Substitute Target definition
Examples of Substitute Target in a sentence
To substitute a Collaboration Target with a Substitute Target, AbbVie shall provide Iambic with written notice, [***], including identification of [***] (a “Substitution Inquiry”).
In the event that AbbVie has exercised its right to replace a Collaboration Target with a Substitute Target and such Substitution has become effective pursuant to Section 3.3 (Target Substitution), then the Option Continuation Payments shall be payable with respect to such new Collaboration Target, regardless of whether one or both Option Continuation Payments were paid with respect to the Former Collaboration Target.
For each Collaboration Program, at any time [***] under the applicable Research Plan for such Collaboration Program, AbbVie shall have the [***] right, in its sole discretion, to substitute the Collaboration Target for such Collaboration Program with another Target (a “Substitute Target”, and a “Substitution”) in accordance with the procedures set forth in Section 3.3.2 (Substitution Process); provided, that the proposed Substitute Target is not an Encumbered Target.
If Iambic confirms the proposed Target is not Encumbered, then within [***] of receiving Iambic’s confirmation, AbbVie shall have the right to provide Iambic with written notice confirming the Substitution of the Collaboration Target with the proposed Substitute Target identified in the Substitution Inquiry (a “Substitution Notice”).