Common use of Commercialization Budget Clause in Contracts

Commercialization Budget. At such times as the JCC will deem appropriate, and concurrently with the preparation of the initial Commercialization Plan, each Lead Party (after good faith consultation with the non-Lead Party) will prepare its portion of an initial Commercialization budget (collectively, the “Commercialization Budget”), and the JCC will review and approve such initial Commercialization Budget; it being understood and agreed that, pursuant to Section 6.3, Celgene shall specify the form and contents of the Commercialization Budget for the ROW Territory. Thereafter, the applicable Lead Party (after good faith consultation with the non-Lead Party) will update its portion of the Commercialization Budget at least once in each Calendar Year, (but in any event no later than November 30 of each Calendar Year during the Term) and the JCC will review and approve any such update or any other amendment to the Commercialization Budget. In addition, either Party may request at any time that the JCC consider and approve other updates to the Commercialization Budget.