Decision-Making Principles Sample Clauses
The Decision-Making Principles clause establishes the foundational guidelines or criteria that parties must follow when making decisions under the agreement. Typically, this clause outlines the values, priorities, or procedures that should guide choices, such as requiring consensus, majority vote, or adherence to specific ethical standards. By clearly defining how decisions are to be approached and resolved, this clause helps prevent disputes and ensures that all parties have a shared understanding of the decision-making process.
Decision-Making Principles. All decision-making hereunder shall be conducted in accordance with the following principles (collectively, the “Principles”): [***].
Decision-Making Principles. The members of each committee shall use Commercially Reasonable Efforts to reach consensus on any disputes concerning the matters within their roles and functions. Thereby, voting rights must not be exercised in a way that is reasonably likely to have a material adverse safety, regulatory or financial impact on the development or commercialization of Product in the respective other Party’s territory. Resolutions of each Committee shall be in accordance with this Agreement. No Committee shall have the authority to alter or amend the terms of this Agreement.
Decision-Making Principles. All decision-making hereunder shall be conducted in accordance with the following principles (collectively, the “ Principles ”): [***]. Specific terms in this Exhibit have been redacted because such terms are both not material and are of the type that the Company treats as private or confidential. These redacted terms have been marked in this Exhibit with three asterisks [***].