Respective Territory definition
Examples of Respective Territory in a sentence
Unless otherwise set forth in an approved CoDev Product Plan or Global Commercialization Strategy, with respect to the CoDev Products, each Party shall select one or more product trademarks (including backup trademarks) for the CoDev Products for use by such Party in its Respective Territory (including backup trademarks) (the “Product Trademarks”) in line with the agreed upon Global Branding Strategy.
The Party or the Parties that brings or bring such action to enforce a given Intellectual Property Right shall also have the right to control settlement of such claim; provided, however, that if one Party controls, no settlement shall be entered into without the express written consent of at least the Party in whose Respective Territory the action was brought, such consent not to be unreasonably delayed or withheld.
Without limitation to the foregoing, each Party shall in all material respects conform its practices and procedures relating to the Commercialization of the Licensed Product and educating the medical community in its Respective Territory with respect to the Licensed Product to any applicable industry association regulations, policies and guidelines, as the same may be amended from time to time, and Applicable Laws.
Each Party shall be responsible for reporting safety data, adverse events, quality complaints related to the Products to the global safety database and to the applicable Regulatory Authorities in its Respective Territory, as well as responding to safety issues and to all requests of Regulatory Authorities related to the Licensed Product in its Respective Territory, in each case at its own cost.
Each Party shall, to the extent practicable, endeavor to discuss and agree with the other Party whether to recall or withdraw such Optioned Product in the Territory; provided, however, that if such discussion is not practicable or if the Parties fail to agree within an appropriate time period (recognizing the exigencies of the situation), then each Party shall decide whether to recall or withdraw such Optioned Product in its Respective Territory.