definiens: means that a [COMPANY] Product Licence will continue to be available to [COMPANY] and [COMPANY] Sublicensees during that twenty - four ( 24 ) month period ( or 30 month period if the Reservation Period is extended ) . [COMPANY] may not ( a ) have more than forty ( 40 ) Nominated Targets reserved at anyone time and ( b ) exercise the right to reserve Nominated Targets pursuant to this Clause in relation to more Targets than there are [COMPANY] Product Licences remaining available at the relevant time pursuant to Clause 3 . In the event that, at any time during which a Nominated Target is reserved for [COMPANY] in accordance with this Clause 4.2, a Third Party request from [COMPANY] an exclusive license in respect of the relevant Nominated Target, [COMPANY] will promptly notify [COMPANY] in writing . [COMPANY] will then have a period of thirty ( 30 ) days from the date of [COMPANY] 's notice to decide whether or not it wishes to take a [COMPANY] Product Licence for that Nominated Target . If [COMPANY] notifies [COMPANY] within that period that it does not wish to take such a [COMPANY] Product Licence or fails to notify [COMPANY] at all then such Nominated Target shall no longer be reserved for [COMPANY] and Medlmmune may grant an exclusive license in respect of such Nominated Target to the Third Party