Common use of Formation; Composition; Dissolution Clause in Contracts

Formation; Composition; Dissolution. Within 30 days after the Effective Date, the Parties will establish a committee (the “Joint Development Committee” or “JDC”) to coordinate the Development of the Licensed Products by Licensee and its Related Parties in the Licensee Territory. Each Party will initially appoint one representatives to the JDC, with each representative having knowledge and expertise in the Development of molecules and products similar to the Licensed Products and having sufficient seniority within the applicable Party to provide meaningful input and make decisions arising within the scope of the JDC’s responsibilities. The JDC may change its size from time to time by mutual consent of the Parties, provided that the JDC will consist at all times of an equal number of representatives of each of Eureka and Licensee. Each Party may replace its JDC representatives at any time upon written notice to the other Party. The JDC may invite non-members to participate in the discussions and meetings of the JDC, provided that such participants have no voting authority at the JDC and are bound under written obligations of confidentiality and non-use no less protective of the Parties’ Confidential Information than those set forth in this Agreement. The JDC will be chaired by a chairperson designated by Licensee, whose responsibilities will include conducting meetings, including, when feasible, ensuring that objectives for each meeting are set and achieved. The JDC will exist for so long as at least one Licensed Product is being Developed under this Agreement.

Formation; Composition; Dissolution. Within 30 days after the Effective Date, the Parties will establish a committee (the “Joint Development Steering Committee” or “JDCJSC”) to coordinate oversee the Development and Commercialization of the Licensed Products by Licensee and its Related Parties in the Licensee Territory. Each Party will initially appoint one representatives representative to the JDCJSC, with each representative having knowledge and expertise in the Development and Commercialization of molecules and products similar to the Licensed Products Products, and having sufficient seniority within the applicable Party to provide meaningful input and make decisions arising within the scope of the JDCJSC’s responsibilitiesresponsibility. The JDC JSC may change its size from time to time by mutual consent of the Parties, provided that the JDC JSC will consist at all times of an equal number of representatives of each of Eureka and Licensee. Each Party may replace its JDC JSC representatives at any time upon written notice to the other Party. The JDC JSC may invite non-members to participate in the discussions and meetings of the JDCJSC, provided that such participants have no voting authority at the JDC JSC and are bound under written obligations of confidentiality and non-use no less protective of the Parties’ Confidential Information than those set forth in this Agreement. The JDC JSC will be chaired by a chairperson designated by LicenseeEureka, whose responsibilities will include conducting meetings, including, when feasible, ensuring that objectives for each meeting are set and achieved. The JDC JSC will exist for so long as the JDC or JCC exists or there is at least one Licensed Product is being Developed or Commercialized under this Agreement.

Formation; Composition; Dissolution. Within 30 thirty (30) days after the Effective Date, the Parties will establish a committee to coordinate the Development of Licensed Products (the “Joint Development Committee” or “JDC”) to coordinate the Development of the Licensed Products by Licensee and its Related Parties in the Licensee Territory. Each Party will initially appoint one three (3) representatives to the JDC, with each representative having knowledge and expertise in the Development of molecules and products similar to the Licensed Products and having sufficient seniority within the applicable Party to provide meaningful input and make decisions arising within the scope of the JDC’s responsibilities. The JDC may change its size from time to time by mutual consent of the Parties, provided that the JDC will consist at all times of an equal number of representatives of each of Eureka C▇▇▇▇▇ and Licensee. Each Party may replace its JDC representatives at any time upon written notice to the other Party. The JDC may invite non-members to participate in the discussions and meetings of the JDC, provided that such participants have no voting authority at the JDC and are bound under written obligations of confidentiality and non-use no less protective of the Parties’ Confidential Information than those set forth in this Agreement. The JDC will be chaired by a chairperson designated by LicenseeC▇▇▇▇▇, whose responsibilities will include conducting meetings, including, when feasible, ensuring that objectives for each meeting are set and achieved. The JDC will exist for so long as at least one Licensed Product is being Developed under this Agreement.