Common use of Notice of Proposed Products Clause in Contracts

Notice of Proposed Products. If at any time after the Effective Date, (i) Wistar identifies a Proposed Product, or (ii) a third party (“Proposing Third Party”) identifies a Proposed Product and makes a bona fide proposal to Wistar for the development of such Proposed Product, and, in each case (i) or (ii), Wistar is interested in having such Proposed Product developed, then Wistar may give written notice thereof to Company (“Proposed Product Notice”), which notice shall include information regarding the relevant application, product, sub-field or indication. Wistar shall not be required to include in any Proposed Product Notice (a) any information that is subject to restrictions of confidentiality with any third party, or (b) any information that originates with Wistar personnel who do not assent to its disclosure to Company. For the purposes of this Agreement, (A) a Proposed Product identified by a third party as described in (i) above shall be a “Wistar Proposed Product,” and (B) a Proposed Product identified by Wistar as described in (ii) above shall be a “Third Party Proposed Product.”