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

Without limiting Section 10.1 (Out-Licensing Transactions), each Party will use Commercially Reasonable Efforts to perform the activities assigned to it in the Development Plan in accordance with the timelines set forth therein and in accordance with this Article 6 (Development); provided that, if the Parties have not yet entered into an Out-Licensing Transaction, then [***].
For clarity, such obligation to use Commercially Reasonable Efforts will continue until the Parties enter into an Out-Licensing Transaction in accordance with the terms of this Article 10 (Out-Licensing Transaction).
Each Party will use Commercially Reasonable Efforts to perform the activities assigned to it in the Research Plan in accordance with the timelines set forth therein and in accordance with this Article 3 (Research).
Without limiting Section 10.1 (Out-Licensing Transactions), each Party will use Commercially Reasonable Efforts to perform the activities assigned to it in the Commercialization Plan in accordance with the timelines set forth therein and in accordance with this Article 8 (Commercialization); provided that, if the Parties have not yet entered into an Out-Licensing Transaction, then [***].
Commencing on the DC Identification Date, the Parties will use Commercially Reasonable Efforts to enter into an Out-Licensing Transaction in accordance with the terms of this Article 10 (Out-Licensing Transaction).

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, with respect to each Party and its Affiliates, including with respect to the development, manufacture or commercialization of a Licensed Product, efforts and resources commonly used in by similarly situated biopharmaceutical companies for a product of similar commercial potential [**].