Common use of Joint Project Team Clause in Contracts

Joint Project Team. As soon as reasonably practicable after the Effective Date, but in no event later than thirty (30) days following the Effective Date a joint project team composed of an equal number of representatives from each Party (the “Joint Project Team” or “JPT”) and co-chaired by representatives from each Party (the “JPT Chairpersons”) to: (i) recommend to the JSC a strategy for Development and Regulatory Approval of the Licensed Product, all in accordance with the Development Plan; (ii) develop, review, and revise as necessary, the Development Plans, including the Development Plan Budget, once per Calendar Year, all in accordance with the provisions of Article 4, and submit any revisions to the JSC for comment and approval; (iii) review and approve all clinical and non-clinical study protocols of all contemplated Clinical Trials; (iv) oversee the implementation of, and monitor the progress of, the clinical and regulatory program, consistent with the Development Plan, including the allocation of qualified personnel who have specific accountabilities as regards the Development Plan objectives; and (v) seek consensus in any decisions to be made by the JPT and submit any disagreement to the JSC for resolution; (vi) recommend to the JSC a generic name for the Compound; and (vii) perform such other functions requested by the JSC consistent with and subject to the terms of this Agreement.