Commercially Reasonable Endeavours definition

Commercially Reasonable Endeavours means the efforts that a prudent Person would use in similar circumstances to ensure that its obligations are fulfilled expeditiously without incurring additional costs beyond what it would have had to incur in the usual circumstances.

Commercially Reasonable Endeavours means, in respect of each Indication to be developed separately, the effort a prudent and determined company of comparable size and sector to the Licensee would take to pursue the goal of developing and Marketing Licensed Products to maximize the financial return and in any event do no less than is required to fulfil the steps laid out in the Development Plan.

Commercially Reasonable Endeavours means the endeavours that a reasonable and prudent Person desirous of achieving a business result would use in similar circumstances to ensure that such result is achieved as expeditiously as possible in the context of commercial relations of the type contemplated in this Agreement, provided, however, that an obligation to use Commercially Reasonable Endeavours does not require the Person subject to that obligation to assume any material obligations or pay any material amounts to a Third Party.

Examples of Commercially Reasonable Endeavours in a sentence

• The Parties hereby agree to work together in good faith and to use Commercially Reasonable Endeavours to increase and maximize efficiency, including in terms of furnace optimization at the Supplier Facilities; provided that the foregoing obligation shall not require any Party to agree on any amendments to or waive any rights afforded to them under this Agreement.

• Thereafter, the Parties shall use Commercially Reasonable Endeavours to agree on the terms and conditions of such supply, including the proposed specifications for such Trial Products, it being acknowledged and agreed by the Parties that the Supplier shall have no obligation to supply Trial Products under this Agreement (including if the Purchaser’s proposals for the specifications to apply to such products are unacceptable to the Supplier).

• Subject to the obligation to perform Commercially Reasonable Endeavours to Develop and/or commercialize the Compound or to sublicence, if Flexion decides that it no longer wishes to do so, then it shall promptly notify AstraZeneca in writing of such decision whereupon the rights granted to Flexion pursuant to Section 3.1 with respect to the Compound shall terminate and revert to AstraZeneca and, the provisions of Section 17.6.2 shall apply.

• The Affected Party shall use Commercially Reasonable Endeavours to remove the said cause or causes and to resume, with the shortest possible delay, compliance with its obligations under this Agreement, provided that the Affected Party shall not be required to settle any strike, lockout or labour dispute on terms not acceptable to it, acting in good faith and using commercial judgment.

• Subject to Section 2.4 with respect to Products under Development, the Parties shall use Commercially Reasonable Endeavours to reach an agreement with respect to such a request but neither Party shall be obligated to reach such an agreement.

More Definitions of Commercially Reasonable Endeavours

Commercially Reasonable Endeavours mean, with respect to the performance of each of the obligations of each Party under this Agreement, efforts and resources commonly used in the research-based pharmaceutical industry for compounds or products with similar commercial and scientific potential at a similar stage in their lifecycle. Commercially Reasonable Endeavours after First Regulatory Approval Filing shall be determined on a market-by-market basis for Compound and each Licensed Product, as applicable, provided that it is understood that Commercially Reasonable Endeavours with respect to commercialisation require the Party responsible for commercialisation of Compound or Licensed Product under this Agreement to apply for Health Registration Approval and Exploit Compound or Licensed Product at least in the Major Markets, unless commercialisation in a specific Major Market is (in itself) commercially not viable and/or reduces the overall economic value of a Compound or Licensed Product. Commercially Reasonable Endeavours require that a Party, at a minimum, assign responsibility for such obligations to qualified employees, set annual goals and objectives for carrying out such obligations, and allocate resources designed to meet such goals and objectives.

Commercially Reasonable Endeavours means [***];

Commercially Reasonable Endeavours means in this technical support policy the same degree of priority and diligence that Spirable uses to achieve the Service Goals for its other similar customers. 2. “Customer Equipment” means the system, computer hardware, software, and/or network infrastructure of Customer, its contractors and/or its Users.

Commercially Reasonable Endeavours means efforts that are comparable to those used by the pharmaceutical industry, and are financially reasonable in the relevant region or in the Territory for products that have a similar commercial potential and are at similar stages in the product life cycle measured by the facts and circumstances including present and future market potential, medical and clinical considerations, present and future regulatory environment and competitive market conditions.

Commercially Reasonable Endeavours means, with respect to the endeavours (including financial spend) to be expended by a Party to achieve any objective, all reasonable, diligent commercial efforts to accomplish such objective that a person with operations of a similar scale and standing in the pharmaceutical industry would normally use when conducting an on-going business for its own benefit to accomplish a similar objective under similar circumstances;

Commercially Reasonable Endeavours means at the relevant time in question, and from time to time, during the term hereof, taking such reasonable steps and performing such conduct in good faith and such a manner as a well-managed for-profit company would undertake or perform implementing good industry practice where such company was acting in a determined, prudent and reasonable manner that will probably achieve the particular result for its own benefit; provided that this obligation shall not be construed to require a Party to: (i) undertake any conduct other than one which a prudent, determined and reasonable person, acting in his own interests and desiring to achieve that result, would take; (ii) undertake any litigation or appeal against a decision; (iii) breach any fiduciary duty or contravene any applicable law; (iv) undertake conduct that would be objectively unreasonable in all the circumstances then present; and (v) shall be limited to take into account the respective financial and/or commercial benefits contained in and risk herein undertaken;

Commercially Reasonable Endeavours by the Seller’s Group shall not entail out-of-pocket expenditure of any funds by the Seller’s Group unless funded in advance by the Purchaser or agreed by the Purchaser as Permitted Leakage.