definiens: means ( a ) with respect to the efforts to be expen ded by a Party with respect to any objective that is not her einafter described, such reasonable, diligent and good faith efforts and resources, consistent with a pplicable Laws, as such Party would normally use to accomplish a similar objective under similar circumstances, ( b ) with respect to the objective related to the Marketing Authorisation of any Produ ct or New Presentation by [COMPANY], the application by [COMPANY], consistent with the exercise of its prudent scientific judgment, of diligent efforts and resources to fulfill the obligation in issue, consistent with the level of efforts [COMPANY] would normally devote to its own branded product at a similar stage in its product life as such Product or New Presentation, taking into account sc ientific, regulatory factors, and the safety and efficacy of such Product or New Presentation, all b ased on conditions prevailing at the time such efforts are due, provided that [COMPANY] shall be under no obligation 4 to conduct Clinical Trials to obtain Marketing Auth orisation of any New Presentation and any Product or New Presentation, and ( c ) with respect t o the objective related to the Commercialization of a Product or New Presentation, the application by [COMPANY], consistent with the exercise of its business judgement, of diligent efforts and resources to fulfill the obligation in issue, consistent with the level of efforts [COMPANY] would normally devote to its own branded product at a similar stage in its product life as such Prod uct or New Presentation, taking into account competitive market conditions in the therapeutic ar ea, all based on conditions prevailing at the time such efforts are due . In construing whether Fe rrer, alone or with one or more collaborators, used it s Commercially Reasonable Efforts to fulfill an obl igation, it shall not be taken into account any pharmaceutical product [COMPANY] is researching, d iscovering, developing or Commercializing in each of the Countries other than pursuant to this A greement