Common use of Establishment of JSC Clause in Contracts

Establishment of JSC. Within [***] after the Effective Date, the Parties will establish a Joint Steering Committee with the roles set forth in Section 2.1(c) (Role of JSC) (the “Joint Steering Committee” or “JSC”). Each Party will initially appoint [***] representatives to the JSC who shall be the members of the JSC. The JSC may change its size from time to time by mutual consent of its members, provided that the JSC will consist at all times of an equal number of representatives appointed by each of RAPT and Hanmi. The JSC membership and procedures are further described in this Section 2.1 (Joint Steering Committee). Each Party may at any time replace the JSC representatives appointed by such Party by written notice to the other Party.

Establishment of JSC. Within Promptly after the Effective Date and no later than the date which is [***] after subsequent to the Effective Date, the Parties will establish a Joint Steering Committee joint steering committee with the roles set forth in Section 2.1(c) (Role of JSC) (the “Joint Steering Committee” or “JSC”). Each Party will initially appoint [***] representatives to the JSC who shall be the members of the JSC. The JSC may change its size from time to time by mutual consent of its members, provided that the JSC will consist at all times of an equal number of representatives appointed by of each of RAPT Schrödinger and HanmiBMS. The JSC membership and procedures are further described in this Section 2.1 (Joint Steering Committee)2.1. Each Party may at any time replace the appoint different JSC representatives appointed by such Party by written notice to the other Party.