Target definition
Examples of Target in a sentence
Promptly following the Effective Date, the Parties shall jointly engage an independent attorney mutually acceptable to the Parties to serve as a gatekeeper (the “Gatekeeper”) through which Aktis may identify Excluded Targets and ▇▇▇▇▇ may inquire as to whether any Target that ▇▇▇▇▇ would like to designate as a Collaboration Target (whether as an Initial Collaboration Target pursuant to Section 3.2, or a Replacement Collaboration Target pursuant to Section 3.4) is an Excluded Target at such time.
Except in connection with termination by ▇▇▇▇▇ pursuant to Section 13.2 or Section 13.5, or if Lilly terminates this Agreement pursuant to Section 13.4 in connection with a bona fide, material safety-related concern in connection with a Licensed Compound or Licensed Product, in the event of any other termination of this Agreement either in its entirety or with respect to a Terminated Target, upon Aktis’ written request [***]: [***].
During the Research Term for each Collaboration Target, Aktis and ▇▇▇▇▇ shall collaborate on Research and Pre-Clinical Development of Licensed Compounds Directed To such Collaboration Target, in each case leveraging the Aktis Platform (each, a “Research Program”).
Licensee shall pay IPI the applicable, non-refundable, non-creditable, milestone payment set forth below upon the first achievement of each milestone event set forth below by or on behalf of Aktis (or by an Affiliate or sublicensee, as the case may be) for each of the first [***] Licensed Products paid once per Aktis Target.
Subject to the gatekeeping process set forth in Section 3.3 to ensure a Target proposed by ▇▇▇▇▇ is available to be a Collaboration Target, ▇▇▇▇▇ may designate up to [***] Initial Collaboration Targets and replace the Initial Collaboration Targets with Replacement Collaboration Targets, in each case, subject to and in accordance with this Article 3.