Common use of Role of Committees Clause in Contracts

Role of Committees. Subject to Section 2.1(b) and the other terms and conditions of this Agreement, the Parties shall establish: five (5) specialized joint committees consisting of: (A) one to set the goals and strategy and approve the budgets for the Development, Manufacture and Commercialization of Collaboration Products and to oversee the other committees (such committee, the “Joint Steering Committee” or “JSC”); (B) one to focus on Development, Manufacturing (for Development purposes) and Regulatory Approval of Collaboration Products and other regulatory matters (such committee, the “Joint Development Committee” or “JDC”); (C) one to focus on Commercialization of Collaboration Products (such committee, the “Joint Commercialization Committee” or “JCC”); (D) one to focus on financial matters (such committee, the “Joint Finance Committee” or “JFC”); and (E) one to focus on intellectual property matters (such committee, the “Joint Patent Committee” or “JPC”). Each Committee shall have the responsibilities and authority allocated to it in this Article 2 and elsewhere in this Agreement.