Common use of Contract Purpose Clause in Contracts

Contract Purpose. 1.1. The goal of the joint research, development and evaluation effort to be conducted is to develop cost-effective point-of-care plasma coagulation assays, for the benefit of both parties hereto. The principal objectives of the research and development efforts are more particularly set forth in the Coagulation Assays Development Plan attached hereto as Annex I and incorporated herein by this reference. The parties may amend Annex I from time to time by executing a revised, restated, dated Annex I and attaching it hereto. 1.2. The parties agree that ITC and Exigent, through the respective employees of each will perform the tasks specified hereto and in Annex I. The parties agree periodically, but not less frequently than quarterly, commencing on the date three months from the Effective Date of this Agreement, to review and revise Annex I, as needed.