Common use of Lack of Diligence Clause in Contracts

Lack of Diligence. In the event that Warner (i) fails to use or continue to use diligent efforts to actively develop and commercialize at least one Product Configuration (or corresponding Collaboration Product) for a particular clinical indication in the Field as set forth in Section 8.2.1 above (which diligence shall include but not be limited to the payment of the amounts set forth in Section 8.2.3), or (ii) notifies GenVec that it will not conduct further commercialization with respect to a particular clinical indication in the Field, then GenVec may terminate Warner's rights under this Agreement with respect to such clinical indication and all Product Configurations (or corresponding Collaboration Products) therefor in the Territory. In such event, such indication shall thereafter be excluded from the Field, and, subject to Article 15, GenVec shall thereafter have the exclusive rights to commercialize any Product Configuration (or corresponding Collaboration Product) for such indication in the Territory, alone or with Third Parties, without obligation to Warner.

Lack of Diligence. In the event that Warner (i) fails to use ----------------- or continue to use diligent efforts to actively develop and commercialize at least one Product Configuration (or corresponding Collaboration Product) for a particular clinical indication in the Field as set forth in Section 8.2.1 above (which diligence shall include but not be limited to the payment of the amounts set forth in Section 8.2.3), or (ii) notifies GenVec that it will not conduct further commercialization with respect to a particular clinical indication in the Field, then GenVec may terminate Warner's rights under this Agreement with respect to such clinical indication and all Product Configurations (or corresponding Collaboration Products) therefor in the Territory. In such event, such indication shall thereafter be excluded from the Field, and, subject to Article 15, GenVec shall thereafter have the exclusive rights to commercialize any Product Configuration (or corresponding Collaboration Product) for such indication in the Territory, alone or with Third Parties, without obligation to Warner.

Lack of Diligence. In the event that Warner (i) fails to use or ----------------- continue to use diligent efforts to actively develop and commercialize at least one Product Configuration (or corresponding Collaboration Product) for a particular clinical indication in the Field as set forth in Section 8.2.1 above (which diligence shall include but not be limited to the payment of the amounts set forth in Section 8.2.3), or (ii) notifies GenVec that it will not conduct further commercialization with respect to a particular clinical indication in the Field, then GenVec may terminate Warner's rights under this Agreement with respect to such clinical indication and all Product Configurations (or corresponding Collaboration Products) therefor in the Territory. In such event, such indication shall thereafter be excluded from the Field, and, subject to Article 15, GenVec shall thereafter have the exclusive rights to commercialize any Product Configuration (or corresponding Collaboration Product) for such indication in the Territory, alone or with Third Parties, without obligation to Warner.