Within ten (10) days following an election to participate in a Genentech Potential New Product, IDEC shall pay Genentech the opt-in fee set forth in Section 7.1(b)(ii) or (iii), as the case may be.
IDEC shall have sixty (60) days from the date of Genentech's notice to IDEC of the availability of a Potential New Product to provide written notice to Genentech that it elects to participate in the development and commercialization of such Potential New Product.
With respect to [*] Potential New Products, [*] Genentech will provide to IDEC a summary of Genentech's rights (and IDEC's potential rights) to develop and commercialize such [*] Potential New Product, as well as relevant information about the product, including preclinical and clinical data and reports [*].
If the Parties are unable to agree upon the amount of the opt-in fee for such [CONFIDENTIAL TREATMENT REQUESTED] Potential New Product, either Party may, by written notice to the other, have such matter referred to an independent investment banker, mutually agreeable to both Parties, to determine the amount of such opt-in fee; such determination to be binding upon both Parties.
From and after the date of the payment of such fee, such Genentech Potential New Product shall be deemed a New Product under this Agreement, and IDEC shall have the right to participate with Genentech with respect to such product [CONFIDENTIAL TREATMENT REQUESTED] New Product.