Common use of Joint Commercialization Plan Clause in Contracts

Joint Commercialization Plan. Biogen Idec shall prepare the strategic elements of the first Joint Commercialization Plan prior to Sobi’s exercise of the Opt-In Right. Following Opt-In, the Parties shall use Commercially Reasonable Efforts to develop the operational FOIA EXEMPTION CLAIMED AND PRIOR NOTIFICATION REQUESTED BEFORE ANY DISCLOSURE Execution Version elements, and further refine or amend the strategic elements, of the Joint Commercialization Plan, within sixty (60) days of Opt-In. Prior to [**] of each year, the JCC shall update and the JSC shall approve the Joint Commercialization Plan covering Commercialization activities for each Product. The JCC may, from time to time, amend or modify the then-current Joint Commercialization Plans. Each Joint Commercialization Plan shall contain sufficient details for each Party to conduct its typical budgeting activities. For avoidance of doubt, each Joint Commercialization Plan shall specify all of the Commercialization Activities of each Party, whether to be conducted individually or jointly by the Parties, and shall specify which, if any, of such Commercialization Activities are Additional Agreed Activities. Notwithstanding anything to the contrary in this Agreement, any Joint Commercialization Plan prepared by Biogen Idec prior to Opt-In shall not be binding on Sobi to conduct any activities, or be responsible for any portion of any costs incurred, after the exercise of its Opt-In Right for a Product, except to the extent such Joint Commercialization Plan is confirmed by the JCC or JSC after Opt-In.

Joint Commercialization Plan. Biogen Idec shall prepare the strategic elements of the first Joint Commercialization Plan prior At an appropriate time to Sobi’s exercise of the Opt-In Right. Following Opt-In, be mutually agreed by the Parties shall use Commercially Reasonable Efforts to develop through the operational FOIA EXEMPTION CLAIMED AND PRIOR NOTIFICATION REQUESTED BEFORE ANY DISCLOSURE Execution Version elements, and further refine or amend the strategic elements, of the Joint Commercialization Plan, within sixty JMC (60) days of Opt-In. Prior to but in any event [**] months prior to commercial launch of each yearthe applicable Shared Product in the United States), the JCC Parties through the JMC shall update mutually agree upon the initial joint plan for Commercialization of such Shared Product for the U.S. (the “Joint Commercialization Plan”), with the goal that each Party’s participation in the Commercialization of Shared Product for the U.S. shall, to the extent practicable, be substantially equal on an ongoing basis, provided that a Party shall not be assigned a particular Commercialization activity or responsibility unless it has the capacity and capability to undertake such activity or responsibility, as determined by the JMC. The Joint Commercialization Plan may be amended or updated from time to time by mutual agreement of the Parties through the JMC, including any amendments or updates to any anticipated timelines or to the then-current budget. The Joint Commercialization Plan shall encompass the planned Commercialization strategy in the U.S. for the applicable Shared Product and shall set forth the corresponding budget of Shared Commercialization Costs, anticipated timelines, Commercialization activities to be performed by each Party, commercial supply forecasts, and the JSC other matters described below. The initial Joint Commercialization Plan shall approve include the budgeted Shared Commercialization Costs for pre-launch Commercialization activities in the U.S. and for Commercialization activities through at least [**] Calendar Years after the First Commercial Sale of the Shared Product in the U.S. Thereafter, the Joint Commercialization Plan covering Commercialization activities for each Productshall be updated by the Parties, through the JMC, on an [**] basis. The JCC may, from time to time, amend or modify the then-current Joint Commercialization Plans. Each Joint Commercialization Plan shall contain sufficient details for each Party at a minimum, solely in regards to conduct its typical budgeting activities. For avoidance of doubtthe U.S., each Joint Commercialization Plan shall specify all of the Commercialization Activities of each Party, whether to be conducted individually or jointly following (unless otherwise mutually agreed by the Parties, and shall specify which, if any, of such Commercialization Activities are Additional Agreed Activities. Notwithstanding anything to the contrary in this Agreement, any Joint Commercialization Plan prepared by Biogen Idec prior to Opt-In shall not be binding on Sobi to conduct any activities, or be responsible for any portion of any costs incurred, after the exercise of its Opt-In Right for a Product, except to the extent such Joint Commercialization Plan is confirmed by the JCC or JSC after Opt-In.):