The initial term of the Collaborative Research shall begin as of the Effective Date and shall end on the date which is five (5) years after the Effective Date, unless terminated sooner pursuant to Section 8.1 hereof. This Agreement may be extended or renewed only by mutual written agreement executed by duly-authorized representatives of the parties and by the Principal Investigator. Wistar agrees to initiate the Collaborative Research promptly after receipt of the first payment from Collaborator in accordance with the payment schedule set forth in Exhibit B hereof. Wistar agrees to use reasonable efforts to conduct the Collaborative Research in accordance with the terms and conditions of this Agreement. Collaborator acknowledges that Wistar and the Principal Investigator shall have the freedom to conduct and supervise the Collaborative Research in a manner consistent with Wistar’s educational and research missions.