Common use of Diligent Commercialization Clause in Contracts

Diligent Commercialization. Licensee by itself or through its Affiliates and Sublicensees will use diligent efforts to make Licensed Products commercially available in the Field in the Territory. Without limiting the foregoing, Licensee will fulfill the milestone events specified in Section 2.4 of the Patent License Agreement by the deadlines indicated therein and will use Diligent and Commercially Reasonable Efforts to (a) maintain a reasonably funded, ongoing and active research, development, manufacturing, regulatory, marketing or sales program required to make License Products commercially available, and (b) perform and complete the plans described in the annual report submitted pursuant to Section 4.2 (Annual Written Progress Report). The milestone event deadlines set forth in Section 2.4 of the Patent License Agreement will be extended by the number of days of delay reasonably attributable to a Force Majeure. In the event of a Force Majeure Licensee will give prompt notice to Licensor and the Parties shall meet and confer regarding the length of the required extension. If the milestone events specified in Section 2.4 of the Patent License Agreement are not met by the indicated deadlines or if the obligations under this Section 2.4 are not fulfilled, Licensor may treat such failure as a breach in accordance with Section 7.3(b). Licensee: Icosavax, Inc. CONFIDENTIAL Exclusive PLA Exhibit A If Licensee determines that it will be unable to achieve a milestone event set forth in Section 2.4 of the Patent License Agreement by any applicable deadlines indicated therein, [***].

Appears in 2 contracts

Sources: Patent License Agreement (Icosavax, Inc.), Patent License Agreement (Icosavax, Inc.)