definiens: means, with respect to ( i ) achieving any objectiv e by Licensee, using diligent, good faith efforts to accomplish such obj ective as a similarly situated pharmaceutical or bi otechnology company would normally use to accomplish a similar objective under similar circumstances ; and ( ii ) wit h respect to any objective relating to the development or commercialization of any Licensed Product or Licens ed Service by Licensee means those efforts and reso urces that would be used by Licensee with regard to the d evelopment, manufacture and commercialization of biopharmaceutical products owned by it or to which it has rights, that is of similar market and profit potential, at a similar stage in development or product life ( inc luding without limitation the promptness with which such efforts and resources would be applied ) as the appl icable Licensed Product or Licensed Service and con sistent in scope with those that would be applied by a similar ly situated pharmaceutical or biotechnology company to the development and pursuit of regulatory approval of t herapeutic candidates of commercial potential simil ar to the applicable Licensed Product or Licensed Service, in each case, taking into account all relevant factor s, but in any case without regard to any payments owed to The Reg ents under this Agreement