Common use of Updates to the Development Plan Clause in Contracts

Updates to the Development Plan. On an annual basis (no later than [ * ] of each Calendar Year), the Party appointed by the JDC shall prepare amendments to each then-current Development Plan and each Development Budget. Each such amended Development Plan shall cover the next Calendar Year and shall contain a corresponding Development Budget. Each such updated and amended Development Plan shall reflect any changes, re-prioritization of studies within, reallocation of resources with respect to, or additions to Development of the applicable Collaboration Product. The amended Development Plan and Development Budget shall be submitted to the JDC for review and, following such review, to the JSC for its review and approval. Once approved by the JSC, the amended Development Plan and Development Budget shall become effective on January 1 of each Calendar Year and shall be in full force throughout such Calendar Year unless further amended in accordance with this Section 3.3(c). In any event, any amended or updated Development Plan and Development Budget shall supersede the previous Development Plan and Development Budget.

Updates to the Development Plan. On an annual basis (no later than [ * [*] of each Calendar Year), the Party appointed by the JDC shall prepare amendments to each then-current Development Plan and each Development Budget. Each such amended Development Plan shall cover the next Calendar Year and shall contain a corresponding Development Budget. Each such updated and amended Development Plan shall reflect any changes, re-prioritization of studies within, reallocation of resources with respect to, or additions to Development of the applicable Collaboration Product. The amended Development Plan and Development Budget shall be submitted to the JDC for review and, following such review, to the JSC for its review and approval. Once approved by the JSC, the amended Development Plan and Development Budget shall become effective on January 1 of each Calendar Year and shall be in full force throughout such Calendar Year unless further amended in accordance with this Section 3.3(c). In any event, any amended or updated Development Plan and Development Budget shall supersede the previous Development Plan and Development Budget.