definiens: means the period ( including the Research Period ) beginning on the Effective Date and ending on the earliest of : ( a)termination of this Agreement in accordance with Section 2.3.2(a ) ( Performance of the Research ), Section 2.3.2(b)(Performance of the Research ) or Article 8 ( Term and Termination ; Additional Obligations ) ; or ( b ) the date that istwenty four ( 24 ) months after the Phase 1 Materials Acceptance Date, provided that, if the FDA or EMA places aclinical hold on a Phase 1 Clinical Trial using the applicable Phase 1 Clinical Trial Materials during such twenty four(24 ) month period, then such twenty four ( 24 ) month period shall be extended by a period of time equal to the durationof such clinical hold ; or ( c ) the exercise of the Option by [COMPANY] pursuant to, and in accordance with, Section 2.4.2(Option )