Common use of Obligation to Exploit Clause in Contracts

Obligation to Exploit. Licensee shall use commercially reasonable efforts to bring one or more Licensed Products to market and to meet the market demand therefor. Beginning November 30, 1995 and semi-annually thereafter, Licensee shall deliver to The Regents a progress report covering Licensee's activities related to the development and testing of Licensed Products and the obtaining of any applicable governmental approvals necessary for marketing Licensed Products. Licensee shall make these progress reports until the first commercial sale of a Licensed Product occurs anywhere in the world. Progress reports submitted by Licensee pursuant to this Section 12.1 shall include, but not be limited to, the following topics: (a) summary of work completed, (b) summary of work in progress, (c) current schedule of anticipated milestones, and (d) market plans for introduction of Licensed Products, and (e) number of full-time equivalent (FTEs) employees or agents working on the development of Licensed Products.

Obligation to Exploit. Licensee shall use commercially reasonable efforts to bring one or more Licensed Products to market and to meet the market demand therefor. Beginning November 30, 1995 and semi-annually thereafter, Licensee shall deliver to The Regents a progress report covering Licensee's ’s activities related to the development and testing of Licensed Products and the obtaining of any applicable governmental approvals necessary for marketing Licensed Products. Licensee shall make these progress reports until the first commercial sale of a Licensed Product occurs anywhere in the world. Progress reports submitted by Licensee pursuant to this Section 12.1 shall include, but not be limited to, the following topics: (a) summary of work completed, (b) summary of work in progress, (c) current schedule of anticipated milestones, and (d) market plans for introduction of Licensed Products, and (e) number of full-time equivalent (FTEs) employees or agents working on the development of Licensed Products.