Common use of Composition of the Steering Committee Clause in Contracts

Composition of the Steering Committee. The Steering Committee shall xxxxxx the collaborative relationship between the parties and shall in particular monitor the progress of the Development Program and Impax’s progress with respect to the ANDA Products. The Steering Committee shall be comprised of two (2) named representatives of Impax and two (2) named representatives of Medicis. Each party shall appoint its respective representatives to the Steering Committee from time to time, and may substitute one or more of its representatives, in its sole discretion, effective upon notice to the other party of such change but shall use commercially reasonable efforts to maintain stability of Steering Committee representation. The Steering Committee shall not have the power to amend the terms of this Agreement but shall have the power to change the Development Plan upon agreement of at least one (1) representative of the Steering Committee from each party.