Common use of Joint Management Committee Clause in Contracts

Joint Management Committee. The Parties shall establish a Joint Management Committee (the "JMC") to oversee the development and commercialization program for Licensed Product for the Primary Indication and the Secondary Indication, and to facilitate the exchange of information between the Parties. The JMC will generally serve in an advisory capacity with respect to the development and commercialization activities to be performed by Schering under this Agreement, with Schering retaining final decision making authority with respect to all such matters. (a) Composition of the JMC. The JMC shall be composed of up to three (3) representatives from each of Schering and Licensor, and a quorum shall consist of at least one (1) JMC representative from each Party. In any matter before the JMC, each Party shall have one (1) vote, with decisions being made by unanimous decision. Schering shall seriously consider the recommendations and decisions of the JMC. A Party's representatives to the JMC shall serve at the discretion of such Party and may be substituted for or replaced at any time by such Party. The JMC shall be chaired by a representative of Schering. The Chairperson shall be responsible for calling meetings, preparing agendas and

Joint Management Committee. The Parties shall establish a Joint Management Committee (the "JMC") to oversee the development and commercialization program for Licensed Product for the Primary Indication and the Secondary Indication, and to facilitate the exchange of information between the Parties. The JMC will generally serve in an advisory capacity with respect to the development and commercialization activities to be performed by Schering SPL under this Agreement, with Schering SPL retaining final decision making authority with respect to all such matters. (a) Composition of the JMC. The JMC shall be composed of up to three (3) representatives from each of Schering SPL and Licensor, and a quorum shall consist of at least one (1) JMC representative from each Party. In any matter before the JMC, each Party shall have one (1) vote, with decisions being made by unanimous decision. Schering SPL shall seriously consider the recommendations and decisions of the JMC. A Party's representatives to the JMC shall serve at the discretion of such Party and may be substituted for or replaced at any time by such Party. The JMC shall be chaired by a representative of ScheringSPL. The Chairperson shall be responsible for calling meetings, preparing agendas andand preparing and issuing minutes of each meeting within [ * ] thereafter.