Arena Conduct of Early Development Sample Clauses

Arena Conduct of Early Development. (a) With respect to the ongoing J&J development program under an Early Development Plan, if J&J does not comply with its diligence obligations under Section 3.7(a) with respect to such Early Development Plan, Arena may, on written notice to J&J (an “Early Development Election”), elect to assume control of conducting the Early Stage Development of the applicable Development Compound under such Early Development Plan. If Arena makes an Early Development Election as to a particular Development Compound and its respective Early Development Plan, then the JSC, and appropriate additional representatives of each Party with development expertise, will meet as soon as possible thereafter and agree on a transition plan for Arena to undertake the control of such Early Development Plan. The Parties shall each act in good faith at such meeting to achieve a plan that effects a transition that is as smooth and efficient and quick as possible. As to such Early Development Plan, Arena shall immediately direct and control the ongoing conduct of development of the Development Compound under the terms of such Early Development Plan using its own resources or a combination of Arena and J&J resources as the Parties agree pursuant to the transition plan. (b) All Development Costs incurred by either Party in the conduct of any Early Development Plan for which Arena has made an Early Development Election shall be shared ** ************************** after such election. Within 20 Business Days of the end of each month during which such Arena-controlled development is ongoing, each Party shall provide to the other a detailed accounting of all Development Costs incurred by such Party in its conduct of such development efforts in accordance with the applicable Early Development Plan(s) and Arena’s direction. The Parties shall then reconcile these reports within 20 Business Days of the end of such month, with the Party that **************************** of the total of such Development Costs incurred by the Parties during the month paying the other Party, within 20 Business Days of such reconciliation, an amount so that each Party bore an equal share of such Development Costs.
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Related to Arena Conduct of Early Development

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  • General Conduct The BSC has specific policies governing conduct in the units, including, but not limited to, assault, harassment, sexual harassment, host, alcohol, party and substance abuse policies. Member agrees to read and abide by these policies. Failure to follow BSC conduct policies will lead to a range of sanctions up to and including termination of this contract and BSC membership.

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