Common use of Compliance with Codes and Standards Clause in Contracts

Compliance with Codes and Standards. Serono shall promptly notify OSI of and provide OSI with a copy of any correspondence or other reports with respect to promotion of the Product received by Serono from either (i) the Pharmaceutical Research and Manufacturers of America (PhRMA) or the American Medical Association (AMA) relating to its compliance with the Codes or (ii) the ACCME relating to its compliance with the Standards, which correspondence or reports would be reasonably likely to have a significant effect on OSI's ability to Promote or conduct the MSL Activities hereunder.