Common use of Commercialization Responsibilities Clause in Contracts

Commercialization Responsibilities. During the Term and subject to ISU’s rights under Section 2.4, Catalyst or its sublicensees shall be responsible for all aspects of the Commercialization of each Product in the Field in the Territory, including using Commercially Reasonable Efforts to: (i) develop and execute a commercialization plan, (ii) negotiate with applicable Governmental Authorities regarding the price and reimbursement status of Products; (iii) market and promotion; (iv) booking sales and distribution and performance of related services; (v) handling all aspects of order processing, invoicing and collection, inventory and receivables; (vi) providing customer support, including handling medical queries, and performing other related functions; and (vii) conforming its practices and procedures to Applicable Laws relating to the marketing, detailing and promotion of Products in the Territory. Catalyst or its sublicensee shall have decision-making authority and bear all of the costs and expenses incurred in connection with such Commercialization activities. Consistent with Section 2.3, Catalyst may enter into agreements with Third Parties to license Commercialization rights to the Product or otherwise strategically partner the Product to facilitate Commercialization in the Territory.