Common use of Preparation of Development Plans Clause in Contracts

Preparation of Development Plans. The initial Development Plan for each Party in its respective Territory is attached hereto as Schedule 3. During the Term, each Party may prepare a revised Development Plan, which shall be prepared by each Party for its respective Territory and submitted to the JAC for review at least twenty (20) days before the meeting of the JAC at which it will be considered. Each Development Plan shall: (a) set forth the Development objectives, including Clinical Trials to be conducted within the Territory and the other Development activities to be conducted, and the timelines applicable to such activities for the period covered by such Development Plan, and (b) be consistent with the other terms of this Agreement. Each amendment, modification and/or update to a Party’s Development Plan shall be set forth in a written document prepared by such Party, and submitted for review to the JAC.

Preparation of Development Plans. The initial Development Plan for each Party in its respective Territory is attached hereto as Schedule 3shall be prepared within 60 days after the Effective Date. During the Term, each Party may prepare a revised Development Plan, which shall be prepared by each Party for its respective Territory territory and submitted to the JAC for review at least twenty (20) days before the meeting of the JAC at which it will be considered. Each Development Plan shall: (a) set forth the Development objectives, including Clinical Trials to be conducted within the Territory respective territory and the other Development activities to be conducted, and the timelines applicable to such activities for the period covered by such Development Plan, and (b) be consistent with the other terms of this Agreement. Each amendment, modification and/or update to a Party’s Development Plan shall be set forth in a written document prepared by such Party, and submitted for review to the JAC.

Preparation of Development Plans. The initial Development Plan for each Party in its respective Territory is attached hereto as Schedule 3. During the Term, each Party may will prepare a revised an initial Development Plan, and subsequent revisions to it, each of which shall be prepared by each Party Company for its respective the Company Territory and Licensor for the Reserved Territory and submitted to the JAC for review at least twenty (20) days before the meeting of the JAC at which it will be considered. Each Development Plan shall: (a) set forth the Development objectives, including Clinical Trials to be conducted within the Territory and the other Development activities to be conducted, and the timelines applicable to such activities for the period covered by such Development Plan, and (b) be consistent with the other terms of this Agreement. Each amendment, modification and/or update to a Party’s Development Plan shall be set forth in a written document prepared by such Party, and submitted for review to the JAC.