Opt-In Payment definition
Examples of Opt-In Payment in a sentence
For clarity, (x) upon such Party’s payment of such Opt-In Payment to the Funding Party, such Party’s Contribution Allocation shall be adjusted, as of the last day of the Calendar Quarter in which such payment is made, to reflect its payment of the Funding Deficiency, and (y) no Opt-In shall be effective until the Party exercising such Opt-In has given appropriate notice as contemplated hereby and has paid the full amount of the Opt-In Payment.
Such Opt-In Payment shall be due and payable no later than [*] following delivery of notice of such Opt-In[*].
If an Opt-In Payment is made with respect to an Independent Study that is a registration study, and the Proposing Party also conducted other non-registrational Independent Studies for the same Indication pursuant to Section 4.3.4, the Development Costs of such other studies shall be included in the calculation of the Opt-In Payment (but only to the extent that such Development Costs are within the budget included in the applicable Independent Study Proposal).
Where the Pre-Phase III Election Notice under Section 5.6(c)(iv) is received prior to the first data analysis (including any interim analysis as part of the statistical plan) of the Phase IIb Clinical Study, payment of the Pre-Phase III Opt-In Payment shall render such Product Candidate a Product Candidate Developed under a Joint Phase IIb Plan for all purposes, including joint decision making as to the readiness for Phase III Development and the Phase III Plan under Sections 5.5(c) and 5.5(d).
The Company may not use the Second Opt-In Payment until it becomes unrestricted pursuant to Section 2.5.