Common use of Participating Party Clause in Contracts

Participating Party. If the Non-Participating Pre-Phase IIb Party does not opt in under Section 5.6(a)(vi), or if a Party delivers to the other Party an Opt- Out Notice pursuant to Section 5.5(b)(ii), such that only one Party desires to fund Phase IIb Development, then such Phase IIb Development shall be deemed “Unilateral Phase IIb Development”. The Party that desires to fund such Unilateral Phase IIb Development shall be the “Participating Phase IIb Party,” and the other Party shall be the “Non-Participating Phase IIb Party,” in each case with respect to such Product Candidate for such Phase IIb Development.

Participating Party. If the Non-Participating Pre-Phase IIb Party does not opt in under Section 5.6(a)(vi), or if a Party delivers to the other Party an Opt- Out Notice pursuant to Section 5.5(b)(ii), such that only one Party desires to fund Pre-Phase IIb DevelopmentDevelopment of a Product Candidate for an Indication and the other Party delivers an Opt- Out Notice in accordance with Section 5.4(b) or 5.5(a)(iii), then such Pre-Phase IIb Development shall be deemed “Unilateral Pre-Phase IIb Development”. .” The Party that desires to fund such Unilateral Pre-Phase IIb Development shall be the “Participating Pre- Phase IIb Party,” and the other Party shall be the “Non-Participating Pre-Phase IIb Party,” in each case with respect to such Product Candidate for such Pre-Phase IIb Development.

Participating Party. If the Non-Participating Pre-Phase IIb Party does not opt in under Section 5.6(a)(vi), or if a Party delivers to the other Party an Opt- Out Notice pursuant to Section 5.5(b)(ii), such that only one Party desires to fund Phase IIb Development, then such Phase IIb Development shall be deemed ““ Unilateral Phase IIb DevelopmentDevelopment ”. The Party that desires to fund such Unilateral Phase IIb Development shall be the “Participating Phase IIb Party,” and the other Party shall be the “Non-Participating Phase IIb Party,” in each case with respect to such Product Candidate for such Phase IIb Development.