Examples of Initial Licensed Program in a sentence
Subject to the provisions of Section 3.2.2(b), Section 3.2.2(c) and Section 3.2.2(d), if AGTC has exercised the Milestone/Royalty Option with respect to an Initial Licensed Program, Biogen shall thereafter be solely responsible for all Development Costs for such Initial Licensed Program.
There shall be no Development Plan (or corresponding Development Budget) for any Initial Licensed Program for which (a) AGTC is no longer conducting any Development activities and (b) AGTC has not exercised the Cost Share Option.
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If AGTC exercises the Cost Share Option as set forth in Section 6.2.2 for an Initial Licensed Program, then effective immediately on the date that AGTC exercises the Cost Share Option in accordance with Section 6.2.2, Biogen and AGTC shall equally share in Operating Profits or Losses for Initial Licensed Products arising under such Initial Licensed Program (each, a “Cost Share Product”) in the Territory as provided in Exhibit C.
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AGTC may make such election with respect to an Initial Licensed Program by written notice to Biogen at any time during the period starting upon FIH Trial Completion for the Initial Licensed Product from such Initial Licensed Program, and ending forty-five (45) days after receipt from Biogen of the calculation of all Development Costs reasonably incurred by Biogen which Biogen would expect to be reimbursed under Section 6.3 if AGTC exercised the Cost Share Option.
The bid must be accompanied by a bid security 2% of the total offer in the form of CPO or bank guarantees.
The Parties will conduct all Development activities for each Initial Licensed Program in accordance with the applicable Development Plan for such Initial Licensed Program and this Section 3.1. The initial Development Plans for each Initial Licensed Program are attached hereto as Exhibit A-1 and Exhibit A-2, respectively.
In the event that AGTC fails to make an election with respect to such Initial Licensed Program during the applicable forty-five (45) day period, AGTC shall be deemed to have elected the Milestone/Royalty Option for such Initial Licensed Program.
If AGTC exercises the Milestone/Royalty Option as set forth in Section 6.2.2 for an Initial Licensed Program, then the provisions of this Section 6.4 shall apply with respect to such Initial Licensed Program.