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

BMS will use Commercially Reasonable Efforts to Develop and seek Regulatory Approval of at least one (1) Licensed Product in the Field in the U.S.
Vir Bio and its Affiliates shall use Commercially Reasonable Efforts to maintain each In-License Agreement in full force and effect during the Term.
The Seller shall, or shall cause its Affiliates (as applicable) to, use its or their Commercially Reasonable Efforts to cure any breaches by it under such Out-License or Contract Manufacturing Agreement and shall give written notice to the Buyer upon curing any such material breach.
BMS will use Commercially Reasonable Efforts to, following receipt of Regulatory Approval from the FDA for the applicable Licensed Product, Commercialize at least one (1) Licensed Product for use in the Field in the U.S.
The Seller shall, or shall cause its Affiliates (as applicable) to, use its or their Commercially Reasonable Efforts to cure any material breaches by it under such In-License and shall give written notice to the Buyer upon curing any such breach.

More Definitions of Commercially Reasonable Efforts

Commercially Reasonable Efforts means the taking by a person of such actions as would be in accordance with reasonable commercial practices as applied to the particular matter in question to achieve the result as expeditiously as practicable; provided, however, that such action shall not require that such person shall incur unreasonable expense.

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 a Party, the efforts and resources which would be used (including the promptness in which such efforts and resources would be applied) by that Party consistent with its normal business practices, which in no event shall be less than the level of efforts and resources standard in the pharmaceutical industry for a company similar in size and scope to such Party, with respect to a product or potential product at a similar stage in its Development or product life cycle taking into account efficacy, safety, commercial value, the competitiveness of alternative products of Third Parties that are in the marketplace, and the patent and other proprietary position of such product.

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.