Company Proposal of Joint Applications Sample Clauses

Company Proposal of Joint Applications. Company may propose pursuing with Gen-Probe joint development and commercialization of CUDA and NATs and other consumables for use with CUDA for Joint Applications from time to time following the first anniversary of the Effective Date and prior to any Company Event. Company will make any such proposal regarding a Joint Application to Gen-Probe in writing, which proposal shall include: (i) a description of the Joint Application; (ii) a proposed development and commercialization timeline for such Joint Application; (iii) a proposed minimum annual development expenditure for such Joint Application; and (iv) a proposed royalty for such Joint Application. Gen-Probe will appoint a person from Gen-Probe (the “Alliance Manager”) who will be responsible for all aspects of Gen-Probe’s relationship with Company, including responsibility for presenting all proposals regarding Joint Applications to Gen-Probe’s senior management for consideration. All such proposals made by Company pursuant to this clause (c) will be processed by the Alliance Manager in a timely fashion and reviewed and considered by Gen-Probe in good faith. Gen-Probe shall notify Company in writing within 45 days of receipt of the notice (including all of the information to be included with such notice), whether or not Gen-Probe is willing to undertake joint development and commercialization of such Joint Application. If Gen-Probe is willing to undertake joint development and commercialization for such Joint Application, then the parties shall use good faith efforts to mutually agree upon an allocation of development funding for such Joint Application as well as an allocation of commercial rights, it being understood that it is expected that Gen-Probe will in most cases be responsible for commercialization of such Joint Application and will compensate Company on sales of CUDA and NATs and other consumables for use with CUDA for such Joint Application.
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