Common use of Control over Development and Commercialization Clause in Contracts

Control over Development and Commercialization. If PPD exercises the PPD Option, PPD shall use Diligent Efforts to conduct further Development of the Licensed Product for a first indication in the United States and each Major European Market, and PPD shall be solely responsible for all costs and expenses it incurs with respect thereto. PPD shall keep and maintain all records required by law or regulation with respect to Licensed Products. PPD shall have the right to modify its Development Plans from time to time in PPD’s reasonably judgment to meet its obligations of Diligent Efforts hereunder. PPD shall use Diligent Efforts to Commercialize such Licensed Product in the United States and Major European Markets. Without limiting the generality of the foregoing, PPD shall undertake the commercial launch of the Licensed Product in the U.S. promptly after, and in any case not later than [*] ([*]) months after, the date upon which Regulatory Approval is granted in the United States. In addition, PPD shall undertake the commercial launch of such Licensed Product in each Major European Market promptly after, and in any case not later than [*] ([*]) months after, the date upon which Regulatory Approval is granted in such Major European Market. PPD shall promptly notify ▇▇▇▇▇▇▇ in writing of the First Commercial Sale of such Licensed Product in the U.S. and each Major European Market.