Termination for Withdrawal. Each party agrees to notify the other immediately of any pending or threatened event of which the party is aware, which may lead to withdrawal of the Product from the market, including without limitation: (a) actual or threatened regulatory action by the FDA or other governmental entity; (b) safety concerns relating to the Product; or (c) entry of an injunction or other court order prohibiting or enjoining Novartis or Reliant from marketing the Product in the Territory. The final decision as to whether to withdraw the Product shall be within Novartis’ sole discretion, although Reliant may make recommendations regarding any such proposed action. This Agreement may be terminated at any time with written notice by either party if the Product is withdrawn from the market in the Territory, but, in any such event, settlement of any amounts owed by either party to the other shall be promptly made. Any such withdrawal and/or termination shall not impact on either party’s rights and/or remedies accrued prior thereto.
Appears in 5 contracts
Samples: Promotion Agreement (Reliant Pharmaceuticals, Inc.), Promotion Agreement (Reliant Pharmaceuticals, Inc.), Promotion Agreement (Reliant Pharmaceuticals, Inc.)
