Common use of Joint Management Committee Clause in Contracts

Joint Management Committee. Promptly after the Effective Date, the Parties shall form a Joint Management Committee ("JMC") which shall consist of two (2) representatives of each Party with expertise in such disciplines as clinical, regulatory affairs, manufacturing or marketing. One of the Fujisawa representatives shall serve as the chairperson of the JMC. All decisions of the JMC shall be made by a majority vote of the representatives on the JMC; provided, that Fujisawa shall cast the decisive tie-breaking vote in the event that the JMC is unable to come to a decision on any matter, subject to Section 3.5(c). Either Party may bring additional non-voting representatives to the meetings of the JMC so long as such Party provides prior notice at the time Fujisawa is required to provide an agenda under this Section 3.3 to the other Party that it intends to bring such representatives. The JMC shall meet regularly (but in no event less than three times per year) at such times and at such locations as shall be mutually agreed by the Parties. The JMC shall review development activities of DTI and Fujisawa in accordance with the Development Plan including, but not limited to, the choice of contract research organization, consultants, Third Party contract manufacturers and assignment of development activities, the development of new formulations and other product changes, and communication with FDA and other Third Parties. At least 10 business days prior to each regularly scheduled meeting of the JMC, Fujisawa and DTI shall provide a written status report to the JMC concerning its progress with respect to the Development Plan and Fujisawa shall provide an agenda for the upcoming meeting. Promptly after each meeting of the JMC, the chairperson shall provide minutes of such meeting.