Common use of Retained Products Clause in Contracts

Retained Products. Fibrocell shall be permitted to continue the clinical development and Commercialization in the Field of any product resulting from the Fibroblast Program that, at the time of termination, satisfies at least one of the following criteria (a “Retained Product”): (i) the particular product is an Improved Product, (ii) the particular product is a Fibrocell Product that is being sold by Fibrocell (or, as may be permitted under this Agreement, its Affiliates and, if applicable, (sub)licensees) triggering profit sharing payments therefor under Section 5.3(a) or (b) of this Agreement, (iii) the particular product is a Fibrocell Product that has received regulatory approval, (iv) the particular product is a Fibrocell Product that is the subject of an application for regulatory approval in the Field that is pending before the applicable regulatory authority, (v) the particular product is a Fibrocell Product that is the subject of at least an ongoing Phase 2 or Phase 3 clinical trial in the Field (in the case of a termination by Intrexon due to a Fibrocell uncured breach pursuant to Section 10.2(a) or a termination by Fibrocell pursuant to Section 10.3). (c) Diligent Efforts to develop and Commercialize any Retained Products, and all other provisions of this Agreement that survive termination.