Common use of Development Efforts Clause in Contracts

Development Efforts. (i) Fujisawa shall use Diligent Efforts to carry out development of the Licensed Product for the treatment of the Primary Indications in accordance with the Development Plan. If Fujisawa determines that it will be unable to meet any of the Critical Target Dates identified in the Development Plan within six (6) months after the date specified in such Development Plan, it shall notify the JMC within thirty (30) days of such determination. The JMC shall develop a revised Development Plan for the Licensed Product which shall include new Critical Target Dates, provided however, that DTI's JMC representatives must agree to the new Critical Target Dates. In the event DTI's voting representatives do not agree to the Critical Target Dates set forth in the revised Development Plan, then either Party may, at its election, proceed under Section 3.5(c). (ii) DTI shall use Diligent Efforts to carry out the Phase I Trial in accordance with the Development Plan. If DTI fails to, or expects that it will fail to, meet any DTI Target Date, by more than three (3) months, Fujisawa may, at its option, assume control of and complete the Phase I Trial. In such event, the Parties shall cooperate fully and take all necessary steps to obtain the necessary Regulatory Approvals to effectuate the transfer of the Phase I Trial.