Common use of Development Efforts Clause in Contracts

Development Efforts. (a) SG and GNE each agree to use commercially reasonable and diligent efforts to collaborate to develop and bring a Licensed Product to market in the Field. The Parties further agree to cooperate with the other in carrying out the Development Plan. As used in this Agreement, the term commercially reasonable and diligent efforts will mean those efforts consistent with the exercise of prudent scientific and business judgment, as applied to other pharmaceutical products of similar potential and market size by the Party in question.