Common use of Performance Funding Clause in Contracts

Performance Funding. Each Party shall use its respective Commercially Reasonable Efforts to perform the activities allocated to it pursuant to the NP201 Research Plan in accordance with the terms of this Agreement. Merck will perform, at its own cost and expense, any activities for which it is responsible under the NP201 Research Plan. NGM will perform the activities for which it is responsible under the NP201 Research Plan using the Research Funding outlined in Section 4.2. Subject to the foregoing and the terms and conditions of this Agreement (including compliance with the NP201 Research Plan), each Party (and not the Joint NP201 Committee) shall be responsible for managing its own research efforts within the scope of the activities allocated to it pursuant to the NP201 Research Plan and making decisions with respect to its day-to-day conduct in support of such research efforts.