Specific Diligence Obligations. Without limiting the generality of Sections 8.1 and 8.2, Artelo shall: (a) Submit to NEOMED, within [***] following the delivery of the Option Exercise Notice, a certification supported by reasonable documentation, that Artelo, its Affiliates and sublicensees (or any combination thereof) control sufficient resources to maintain the performance of the obligations under this Section 8.2; (b) Use Commercially Reasonable Efforts to initiate, directly or through its Affiliates or sublicensees, a Phase II Clinical Study for a Product within [***] following the delivery of the Option Exercise Notice; and (c) Use Commercially Reasonable Efforts to initiate, directly or through its Affiliates or sublicensees, a Phase III Clinical Study for a Product within [***] following the delivery of the Option Exercise Notice.
Appears in 4 contracts
Samples: Material and Data Transfer, Option and License Agreement, Material and Data Transfer, Option and License Agreement (Artelo Biosciences, Inc.), Material and Data Transfer, Option and License Agreement (Artelo Biosciences, Inc.)
