Marketing Default Notice Clause Samples

Marketing Default Notice. If, at any time during the Term, Xenova reasonably considers that QLT has without legitimate reason committed a Marketing Default, Xenova may provide written notice thereof to QLT stating that it wishes to exercise the co-promotion and manufacturing rights set out in Section 5.3(d) (the "MARKETING DEFAULT NOTICE"). If there is any disagreement between the parties as to whether QLT has committed a Marketing Default, either party may refer the question to expedited arbitration under Section 17.2. Subject to the outcome of expedited arbitration hereunder, if any, Xenova may assume the co-promotion and manufacturing rights more specifically set out in Section 5.3(d).