Commercially Reasonable Effort definition

Commercially Reasonable Effort means the efforts and resources customarily used in the industry by a company of similar size for a product with an equivalent sales and profit potential to the Final Product.
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Commercially Reasonable Effort means, with respect to a Party, those efforts and resources, as applicable, relating to a certain activity or activities, including, without limitation, the research, development and commercialization of a Product (hereinafter defined) in accordance with such Party’s business, legal, medical and scientific judgment, such reasonable efforts and resources to be in accordance with the efforts and resources a reasonably comparable pharmaceutical company would use for a product owned by it, or to which it has rights, which is of similar market potential, at a similar stage in its product life, taking into account the competitiveness of the marketplace, regulatory status, relative safety and efficacy of such product, product profile, and reimbursement considerations. Commercially Reasonable Efforts will be determined on a country-by-country basis for the applicable Licensed Compound or Product, and the level of effort that is necessary to constitute Commercially Reasonable Effort will change over time, reflecting changes in the status of such Licensed Compound or Product (as applicable) and the market or country involved.
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Commercially Reasonable Effort means efforts that use a standard of reasonableness defined by what a similar person would do to accomplish the ultimate goal, as judged by the standards of the applicable business community.
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Examples of Commercially Reasonable Effort in a sentence

  • In addition, unless prohibited by Applicable Laws, Licensee shall use Commercially Reasonable Effort to include Exelixis’ corporate trademark on the packaging and product information (i.e. SmPC) of the Products sold in the Licensee Territory to indicate that the Product is licensed from Exelixis.

  • SUBLICENSOR shall use its Commercially Reasonable Effort to provide supply of LFB-R603 as required for the Development and Commercialization of LFB-R603 when and as required by ILDONG for the Development of Products in the Territory.

  • For ** (i) Kissei shall provide an estimate of Units Sold within ** after the end of each Calendar Quarter, and (ii) Kissei shall use Commercially Reasonable Effort to calculate and report to Rigel in writing the Units Sold within ** after the end of each Calendar Quarter but in no event later than ** after the end of each Calendar Quarter.

  • Notwithstanding Section 3.1, in the event that either Party’s Transmission Provider ceases to maintain an OATT at any time during the Contract Term, that Party agrees that it shall use Commercially Reasonable Effort to obtain sufficient transmission capacity for delivery of the applicable amount of the Energy to/from the Delivery Point, as applicable.

  • The purpose of this letter is to notify IDC of MedImmune’s desire to extend the date that MedImmune is obligated to initiate Commercially Reasonable Effort under the Agreement related to *** (“*** Agreement”).

  • For ** (i) Kissei shall provide an estimate of ANS within ** after the end of each Calendar Quarter, and (ii) Kissei shall use Commercially Reasonable Effort to calculate and report to Rigel in writing the ANS in such Calendar Quarter within ** after the end of each Calendar Quarter but in no event later than ** after the end of each Calendar Quarter.

  • Successful fundraising and initiation of development of a Non-Topical Licenced Product in line with the current Development Plan within [***] from the Effective Date will be considered a Commercially Reasonable Effort towards the development of a Non-Topical Licenced Product for the initial [***] period from the Effective Date.

  • The Seller shall cooperate with the Buyer's efforts in this regard and the Seller shall use each and every Commercially Reasonable Effort to assist in the transfer or reissuance when so requested by the Buyer.

  • The Licencee will use Commercially Reasonable Effort to raise monies from investors as described in Schedule 6 to discharge its obligations under this Agreement (including pursuant to Clause 3 and Clause 4).

  • Eisai represents and warrants that it has or will obtain, at its Commercially Reasonable Effort, the skill and expertise in the technical areas relating to the Bukwang Patents and Bukwang Know-How to make or have made an evaluation of the capabilities, safety, utility and commercial application of the Bukwang Patent and the Bukwang Know-How.


