Common use of Amendments and Updates Clause in Contracts

Amendments and Updates. The JPT shall review the Development Plan for each Collaboration Program on a regular basis, and in no event less frequently than [***] Calendar Year. Either Party, through its representatives on the JPT, may propose amendments to a Development Plan and the associated Development Budget for a given Collaboration Program from time to time. In any event, an updated Development Plan, including the associated Development Budget, for each Collaboration Program shall be provided by the JPT (and approved by the JSC as required) no later than December 1 of each Calendar Year. If such revised Development Plan (and associated Development Budget) is not approved by the JSC, then, until such time as an updated Development Plan for such Collaboration Program is approved by the JSC in accordance with Section 2.3.6: (a) the then-current Development Plan (and associated Development Budget) shall continue to govern the Parties’ Development activities under this Agreement with respect to the applicable Collaboration Program; and (b) each Party shall be obligated to conduct Development activities allocated to such Party under such then-current Development Plan and shall be permitted to incur Development Costs consistent with such associated Development Budget, which Development Costs shall be shared by the Parties in accordance with Section 8.6.