Common use of Meetings and Minutes Clause in Contracts

Meetings and Minutes. The Parties shall hold meetings of the Steering Committee as mutually agreed by the Parties (but in no event less than once each calendar quarter) to review the Development Program and to discuss future activities under this Agreement. The first meeting of the Steering Committee shall be held within thirty (30) days of the Effective Date. Minutes of all meetings setting forth decisions of the Steering Committee, including with respect to the Development Program, shall be prepared by one of the Parties, each Party alternating assuming this responsibility at each meeting, and circulated to both Parties within fifteen (15) days after each meeting, but minutes shall not become official until approved by both Parties (which approval the Parties shall use reasonable efforts to give within fifteen (15) days of receipt of such minutes).