PROJECT PLAN AND PROJECT BUDGET Sample Clauses
The 'Project Plan and Project Budget' clause defines the requirement for the parties to establish and agree upon a detailed plan outlining the scope, timeline, deliverables, and associated costs of a project. Typically, this clause specifies that the project cannot commence until both the plan and budget are mutually approved, and it may outline procedures for making changes to these documents during the project. Its core function is to ensure that both parties have a clear, shared understanding of expectations and financial commitments, thereby reducing the risk of disputes over scope or costs during the project.
PROJECT PLAN AND PROJECT BUDGET. Upon designation of a given Antigen as a Collaboration Target pursuant to Section 1.2.2, Medarex and Northwest under the direction of the Steering Committee shall jointly develop and implement a Project Plan (each a "PROJECT PLAN") and Project Budget (each a "PROJECT BUDGET") for the research, development, manufacture and commercialization of Collaboration Antibodies against such Collaboration Target. It is understood that the components of each Project Plan and Project Budget will evolve as the applicable Collaboration Antibodies move through the research, development, manufacture and commercialization life cycle.
PROJECT PLAN AND PROJECT BUDGET. Upon designation of a given Antigen as a Collaboration Target pursuant to Section 1.2.2, Medarex and Seattle Genetics shall jointly develop and implement a Project Plan (each a "Project Plan") and Project Budget (each a "Project Budget") for the research, development, manufacture and commercialization of Collaboration Antibodies against such Collaboration Target. It is understood that the components of each Project Plan and Project Budget will evolve as the applicable Collaboration Antibodies move through the research, development, manufacture and commercialization life cycle.
PROJECT PLAN AND PROJECT BUDGET. From time to time, Medarex and PharmAthene shall jointly develop and implement a project plan (each a "Project Plan") and project budget (each a "Project Budget") for the research, development, manufacture and commercialization of Collaboration Products. It is understood and agreed by the Parties that:
1.3.1 an outline of the initial Project Plan with respect to the Lead Collaboration Antibody is set forth on Appendix E hereto;
1.3.2 within sixty (60) days of the Effective Date, Medarex and PharmAthene will agree to a Project Plan and a Project Budget with respect to the Lead Collaboration Antibody such Project Plan and Project Budget to address activities to be performed during the first calendar year of the Collaboration;
1.3.3 PharmAthene shall pay Two Million United States Dollars (US$2,000,000) (the "Initial PharmAthene Contribution") to Medarex within fifteen (15) days of the Effective Date, which amount shall be used by Medarex solely for purposes of funding activities specified in the initial Project Plan;
1.3.4 The components of each Project Plan and Project Budget will evolve as the applicable Collaboration Products move through the research, development, manufacture and commercialization life cycle, and no later than December 15th of each calendar year, or upon such date as the Steering Committee otherwise determines, the Steering Committee shall agree upon an update to the Project Plan and Project Budget which will specify in greater detail the activities to be undertaken by the Parties during the next calendar year;
1.3.5 the Parties agree that the Project Plan for the Lead Collaboration Antibody will include, at a minimum, those research and development activities described in the two grant proposals submitted by Medarex to the National Institutes of Health/National Institute of Allergy and Infectious Disease (NIH/NIAID) and under which the NIH/NIAID has agreed to fund those activities as performed by Medarex pursuant to the specific activities and milestones outlined in such proposals and the budgets submitted therewith. Such research and development activities to be performed by Medarex under the Government Awards are set forth in Appendix E;
1.3.6 if the Parties disagree as to the nature and scope of any additional activities to be included in the initial Project Plan, then the Project Plan shall be subject to dispute resolution as set forth in Section 2.3; provided that, at a minimum, the activities described in the two grant proposals su...
PROJECT PLAN AND PROJECT BUDGET. Upon designation of a given Antigen as a Collaboration Target pursuant to Section 1.2.2, Genmab/Medarex and deCODE shall jointly develop and implement a Project Plan (each a "PROJECT PLAN") and Project Budget (each a "PROJECT BUDGET") for the research, development, manufacture and commercialization of Collaboration Antibodies against such Collaboration Target. Each initial Project Plan and Project Budget shall include a preliminary timeline that sets forth the anticipated schedule for the development of Collaboration Antibodies against such Collaboration Target (the "ANTICIPATED TIMELINE"), which Anticipated Timeline shall, to the extent possible, highlight possible contingencies that might significantly affect such schedule; provided, however, that the Parties acknowledge and agree that such Anticipated Timeline shall only be an approximation and any failure to comply with such Anticipated Timeline, despite the Parties' Commercially Reasonable Efforts, shall not be deemed to be a default under, or breach of, this Agreement. Additionally, such initial Project Plan shall include the Assays for screening Assay Candidates against such Collaboration Target and the Assay Success Criteria for determining whether such Assay Candidates shall become Collaboration Antibodies, each as identified by the Steering Committee pursuant to Section 1.2.