Common use of Cost Improvement Program Clause in Contracts

Cost Improvement Program. Parent will continue its cost improvement program for cannula manufacturing, with the goal, but not a guarantee, of cost reduction. The Joint Operations Group shall discuss cannula production cost improvements in its quarterly meetings until commencement of the Termination Period. The Parties will also discuss in good faith appropriate allocations of any resulting savings, including potential impact on Product Price, after deducting actual, direct and documented costs of the improvement implementation, with any such allocations to be mutually agreed upon by the Parties.