Common use of Operations Council Clause in Contracts

Operations Council. The parties shall appoint an Operations Council consisting of an equal number of representatives, but no less than four, from each party. The Operations Council shall meet regularly, but no less frequently than quarterly. The Operations Council shall also convene at any time at the request of either party so long as such party provides one week's notice to the other party. The Operations Council will be responsible for the folllowing: (a) Reviewing Requirements Forecasts and production capacities; (b) Reviewing and approving actual and projected expenditures for research and development and capital acquisition; (c) Adjusting pricing and delivery targets at specified intervals; (d) Reviewing process costs, process costs multipliers, process yields and yield drivers; (e) Reviewing lead times including queue times and factory cycle times; (f) Reviewing summaries of research and development progress prepared by ▇-▇ TSMD, including summaries of research and development funded by ▇-▇ TSMD that adds to the value of the Intellectual Property Rights of the parties.

Operations Council. The parties shall appoint an Operations Council consisting of an equal number of representatives, but no less than four, from each party. The Operations Council shall meet regularly, but no less frequently than quarterly. The Operations Council shall also convene at any time at the request of either party so long as such party provides one week's notice to the other party. The Operations Council will be responsible for the folllowingfollowing: (a) Reviewing Requirements Forecasts and production capacities; (b) Reviewing and approving actual and projected expenditures for research and development and capital acquisition; (c) Adjusting pricing and delivery targets at specified intervals; (d) Reviewing process costs, process costs cost multipliers, process yields and yield drivers; (e) Reviewing lead times Lead Times including queue times and factory cycle times;; and (f) Reviewing summaries of research and development progress prepared by ▇▇▇▇▇▇▇-▇ TSMD▇▇▇▇▇▇▇, including summaries of research and development funded by ▇▇▇▇▇▇▇-▇▇▇▇▇▇▇ TSMD that adds to the value of the Intellectual Property Rights of the parties.