Common use of COMMERCIALIZATION STATUS Clause in Contracts

COMMERCIALIZATION STATUS. If Schering is developing a Ribozyme Product or Non-Ribozyme Product, for the period from the end of the Term to the First Commercial Sale of a Ribozyme Product or Non-Ribozyme Product, or at such time Schering makes the decision to stop development of such Ribozyme Product or Non-Ribozyme Product, Schering shall keep RPI informed of its development activities with respect to Ribozyme Product or Non-Ribozyme Product, including without limitation, the commercialization of Ribozyme Product or Non-Ribozyme Product, by semi- annually providing RPI with a written report stating the status of development of each such Ribozyme Product or Non-Ribozyme Product. Schering shall notify RPI of the achievement of Milestones within thirty (30) days thereof and shall promptly inform RPI when Schering terminates development or commercialization of a Ribozyme Product or Non-Ribozyme Product.