Transition Committees Clause Samples
A Transition Committees clause establishes a formal group or committee responsible for overseeing and managing the transition process during significant organizational changes, such as mergers, acquisitions, or restructurings. This committee typically includes representatives from both parties involved and is tasked with coordinating activities, resolving issues, and ensuring that key milestones are met throughout the transition period. By clearly defining the roles, responsibilities, and authority of the transition committee, this clause helps facilitate a smooth and organized changeover, minimizing disruptions and ensuring accountability.
Transition Committees. The Parties will establish working committees to actively manage the transition by INEX to Hana of the responsibilities for Development of each Product during the initial twelve (12) months following the Effective Date of the Definitive Agreements. Such working committees will conduct periodic planning and review meetings as well as ad hoc meetings as necessary. The primary method of meeting will be teleconference. Responsibilities of the working committees may include overseeing the planning and monitoring of the clinical and regulatory Development process and Technical Transfer process. All such meetings of the working committees shall be conducted at Hana’s sole cost and expense.
Transition Committees. The parties agree that following the date hereof, they shall cooperate with each other and shall take such actions as are reasonably required or requested for the purpose of facilitating the occurrence of the following mutually agreed actions at or prior to the Closing: (i) the transfer of the assets listed on Section 6.7 of the Seller Disclosure Schedules and the verification of such transfers, (ii) the implementation of the Transition Services Agreement, and (iii) the establishment of arrangements designed to provide the Companies and their Subsidiaries with the categories of services and arrangements and the types of assets set forth on Schedule 3.20.
Transition Committees. Buyer, AMCI and Seller agree that following the date hereof, they shall cooperate with each other and shall take such actions as are reasonably required or requested for the purpose of facilitating the occurrence of the following mutually agreed actions at or prior to the Closing: (i) the transfer of the assets listed on Section 6.7 of the Seller Disclosure Schedules and the verification of such transfers, (ii) the implementation of the Transition Services Agreement, and (iii) the establishment of arrangements designed to provide the Companies and their Subsidiaries with the categories of services and arrangements and the types of assets set forth on Schedule 3.20.