More Definitions of Commercially Reasonable Effort

Commercially Reasonable Effort means, with respect to a Party, those efforts and resources, as applicable, relating to a certain activity or activities, including, without limitation, the research, development and commercialization of a Product in accordance with such Party's business, legal, medical and scientific judgment, such reasonable efforts and diligence to be in accordance with the efforts and resources a reasonably comparable pharmaceutical company would use for a product owned by it, or to which it has rights, which is of similar market potential, at a similar stage in its product life, taking into account the establishment of the Product in the marketplace, the competitiveness of the marketplace, the proprietary position of the Product, the regulatory structure involved, the profitability of the Product and other relevant factors.
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Commercially Reasonable Effort means, with respect to a Party, those efforts and resources, as applicable, relating to a certain activity or activities, including, without limitation, the research, development and commercialization of a Product (hereinafter defined) in accordance with such Party's business, legal, medical and scientific judgment, such reasonable efforts and diligence to be in accordance with the efforts and resources a reasonably comparable pharmaceutical company would use for a product owned by it, or to which it has rights, which is of similar market potential, at a similar stage in its product life, taking into account the establishment of the Product in the marketplace, the competitiveness of the marketplace, the patent or proprietary position of the Product, the regulatory structure involved, the profitability of the Product, the safety and efficacy of the Product, the stage of its development or product life, the clinical setting in which it is expected to be used, and other conditions then prevailing. [**Redacted**]. It is understood that a Party’s Commercially Reasonable Effort will not in any event require that Party to take any action that would be reasonably likely to result in a breach of any other provision of this Agreement, or that the Party in good faith believes may violate any Applicable Laws or any order, or direction of any court or governmental authority having appropriate jurisdiction over the Party and subject matter.
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Commercially Reasonable Effort means, with respect to a Party, those efforts and resources relating to a certain activity or activities, including, without limitation, the research, development and commercialization of the Product in accordance with the efforts and resources a reasonably comparable pharmaceutical company would use for a product owned by it, or to which it has rights, which is of similar market potential, at a similar stage in its product life, taking into account the establishment of the Product in the marketplace, the competitiveness of the marketplace, the proprietary position of the Product, the regulatory structure involved, the profitability of the Product and other relevant factors.
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Commercially Reasonable Effort means reasonable efforts and resources customarily used in the nuclear medicine pharmaceutical industry in the United States for radiopharmaceutical oncology products with equivalent sales potential to the Product.
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Commercially Reasonable Effort means the effort, time, and costs a prudently managed company desirous of achieving a result would use, expend, or incur in similar circumstances to achieve such outcome, provided that such outcome is within the reasonable control of the company and the company is not required to expend funds or assume liabilities beyond those that are commercially reasonable in nature and amount in the context of the transaction.
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Commercially Reasonable Effort means, with respect to any objective referred to in this Agreement, prompt, accurate, complete, appropriate, responsive and diligent effort, made in a professional and workmanlike manner, using properly qualified individuals and, in any event, a level of effort to achieve such objective equal to or exceeding the level of effort to achieve the same or similar objectives generally used by other professional Information Technology companies providing similar services as the Services referred to in this Agreement and its Annexures.
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Related to Commercially Reasonable Effort

  • Commercially Reasonable Efforts means [***].

  • Commercially Reasonable or “Commercially Reasonable Efforts” means, with respect to any action required to be made, attempted or taken by a Party under this Agreement, the level of effort in light of the facts known to such Party at the time a decision is made that: (a) can reasonably be expected to accomplish the desired action without a material increase in costs incurred by such Party; (b) is consistent with Prudent Industry Practices; and (c) takes into consideration the amount of advance notice required to take such action, the duration and type of action and the competitive environment in which such action occurs.

  • Reasonable Efforts means, with respect to any action required to be made, attempted, or taken by an Interconnection Party or by a Construction Party under Tariff, Part IV or Tariff, Part VI, an Interconnection Service Agreement, or a Construction Service Agreement, such efforts as are timely and consistent with Good Utility Practice and with efforts that such party would undertake for the protection of its own interests.

  • Best Efforts the efforts that a prudent Person desirous of achieving a result would use in similar circumstances to ensure that such result is achieved as expeditiously as possible.

  • Commercially Useful Function means responsibility for the execution of a distinct element of the work of the contract, which is carried out by actually performing, managing, and supervising the work involved, evidencing the responsibilities and risks of a business owner such as negotiating the terms of (sub)contracts, taking on a financial risk commensurate with the contract or its subcontract, responsibility for acquiring the appropriate lines of credit and/or loans, or fulfilling responsibilities as a joint venture partner as described in the joint venture agreement.