Reasonable Commercial Efforts definition

Reasonable Commercial Efforts means, with respect to the applicable obligation of the Company, reasonable commercial efforts for similarly situated, publicly-traded companies.

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Reasonable Commercial Efforts means effort, expertise and resources normally used by the Party engaged in the development and commercialization of a medical device product owned or controlled by such Party which is of similar market potential at a similar stage in its development or product life, taking into account issues of safety and efficacy, product profile, the competitiveness of the marketplace, the proprietary position of the product, the profitability of the applicable products, and other relevant factors.

Examples of Reasonable Commercial Efforts in a sentence

However in such circumstances, at CLIENT’s request, ▇▇▇▇▇ will (a) lead appropriate fact finding (including conducting any audit) necessary to identify the root cause which led to the fact finding forum being constituted and (b) use Reasonable Commercial Efforts to enforce any of its rights/the laboratory’s obligations for and on behalf of CLIENT and otherwise reasonably cooperate with CLIENT to ensure the performance of such analytical laboratory’s obligations in accordance therewith.
Subject to the provision by CLIENT of the CLIENT Manufacturing Materials pursuant to Section 2.3, LONZA will use Reasonable Commercial Efforts to perform, directly or, subject to the terms of the Statement of Work or written approval by CLIENT (such approval not to be unreasonably withheld), through a Third Party contractor, the work described in a Statement of Work in a professional and workmanlike manner in accordance with the terms of this Agreement and the applicable SOW.
LONZA will accept or reject orders for Slots in excess of the number specified in the then current Binding Portion within [***] of receipt of the corresponding Purchase Order, provided that LONZA will use Reasonable Commercial Efforts to accept and fulfill such orders.
During the Term, LONZA will obtain and maintain any licenses, permits and approvals necessary for the manufacture and supply of the Product in the Facility and otherwise perform its obligations under this Agreement, and in the event of any failure to maintain such licenses, permits and approvals, shall use Reasonable Commercial Efforts to remedy such failure as expeditiously as possible.
LONZA will use Reasonable Commercial Efforts to promptly notify CLIENT of any material delays that arise during the performance of the Statement of Work.

More Definitions of Reasonable Commercial Efforts

Reasonable Commercial Efforts means documented efforts that are consistent with those utilized by companies of similar size and type that have successfully developed products and services similar to the LICENSED PRODUCTS claimed by a VALID CLAIM of the LICENSED PATENTS. In determining REASONABLE COMMERCIAL EFFORTS with respect to a particular LICENSED PRODUCT, LICENSEE may not reduce such efforts due to the competitive, regulatory or other impact of any other product or method that it owns, licenses or is developing or commercializing.

Reasonable Commercial Efforts means that the obligated party is required to make a diligent, reasonable and good faith effort to accomplish the applicable objective. Such obligation, however, does not require an expenditure of funds or the incurrence of a liability on the part of the obligated party, nor does it require that the obligated party act in a manner that would be contrary to normal commercial practices in order to accomplish the objective. The fact that the objective is or is not actually accomplished is no indication that the obligated party did or did not in fact utilize its reasonable commercial efforts in attempting to accomplish the objective.

Reasonable Commercial Efforts means the efforts that a prudent Person who desires to complete the applicable obligation or transaction would use in similar circumstances to ensure that such obligation or transaction is completed as expeditiously as possible but without the necessity of assuming any additional material obligations or paying any additional material amounts to any third parties;

Reasonable Commercial Efforts means, with respect to LICENSEE (alone or through its AFFILIATES or SUBLICENSEES), the efforts and resources (measured at the time such efforts are required to be used under this Agreement) which would be used by LICENSEE relating to a certain activity or activities, consistent with its normal business practices, for a product owned by LICENSEE or to which it has rights which such product is at a similar stage of its development or product life and is of a similar market and profitability potential as a LICENSED PRODUCT and taking into account all relevant factors, including, but not limited to, financial, technical, medical, clinical, efficacy, safety and manufacturing considerations, product labeling or anticipated labeling, the patent and other proprietary position of the product, market potential, forecasts for financial return, the regulatory environment and competitive market conditions.

Reasonable Commercial Efforts means documented efforts: (a) that are consistent with those utilized by companies of similar size and type and at a similar stage of corporate development to LICENSEE, which companies have successfully developed therapeutic or prophylactic products similar to the proposed PRODUCTS IN CLASS described in the PLAN and/or services of a type similar to LICENSED METHODS described in the PLAN; and (b) that are consistent with the interests of LICENSEE’s stockholders and the development of a PRODUCT IN CLASS and/or commercial application of LICENSED METHODS and that constitute a prudent and commercially reasonable use of LICENSEE’s capital resources; and (c) that are evidenced by a record of incurring MINIMUM DIRECT COSTS, which shall include the RESEARCH SUPPORT, and additional documented expenditures appropriate to the stage of development of one or more PRODUCTS IN CLASS and/or commercial application of LICENSED METHODS.

Reasonable Commercial Efforts means efforts and resources commonly used in the pharmaceutical industry for a drug of similar commercial potential at a similar stage in its lifecycle, taking into consideration its safety and efficacy, the cost to develop and commercialize the product, its competitiveness compared to alternative products, the proprietary position of the product, the scope, timing and likelihood of regulatory approvals, the profitability of the product and other relevant factors.

Reasonable Commercial Efforts means, with respect to the efforts to be expended by a Party with respect to any objective, reasonable, diligent, good faith efforts to accomplish such objective as typically made by commercial businesses in similar circumstances and context to achieve a particular result in a timely manner and maximize the economic return to the parties from its commercialization but shall not require a Party to take action that would be commercially unreasonable under the particular circumstances and context, but without taking into account alternate opportunities available to such Party.