Common use of Formation; Purposes Clause in Contracts

Formation; Purposes. Within thirty (30) days after the Effective Date, Aerpio and Licensee will establish a joint development committee (the “JDC”) composed of no more than three (3) representatives of each Party. The JDC will have responsibility for (i) reviewing and overseeing the overall progress of development and manufacturing activities under this Agreement with respect to Licensed Products for use in the Territory and in the Field, including oversight of the various budgets and activities, (ii) overseeing the implementation of all development operational aspects of the arrangements established by this Agreement, and (iii) forming various working group(s) (each, a “Working Group”) to oversee particular projects or activities from time to time and delegating to such Working Group(s) such operational responsibilities as the JDC may determine necessary or desirable. In conducting its activities, including in the allocation of activities to the Parties under each Development Plan, the JDC will operate and make its decisions consistent with the terms of this Agreement.

Formation; Purposes. Within thirty (30) days after the Effective Implementation Date, Aerpio Nogra and Licensee will establish a joint development committee (the “JDC”) composed of no more than three (3) representatives of each Party. The JDC ), which will report to the JSC and have responsibility for (i) reviewing coordinating and overseeing providing oversight to various Working Groups that report to the JDC, (ii) monitoring and facilitating the overall progress of development Development and manufacturing Manufacturing activities under this Agreement with respect to Licensed Products for use in each of the Territory and Indications in the Field, including oversight of the various budgets and activities, (iiiii) overseeing the implementation of all development Development operational aspects of the arrangements collaboration established by this Agreement, and (iiiiv) forming various working group(sadditional Working Group(s) (each, a “Working Group”) to oversee particular projects or activities from time to time and delegating to such Working Group(s) such operational responsibilities as the JDC may determine necessary or desirable, which may include Working Groups for clinical/regulatory, and safety review, as the JDC determines appropriate or the JSC directs. In conducting its activities, including in the allocation of activities to the Parties under each the Global Development Plan, the JDC will operate and make its decisions consistent with the terms of this Agreement.