Right of First Negotiation Regarding Development Opportunities. In addition to any other rights or restrictions set forth in this Agreement, PRONOVA agrees that during the term of this Agreement, PRONOVA shall not initiate, conduct, assist with, partner with any third party for or otherwise engage in any clinical development with respect to any prescription or OTC pharmaceutical product that contains Omega-3 fatty acids as an active ingredient and that is covered by patent rights owned or controlled by PRONOVA (other than through any license granted by the third party in connection with such clinical development), either alone or in combination with one or more active ingredients, that PRONOVA intends, directly or indirectly, to commercialize in the Territory (each such prescription or OTC pharmaceutical product, together with additional products arising from the same development effort, a “Development Opportunity”), unless PRONOVA shall have first offered in a written notice (the “Development Opportunity Offer Notice”) to RELIANT the right to partner with PRONOVA with respect to such Development Opportunity or otherwise acquire rights in the Territory for any products, processes or other intellectual property rights resulting from such Development Opportunity, specifying the terms and conditions thereof. RELIANT shall have sixty (60) days (the “Development Opportunity Offer Period”) from the date of its receipt of the Development Opportunity Offer Notice to accept the offer to partner with PRONOVA for, or otherwise acquire rights in respect of, such Development Opportunity, upon such terms and conditions contained in the Development Opportunity Offer Notice. In the event that RELIANT shall fail to respond in writing accepting the terms and conditions of the Development Opportunity Offer Notice prior to the expiration of the Development Opportunity Offer Period, RELIANT shall be deemed to have rejected the offer. During the Development [***]: Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. Opportunity Offer Period, unless RELIANT rejects the offer contained in the Development Opportunity Offer Notice in writing PRONOVA shall not offer to, solicit or accept offers for, negotiate or otherwise discuss such Development Opportunity with any other person or entity.
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Samples: Agreement (Reliant Pharmaceuticals, Inc.), Agreement (Reliant Pharmaceuticals, Inc.), Agreement (Reliant Pharmaceuticals, Inc.)
Right of First Negotiation Regarding Development Opportunities. In addition to any other rights or restrictions set forth in this Agreement, PRONOVA agrees that during the term of this Agreement, PRONOVA shall not initiate, conduct, assist with, partner with any third party for or otherwise engage in any clinical development with respect to any prescription or OTC pharmaceutical product that contains Omega-3 fatty acids as an active ingredient and that is covered by patent rights owned or controlled by PRONOVA (other than through any license granted by the third party in connection with such clinical development), either alone or in combination with one or more active ingredients, that PRONOVA intends, directly or indirectly, to commercialize in the Territory (each such prescription or OTC pharmaceutical product, together with additional products arising from the same development effort, a “Development Opportunity”), unless PRONOVA shall have first offered in a written notice (the “Development Opportunity Offer Notice”) to RELIANT the right to partner with PRONOVA with respect to such Development Opportunity or otherwise acquire rights in the Territory for any products, processes or other intellectual property rights resulting from such Development Opportunity, specifying the terms and conditions thereof. RELIANT shall have sixty (60) days (the “Development Opportunity Offer Period”) from the date of its receipt of the Development Opportunity Offer Notice to accept the offer to partner with PRONOVA for, or otherwise acquire rights in respect of, such Development Opportunity, upon such terms and conditions contained in the Development Opportunity Offer Notice. In the event that RELIANT shall fail to respond in writing accepting the terms and conditions of the Development Opportunity Offer Notice prior to the expiration of the Development Opportunity Offer Period, RELIANT shall be deemed to have rejected the offer. During the Development [***]: Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. Opportunity Offer Period, unless RELIANT rejects the offer contained in the Development Opportunity Offer Notice in writing PRONOVA shall not offer to, solicit or accept offers for, negotiate or otherwise discuss such Development Opportunity with any other person or entity.
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