Common use of Development Notifications Clause in Contracts

Development Notifications. In the event that Renovis in good faith believes that Genentech is not meeting its development obligations as set forth in Section 3.2(a) and 3.2(e) with respect to a given Genentech Product or Compound, Renovis may provide Genentech with written notice thereof. Within sixty (60) days of such notice, Genentech shall do one of the following: (i) provide Renovis with reasonably satisfactory evidence that Genentech is meeting such obligations; (ii) provide Renovis with reasonably satisfactory evidence that Genentech has commenced activities sufficient to meet such obligations; or (iii) provide Renovis with reasonably satisfactory evidence that it is not commercially reasonable for Genentech to pursue development of the applicable Genentech Product or other Compound.