Common use of Notification of Threatened Action Clause in Contracts

Notification of Threatened Action. Throughout the duration of this Agreement and with respect to all Product supplied and purchased under this Agreement, after the termination of this Agreement, each Party shall immediately notify the other Party of any information it receives regarding any threatened or pending action, inspection or communication by or from a concerned Competent Authority which may affect the safety or efficacy claims of the Product or the continued marketing of the Product. Upon receipt of such information, the Parties shall consult with each other in an effort to arrive at a mutually acceptable procedure for taking appropriate action.

Notification of Threatened Action. Throughout the duration of this Agreement and with respect to all Product supplied and purchased under this Agreement, after the termination of this Agreement, each Party party shall immediately notify the other Party party of any information it receives regarding any threatened or pending action, inspection or communication by or from a concerned Competent Authority Governmental or Regulatory agency which may affect the safety or efficacy claims of the Product or the continued marketing of the Product. Upon receipt of such information, the Parties parties shall consult with each other in an effort to arrive at a mutually acceptable procedure for taking appropriate action.