Technology failures Clause Samples
A Technology Failures clause defines how parties will address disruptions or failures in technology systems that impact the performance of contractual obligations. Typically, this clause outlines the responsibilities of each party in the event of system outages, data loss, or cyber incidents, and may specify notification procedures, timeframes for resolution, or limitations of liability. Its core function is to allocate risk and clarify expectations, ensuring that both parties understand their duties and remedies if technology issues interfere with contract performance.
Technology failures. The success of e-ScienceTalk will depend in part on the new technologies used to deliver the online content, both the existing elements and the planned new features, such as increased user generated content and interactive online environments. If the wrong technologies are chosen, or advances in web use make these obsolete, there is a risk that the expected growth of the media outputs and the launch of the new products will not be achieved. This risk will be mitigated by using the partners’ expertise in new media and regularly reviewing the channels used. The probability of such failure is low (about 10%), given the expertise and experience available to the project. The impact of such technological failure should also be minimal, since the core communication efforts rely on more established technologies.
Technology failures. In the event the Product experiences significant technical issues that arise out of or relate to the MDTS system, including failure of the MDTS system to deliver testosterone, or another Androgen added to the Field in accordance with this Agreement, in a manner suitable for development or commercialization of a Product in the Field and Territory, inadequate physical or chemical stability of any portion of the MDTS system, issues arising out of any Acrux Penetration Enhancer or any other formulation developed by FemPharm and used in an MDTS system, or other issues that significantly impact the efficacy, toxicity, safety, or ability to obtain approval, then, to the extent that Vivus reasonably concludes that the issue would likely prevent the approval of the Product in the Field and Territory by the FDA or other appropriate regulatory authority or cause the Product to not be commercially viable, Vivus shall have the right, subject to the terms of Section 5.19(b) below, to select for addition to the Field, and development and commercialization in the Territory under this Agreement as an alternate Product, an alternate Androgen (excluding any Androgen (other than a Restricted Androgen) for which FemPharm or its Affiliate has commenced Clinical Trials, or which FemPharm or its Affiliate has licensed to a non-Affiliate third party in a fully arms length transaction, in conformance with Section 2.5(b)) or alternate configuration of the MDTS technology.