Common use of Development Order Clause in Contracts

Development Order. (1) If MiniFAB accepts a Development Request, then: (a) MiniFAB will provide TearLab with a revised draft project plan including proposed milestones and payment milestones; and (b) the parties must meet within 20 Business Days of the acceptance to meet and discuss the Development Request with the intent to finalise a Development Order. (2) The parties will act reasonably in negotiating the terms of the Development Order. (3) To avoid doubt, neither party is bound by a Development Request, a Development Order or any obligations to develop a New Product until the relevant Development Order is signed by both parties.

Development Order. (1) If MiniFAB accepts a Development Request, then: (a) MiniFAB will provide TearLab OcuSense with a revised draft project plan plan. including proposed milestones and payment milestones; and (b) the parties must meet within 20 Business Days of the acceptance to meet and discuss the Development Request with the intent to finalise a Development Order. (2) The parties will act reasonably in negotiating the terms of the Development Order. (3) To avoid doubt, neither party is bound by a Development Request, a Development Order or any obligations to develop a New Product until the relevant Development Order is signed by both parties.