Example ContractsClausesStability Testing
Stability Testing
Stability Testing contract clause examples
Previous results

“Development” or “Develop” means engaging in preclinical and clinical drug development activities, including, but not limited to, discovery, test method development, stability testing, toxicology, formulation, process development, manufacturing scale-up, development-stage manufacturing, analytical method validation, manufacturing process validation, cleaning validation, post-approval changes, quality assurance/quality control, statistical analysis, report writing, preclinical studies, Clinical Trials, regulatory filing submission and approval and regulatory affairs.

“Engineering Run” means a fermentation run, at the same scale as the intended GMP batch, conducted for the purpose of testing a manufacturing process, identifying and resolving any potential issues with equipment or cGMP documentation prior to clinical GMP manufacturing, and supplying material for non-clinical use and/or stability studies. An Engineering Run is not for the purpose of manufacturing Product in conformance with cGMP.

On a specific date to be determined following the end of each fiscal quarter to be reasonably agreed by the Borrower and the Administrative Agent, but in no case within thirty (30) days prior to the last day of any fiscal quarter (each such date, a “Valuation Testing Date”), the Administrative Agent, through an independent valuation provider selected by the Administrative Agent (the “Independent Valuation Provider”), will test the values as of such Valuation Testing Date determined pursuant to [Section 5.12(b)(ii)] above of those Portfolio Investments included in the Borrowing Base selected by the Administrative Agent. The fair value of such Portfolio Investments tested as of any Valuation Testing Date shall be equal to or greater than the Tested Amount (as defined below).

Notwithstanding the foregoing, the Administrative Agent, individually or at the request of the Required [[Consenting Lenders:Organization]], shall at any time have the right to request, upon reasonable notice to the Borrower and at reasonable times and intervals, any Portfolio Investment included in the Borrowing Base with a value determined by the Borrower pursuant to [Section 5.12(b)(ii)] to be independently tested by the Independent Valuation Provider. There shall be no limit on the number of such tests that may be requested by the Administrative Agent. Unless an Event of Default has occurred and is continuing, the Borrower shall not be responsible for the reimbursement of any fees, costs and expenses of the Independent Valuation Provider incurred pursuant to [Section 5.12(d)] in an aggregate amount in excess of the IVP Supplemental Cap in any 12-month period.

Testing by WuXi ATU. The Product Manufactured under this Agreement will be Manufactured in accordance with the Graphite Process, and with cGMP (if applicable under the Work Order). ​.

Repair, Maintenance and Testing. shall, at ’s sole cost and expense maintain and repair and improve, in accordance with the Management Standard, and pursuant to the specifications set forth in Exhibit K attached hereto (to the extent applicable to Maintenance Responsibilities), those portions of the Building and Premises (inclusive of improvements, fixtures and furnishings) which are Maintenance Responsibilities. shall have the right to reasonably modify and amend the terms and conditions of Exhibit K attached hereto, from time to time, provided that shall consult with prior to any such modification. shall comply with all Applicable Laws in connection with the Maintenance Responsibilities. At ’s option, if fails to comply with its obligations, as required in this Article 7, may, after written notice to , and after affording a reasonable time period within which to conduct such repair or improvement, and after providing a second notice setting forth ’s intention to engage in self-help (except in the event of an emergency, in which case no notice to shall be required), but need not, perform such obligations, and shall pay the reasonable cost thereof, including a reasonable percentage of the cost thereof sufficient to reimburse for all overhead, general conditions, fees and other costs or expenses arising from ’s involvement with such actions by forthwith upon being billed for same.

For the second calendar month immediately following the end of each fiscal quarter (the last such period ended is referred to herein as, the “Testing Period”), commencing with the period ending on May 31, 2023, the Administrative Agent shall have the right to cause an Approved Third-Party Appraiser selected by the Administrative Agent to value such number of Unquoted Investments ((x) included in the Borrowing Base as of the end of such Testing Period or at any time between the end of such Testing Period and the end of the immediately preceding Testing Period, in each case, unless such Portfolio Investment is no longer in the Collateral Pool pursuant to a transaction permitted hereunder and # selected by the Administrative Agent) that collectively have an aggregate Value approximately equal to the Calculation Amount. The Administrative Agent agrees to notify the Borrower of the Unquoted Investments selected by the Administrative Agent to be tested in each Testing Period. If there is a difference between the Borrower’s valuation and the Approved Third-Party Appraiser’s valuation of any Unquoted Investment, the Value of such Unquoted Investment for Borrowing Base purposes shall be established as set forth in sub-clause (F) below.

Applicable limitations when testing changes from current year testing to prior year testing: The ADP for the prior plan year shall be determined taking into account only: # elective contributions for nonhighly compensated employees that were taken into account for purposes of the ADP test in the prior plan year under the current plan year testing method and # qualified nonelective contributions not previously taken into account under either the ADP or ACP test.

under the current year testing method for a year may not be taken into account under the prior year testing method for the next year.

Nondiscrimination testing as described in Code §401(a)(4) and the applicable Regulations. (4) Coverage testing as described in Code §410(b) and the applicable Regulations.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.