Examples of Initial Research Program Term in a sentence
The Initial Research Program Term may be extended for up to two (2) additional one (1) year periods (seven (7) years total).
Each such one (1) year extension shall be requested by Juno in writing no later than (a) with respect to the first extension, [**] months prior to the expiration date of the Initial Research Program Term, and (b) with respect to the second extension, [**] months prior to the expiration of the first extension.
Unless MERCK terminates the Research Program prior to the end of the Initial Research Program Term (in which case, the Option Period shall be deemed immediately terminated), the period of time during which AVEO shall be obligated to present Target Packages to MERCK subject to and in accordance with Section 3.4.2, shall continue for the duration of the Research Program Term, and for a period of [**] months thereafter (the “Option Period”).
That is, these facilities will allow the agricultural company to earn high returns in the future as long-term assets.
Without limiting Section 13.3, Merck shall not have the right to terminate early the Research Program for convenience; it being understood that Merck shall not be obligated to extend the Research Program beyond the Initial Research Program Term.