Development Project Proposal Clause Samples
The Development Project Proposal clause outlines the requirements and procedures for submitting a formal plan for a new development project. Typically, this clause specifies the information that must be included in the proposal, such as project scope, timelines, budgets, and objectives, and may set deadlines or review processes for submission and approval. Its core function is to ensure that all proposed development projects are clearly defined and evaluated before proceeding, thereby promoting transparency, feasibility assessment, and alignment with organizational goals.
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Development Project Proposal. By the end of the Feasibility Study, the Joint Steering Committee may direct a Joint Project Team to cooperate with it for the preparation of a Development Project Proposal for submission to the Management Committee, which shall be prepared in light of the results of Screening Activities and the Feasibility Study. The Development Project Proposal shall detail the work plan for the Development Project (including the design, development, optimization, scale-up and validation of a Commercial Strain for production of a Commercial Compound through a fermentation process, the design, development, optimization and scale-up of the downstream processing steps which transform Commercial Compounds into the intended Product(s), technology transfer activities, any regulatory and testing/certification activities for the approval of the Product(s) and any planning activities for transferring the Commercial Strain, Commercial Compound and Product to the JV Company or to a Party as may be agreed hereunder for implementation of the Commercialization Plan), the required competencies, skills and experiences of those persons to be assigned to the applicable activities, a budget that includes corresponding resources and costs, a timeline and a milestone schedule with well-defined milestones associated with Go / No Go decisions and measurable deliverables, including the final milestone which would trigger entry into the production and commercialization phase. It is expected that the preparation of the Development Project Proposal for a specific Candidate Compound, if applicable, will take an average of eight (8) weeks. Each Development Project Proposal shall include a proposed Commercialization Plan for the Product(s) which are intended to result from the proposed Development Project (including the production plan for the use of the relevant Commercial Strains and Commercial Compounds to produce such Product(s), anticipated capital expenditures and operating expenses, timing for market entry and evaluation of market acceptance, supply chain analysis and sharing of the profits in accordance with this Agreement). In addition, each Development Project Proposal for a Candidate Compound shall include an agreed upon scope related to such Development Project within which either Party shall have the ability to pursue improvements as set forth in Section 2.3 (the “Improvement Scope”). The Improvement Scope is intended to give each Party some latitude to improve upon Commercial Strains, C...