Formation of Joint Sample Clauses

Formation of Joint. Research Committee; Decision Making ------------------------------------------------------ The Parties shall establish a Joint Research Committee having a total of four (4) members within thirty (30) days after the Effective Date, which shall have responsibility for strategic oversight and management of Research efforts for Products pursuant to the Program Plan. NAEJA and Microcide each shall select two (2) representatives to serve as members of the Joint Research Committee, each of whom shall have senior management responsibilities for the Party appointing such member. Each Party shall have the right at any time to replace its representatives on the JRC. Either Party may designate a substitute for a committee member to participate in a meeting in the event one of that Party's regular committee members is unable to be present at such meeting. As Research of Products progresses, the composition of the Joint Research Committee shall change from time to time to include members from each Party with expertise appropriate for the stage of Research then being conducted. The Joint Research Committee shall be operative during the Program Term. The Joint Research Committee shall make decisions only by unanimous vote after an open discussion of the matters as to which decisions are being made. If the JRC is unable to resolve any disagreement among its members, then the JRC shall submit such disagreement to the Chief Executive Officer of each party, who shall meet within fifteen (15) days of such submission and attempt to resolve such disagreement. If the Chief Executive Officers cannot resolve such dispute, either party shall have the right to initiate dispute resolution pursuant to Section 14.2. [*] Confidential Treatment Requested

Formation of Joint. VENTURE This clause sets out in broad terms the parameters within which the Parties are to co-operate, the purpose of the Management Board (more specifically detailed in clause 5), the name and principal office of the Joint Venture and states that the Financial Interests of each Party in a specific Contract are to be agreed by the Parties beforehand. Note at clause 2.6 that either Party shall be free to pursue a Tender on its own account and outside the operation of the Joint Venture if the Management Board decide not to pursue a Tender after an agreed period of time.

Formation of Joint. VENTURE SECTION 1.1