Common use of Schedule and Minutes Clause in Contracts

Schedule and Minutes. The representatives of each Committee will mutually agree on the schedule for meetings, it being understood that the JSC shall, prior to Sobi’s Opt-In with respect to a Product, meet quarterly or more frequently as directed by Biogen Idec and, following such Opt-In, quarterly or more frequently as the JSC itself shall decide. A representative of the Party hosting a meeting of a Committee shall serve as secretary of that meeting. The secretary of the meeting shall prepare and distribute to all members of such Committee minutes of the meeting within fifteen (15) days following the meeting to allow adequate review and comment. Such minutes shall provide a description in reasonable detail of the discussions held at the meeting and a list of any actions, decisions or determinations approved by such Committee. Minutes of such Committee’s meeting shall be approved or disapproved, and revised as necessary, at the next meeting of such Committee. The final minutes of any subcommittee shall be provided to its overseeing Committee. The final minutes of the JMDC and JCC shall be provided to the JSC.