Commercially Reasonable and Diligent Efforts means, with respect to research, development and commercialization of a Product, a party's use of best efforts and resources consistent with the exercise of prudent scientific and business judgment, as applied to other pharmaceutical products of similar potential, market size and competitive environment.
Commercially Reasonable and Diligent Efforts means those efforts consistent with the exercise of prudent scientific and business judgment, as applied to other pharmaceutical products of similar potential and market size by participants in the biopharmaceutical industry having similar resources to XOMA or Alexion, as the case may be.
Commercially Reasonable and Diligent Efforts means with respect to Development and commercialization of the Licensed Product, a Party’s reasonable efforts no less than those efforts used by the Party in its other development, commercialization or marketing projects with other technologies and products having comparable commercial potential.
Examples of Commercially Reasonable and Diligent Efforts in a sentence
Each Party agrees to use Commercially Reasonable and Diligent Efforts to assure the complete and prompt exchange, as needed, of Alexion Background Technology and XOMA Background Technology, Collaboration Technology and the results of all activities pursuant to the Development Plans.
Biogen Idec shall use Commercially Reasonable and Diligent Efforts to develop and commercialize Co-Funded Products within the Field.
Sunesis shall use Commercially Reasonable and Diligent Efforts to develop and commercialize each Reverted Product.
Each Party agrees to use Commercially Reasonable and Diligent Efforts to perform its activities detailed in the Development Plans in a professional and timely manner.
Notwithstanding the foregoing, failure by either Party to use Commercially Reasonable and Diligent Efforts with respect to the development and commercialization of a Product shall not be deemed a breach of this Agreement.
More Definitions of Commercially Reasonable and Diligent Efforts
Commercially Reasonable and Diligent Efforts means, unless the Parties agree otherwise, those efforts consistent with the exercise of prudent scientific and business judgment, as applied to other products of similar scientific and commercial potential within the relevant product lines of the Parties.
Commercially Reasonable and Diligent Efforts will mean that level of effort which, consistent with the exercise of prudent scientific and business judgment, is applied by the Party in question to its other therapeutic products at a similar stage of development and with similar commercial potential.
Commercially Reasonable and Diligent Efforts means that level of effort which, consistent with the exercise of prudent scientific and business judgment, is applied by Purchaser to its other therapeutic products at a similar stage of development and With similar commercial potential.
Commercially Reasonable and Diligent Efforts means that [***]. Commercially Reasonable and Diligent Efforts require that the party: (a) in a timely manner assign responsibility for tasks to specific employee(s) with sufficient skills and experience as are required to accomplish such tasks, and hold such employee(s) accountable for progress and monitor such progress on an on-going basis; (b) set and timely seek to achieve specific and meaningful objectives for carrying out such tasks; and (c) timely make and implement decisions and allocate resources designed to advance progress with respect to such tasks.
Commercially Reasonable and Diligent Efforts means the level of effort and resources normally used by a Party for a product or compound owned or controlled by it, which is of similar market potential and at a similar stage in its development or product life, taking into account, without limitation, with respect to a product issues of safety and efficacy, product profile, the proprietary position of the product, the then current competitive environment for the product and the likely timing of the product’s entry into the market, the regulatory environment of the product, and other relevant scientific, technical and commercial factors. Notwithstanding the foregoing, to the extent that the performance of a Party’s responsibilities hereunder is adversely affected by the other Party’s failure to perform its responsibilities hereunder, such Party shall not be deemed to have failed to use its Commercially Reasonable and Diligent Efforts in performing such responsibilities. Notwithstanding, but not in limitation of the foregoing, Millennium shall be deemed to be using Commercially Reasonable and Diligent Efforts for a Co-Funded Product specifically directed at a particular Designated Target if it is using Commercially Reasonable and Diligent Efforts with respect to a Licensed Compound specifically directed at such Designated Target.
Commercially Reasonable and Diligent Efforts means { * }.
Commercially Reasonable and Diligent Efforts means, with respect to the efforts to be expended by the Borrower and the Subsidiaries to Exploit any Included Product in any country or regulatory jurisdiction in the Exploitation Territory, such efforts and resources normally used by a reasonably prudent company in the pharmaceutical industry of a size comparable to the Borrower and its Subsidiaries, taken as a whole, to Exploit, in such country or jurisdiction, a pharmaceutical product for which the applicable Regulatory Approval is held by such company, which pharmaceutical product is wholly owned by or exclusively licensed to such company, which pharmaceutical product is at a similar stage in its product life and of similar market and profit potential, taking into account efficacy, safety, approved labeling, the competitiveness of alternative products in such country or jurisdiction, pricing/reimbursement for the pharmaceutical product in such country or jurisdiction relative to other countries and jurisdictions in the Exploitation Territory, the patent and other proprietary position of the pharmaceutical product in such country or jurisdiction, the regulatory structure in such country or jurisdiction and the profitability of the pharmaceutical product in such country or jurisdiction, all as measured by the facts and circumstances in existence at the time such efforts are due.