3.1.2.
ITRI will pay to Isis milestone payments as follows: [***] (U.S.) within [***] days of the receipt by ITRI of both Isis's invoice and the report concerning Isis's identification of an antisense drug which inhibits replication of SARS coronavirus in a cell-based assay, with an IC50 of less than [***] micromolar; and, [***] (U.S.) within [***] days of the receipt by ITRI of both Isis's invoice and the report concerning Isis's completion of its obligations under the First Stage Research Plan.
Isis and ITRI will negotiate in good faith to enter, no later than [***], an agreement for the continuation of SARS drug research and development beyond that described in the First Stage Research Plan, with consideration to be given to the terms attached as Appendix 2.2. Payments made by ITRI under Section 3.1 of this Initial Collaboration Agreement will be credited against the research payments due under the future Collaboration Agreement.
To the extent necessary, the future Collaboration Agreement will be adjusted to account for work performed under the First Stage Research Plan of this Initial Collaboration Agreement.
Isis grants to ITRI a non-exclusive, sublicensable, [***] license to any invention invented by Isis as part of the performance of this Agreement, such license solely to develop or commercialize, in [***] only, a SARS antisense drug arising out of the First Stage Research Plan.