Effect of New Formulation Opt-In Sample Clauses

Effect of New Formulation Opt-In. If Acucela exercises the opt-in right to co-Develop and Co-Promote a New Formulation within the applicable time period set forth in Section 3.3(b) above: (i) the licenses to Acucela pursuant to Sections 6.2 and 6.3 shall become effective with respect to the applicable New Formulation; (ii) Acucela shall thereafter (A) co-Develop such New Formulation in accordance with Section 4.4, (B) Co-Promote such New Formulation in the Territory in accordance with Section 5.4 and pursuant to the Co-Promotion Agreement, and (C) fund a percentage of all Development Costs and a percentage of all Commercialization Costs, in each case relating to such New Formulation, in accordance with the terms of Section 7.4; (iii) subject to Section 7.4(b), Acucela shall obtain, without assistance from Otsuka, all funding necessary to meet and comply with its co-Development and Co-Promotion obligations; (iv) Acucela shall pay the New Formulation opt-in fee as set forth in Section 7.1(c) (but, for clarity, Acucela shall have no obligation to pay any development milestones with respect to such New Formulation); and (v) all other terms and conditions of this Agreement shall remain in effect and shall apply to such New Formulation. * Confidential Treatment Requested.
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