Commercially Reasonable Efforts definition

Commercially Reasonable Efforts means [***].

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Commercially Reasonable Efforts means efforts which are designed to enable a Party, directly or indirectly, to satisfy a condition to, or otherwise assist in the consummation of, the transactions contemplated by this Agreement and which do not require the performing Party to expend any funds or assume liabilities, other than expenditures and liabilities which are reasonable in nature and amount in the context of the transactions contemplated by this Agreement.

Commercially Reasonable Efforts means (i) with respect to any objective by any party, commercially reasonable, diligent, good faith efforts to accomplish such objective as such party would normally use to accomplish a similar objective under similar circumstances; and (ii) with respect to any objective relating to the development or commercialization of any product by any party, efforts and resources normally used by such party with respect to a product owned by such party at a similar stage in the development or life of such product.

Examples of Commercially Reasonable Efforts in a sentence

• Licensee, by itself or through an Affiliate of Licensee or Sublicensee, shall use Commercially Reasonable Efforts to Develop and Commercialize Licensed Products in the Field in the Territory.

• Licensor will use Commercially Reasonable Efforts to maintain any Patent within the Licensed Patent Rights; provided that to the extent Licensor is unable to provide such maintenance, Licensor shall promptly inform Licensee as such and Licensee shall have the right (but not the obligation), in its sole discretion and at its cost, to provide such maintenance.

• Neurocrine shall apply Commercially Reasonable Efforts to the Development of at least one Product in the Exclusivity Field in the Territory at its own cost and expense.

• Neurocrine shall maintain, or cause to be maintained, consistent with the application of Commercially Reasonable Efforts, all Regulatory Documentation and final supporting records and documentation therefor (but not draft records or documentation therefor except as otherwise required by Applicable Law), in sufficient detail and in compliance with Applicable Law.

• Without limiting the generality of the foregoing, Licensee shall use its Commercially Reasonable Efforts to prepare, obtain, and maintain Regulatory Approvals and Regulatory Filings for Licensed Products in the Field in the Territory.

More Definitions of Commercially Reasonable Efforts

Commercially Reasonable Efforts means the commercially reasonable efforts that a prudent Person desirous of achieving a result and having an incentive to and interest in achieving such result would use to achieve that result as expeditiously as reasonably possible under the circumstances;

Commercially Reasonable Efforts means the carrying out of such obligations or tasks with a level of effort and resources consistent with commercially reasonable practices normally devoted by a pharmaceutical company based on conditions then prevailing including issues of safety and efficacy, product profile, competitiveness of alternative products in the market place, pricing and reimbursement for the Product, the likely timing of the Product’s entry into the market and other relevant technical and commercial factors.

Commercially Reasonable Efforts means taking such steps and performing in such a manner as a well-managed company would undertake where such company was acting in a determined, prudent, and reasonable manner to achieve the particular result for its own benefit provided always that such steps are within the reasonable control of the Party;

Commercially Reasonable Efforts means efforts that are reasonable under the circumstances for a well managed company in the securities processing industry.

Commercially Reasonable Efforts means with respect to the efforts to be expended by a Party with respect to any objective, [***].

Commercially Reasonable Efforts means, with respect to any action required to be made, attempted, or taken by a Party under this Agreement, such efforts as a reasonably prudent business would undertake for the protection of its own interest under the conditions affecting such action, including the amount of notice of the need to take such action, the duration and type of the action, the competitive environment in which such action occurs and other material considerations.

Commercially Reasonable Efforts means efforts and resources normally used by a Party for a compound or 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, the proprietary position of the compound or product, the regulatory structure involved, the profitability of the applicable products, and other relevant factors.