Joint Development Steering Committee Sample Clauses
The Joint Development Steering Committee clause establishes a governing body composed of representatives from each party involved in a joint development project. This committee is typically responsible for overseeing the progress of the project, making key decisions, resolving disputes, and ensuring that both parties' interests are represented throughout the development process. For example, the committee may set project milestones, approve budgets, or address technical challenges as they arise. The core function of this clause is to provide a structured mechanism for collaborative decision-making and project management, thereby reducing misunderstandings and facilitating smooth cooperation between the parties.
Joint Development Steering Committee. 2.1 On or before the Effective Date, the Parties shall set up the JDSC comprising a minimum of two and a maximum of three representatives from each Party. All member of the JDSC shall have the appropriate experience and qualifications. Either party may on prior written notice supply a suitable substitute for any member.
2.2 The JDSC shall meet on a quarterly basis or more often as the Parties agree at agreed times and places and shall the rest of the time liaise to the extent necessary to facilitate performance of the Project. At meetings of the JDSC the role of chairman shall alternate between the Parties on a meeting by meeting basis but the chairman shall not have casting vote. Each member of the JDSC shall have one vote for any decision made. In the event of a voting deadlock the procedure in Section 2.4 shall apply. The quorum for any meeting of the JDSC shall be one representative from each party, plus the chairman who, in the event of the number of representatives being only two, shall be non-voting.
2.3 The role of the JDSC shall be to:-
2.3.1 elect the Project Manager; and
2.3.2 co-ordinate and supervise the Project, in particular (without limitation) by putting together the Work Plan and each Commercialization Plan. This will entail creating appropriate time lines, milestones and development and regulatory pathways; and
2.3.3 oversee and allocating expenditure and revenue generated; and
2.3.4 oversee applications for Approvals and each Product launch; and
2.3.5 coordinate the generation, protection and enforcement of Joint Technology.
2.4 If on any occasion there is a deadlock in any decision making in the JDSC, the matter in question shall be referred to the chief executive officer (“CEO”) of each Party. If after 30 days of the referral the CEOs are unable to agree on a solution the matter shall subject to Section 2.5 be referred to an independent third party expert experienced in determining issues of the same subject matter as the dispute in question who shall act as an expert not an arbitrator and shall provide a recommendation for the resolution of the dispute and whose costs shall be paid for by the Parties in equal shares. If the Parties cannot agree on who that expert shall be he/she shall be chosen by the President of BioProgress PLC. The Parties acting in good faith, shall consider the recommendation of the expert and shall undertake to comply with the expert’s recommendation in each case but neither Party shall be required to do so if ...
Joint Development Steering Committee. Licensor and Licensee shall establish a joint committee to coordinate and oversee the execution of the Development Plan.
Joint Development Steering Committee