Diligence and Commercialization. 3.1 Licensee agrees to invest [*] toward the further development of Licensed Products in the field of cancer therapy within eighteen (18) months after the execution date of the Agreement. If Licensee fails to make the required investment, and does not remedy that failure within sixty (60) days after written notice to Licensee, MCGRI, as its sole and exclusive remedy for such failure, may convert Licensee’s right and license in the Field of Use for oncology to non-exclusive.
3.2 Licensee agrees to provide to MCGRI an annual report regarding Licensee’s (or its Affiliates’ or Sublicensees’) progress in other areas of Licensed Product development (outside of cancer). MCGRI has the sole right to determine if non-cancer areas are receiving due diligence in product development in accordance with standards common to the industry, taking into account efficacy, the competitiveness of alternative products in the marketplace, the patent and other proprietary position of the Licensed Products, the likelihood of regulatory approval given the regulatory structure involved, the profitability of the Licensed Product and alternative products and all other relevant factors. If Licensee has not met basic product development milestones, and does not remedy that failure within sixty (60) days after written notice from MCGRI, Licensee’s right and license in that area of the Field of Use (specifically, infectious disease or diagnostics) will revert from exclusive to non-exclusive for that specific application.
Diligence and Commercialization. LICENSEE shall use its reasonable efforts throughout the term of this Agreement to bring Licensed Products, in each licensed Field of Use, to market through a, diligent program for exploitation of the right and license granted in this Agreement to LICENSEE and to create, supply, and service in the Licensed Territory as extensive a market as possible, consistent with LICENSEE's Development Plan attached hereto as Exhibit B. In no instance shall LICENSEE's reasonable efforts be less than efforts customary in LICENSEE's industry.
Diligence and Commercialization. Novirio shall use its reasonable best efforts, either directly or through Affiliates or sublicensees, throughout the term of this Agreement to bring Licensed Products to market through a thorough, vigorous, and diligent program for exploitation of the right and license granted in this Agreement to Novirio and to create, supply, and service as extensive a market as possible. In no instance shall Novirio's reasonable best efforts be less than efforts customary in Novirio's industry.
Diligence and Commercialization. BUKWANG shall use its best efforts throughout the term of this Agreement to diligently pursue BUKWANG’s Development Plan and to bring Licensed Products to market through a thorough, rigorous, and diligent program for exploitation of the rights and license herein granted to BUKWANG and to create, supply, and service in the Licensed Territory as extensive a market as possible. In no instance shall BUKWANG’s best efforts be less than efforts customary in the pharmaceutical industry.
Diligence and Commercialization. Throughout the term of this Agreement, LICENSEE shall use commercially reasonable efforts to bring Licensed Products and Licensed Services, in the Field of Use, to market. In no instance shall LICENSEE'S commercially reasonable best efforts be less than efforts customary in LICENSEE'S industry,
Diligence and Commercialization. ALIMERA shall use [*], either directly or through Affiliates or sublicensees, throughout the term of this Agreement to comply with ALIMERA’s Development Plan, as may be modified by the mutual agreement of EMORY and ALIMERA from time to time, and to bring Licensed Products to market for the Licensed Field of Use. [*]. The obligations set forth in this Article 6.1 are expressly conditioned upon the absence of any serious adverse conditions or event relating directly to the safety or efficacy of the Licensed Product including the absence of any action by the FDA or any other similar Governmental Authority or any independent data safety monitoring board limiting the development or commercialization of Licensed Product. ALIMERA shall include substantially similar diligence and commercialization terms in any sublicense agreement.
Diligence and Commercialization. LICENSEE shall use commercially reasonable efforts, either directly or through Designated Affiliates or sublicensees, throughout the term of this Agreement to comply with LICENSEE’s Development Plan and to bring Licensed Products to market through a thorough, vigorous, and diligent program for exploitation of the right and license granted in this Agreement to LICENSEE, including development, testing and manufacturing, filing for or seeking regulatory approvals, and marketing and sales of at least one Licensed Product and to create, supply, and service in the Licensed Territory as extensive a market as reasonably possible, and shall include substantially similar diligence and commercialization terms in any sublicense agreement. In no instance shall LICENSEE’s, its Designated Affiliates’ and sublicensees’ commercially reasonable efforts be less than efforts customary in LICENSEE’s industry, subject to LICENSEE’s Development Plan. Upon request by either party, and at least annually, UNIVERSITIES and LICENSEE will periodically review LICENSEE’s commercial exploitation plans for the Licensed Patents Rights.
Diligence and Commercialization. 3.1 LICENSEE shall use its best efforts throughout the term of this Agreement to comply with LICENSEE’s Development Plan and to bring Licensed Products to market through a thorough, vigorous, and diligent program for exploitation of the right and license granted in this Agreement to LICENSEE and to create, supply, and service in the Licensed Territory as extensive a market as practical. In no instance shall LICENSEE’s best efforts be less than efforts customary in LICENSEE’s industry.
Diligence and Commercialization. Pharmasset shall use its reasonable best efforts, either directly or through Affiliates or sublicensees, throughout the term of this Agreement to bring Licensed Products to market through a thorough, vigorous, and diligent program for exploitation of the right and license granted in this Agreement to Pharmasset and to create, supply, and service as extensive a market as possible. In no instance shall Pharmasset’s reasonable best efforts be less than efforts customary in Pharmasset’s industry.
Diligence and Commercialization. ALIMERA shall use Commercially Reasonable Efforts, either directly or through Affiliates or sublicensees, throughout the term of this Agreement to comply with ALIMERA’s Development Plan, as may be modified by the mutual agreement of EMORY and ALIMERA from time to time, and to bring Licensed Products to market for the Licensed Field of Use. “Commercially Reasonable Efforts” shall mean efforts and resources normally used by a pharmaceutical company of similar size and resources as ALIMERA for a product owned by it or to which it has exclusive rights, which is of similar market potential at a similar stage in its development or product life, taking into account issues of safety and efficacy, product profile, the competitiveness of the marketplace, the proprietary position of the compound or product, the regulatory and reimbursement structure involved, the profitability of the applicable products, and other relevant factors. The obligations set forth in this Article 6.1 are expressly conditioned upon the absence of any serious adverse conditions or event relating directly to the safety or efficacy of the Licensed Product including the absence of any action by the FDA or any other similar Governmental Authority or any independent data safety monitoring board limiting the development or commercialization of Licensed Product. ALIMERA shall include substantially similar diligence and commercialization terms in any sublicense agreement.
