Global Development Plan/Budget Sample Clauses
Global Development Plan/Budget. Each Party shall use Commercially Reasonable Efforts to perform the Development activities allocated to it under the then-current Global Development Plan/Budget in accordance with the timelines set forth therein.
Global Development Plan/Budget. Promptly following the Effective Date and in any event prior to execution of the Definitive LRRK2 Collaboration and License Agreement, the JSC will (a) consider in good faith (i) each Party’s proposal for an initial plan for the Development of LRRK2 Licensed Compounds and LRRK2 Licensed Products for the Territory, and a budget for such activities and (ii) any feedback provided by a Regulatory Authority on such plan and (b) agree upon such plan and budget (the “Global Development Plan/Budget”), and such initial Global Development Plan/Budget approved by the JSC shall be attached to the Definitive LRRK2 Collaboration and License Agreement as an exhibit. Such Global Development Plan/Budget (as amended in accordance with the procedures outlined below) shall describe the Development activities (along with an estimated budget and timeline of such activities) with respect to the LRRK2 Licensed Compounds and LRRK2 Licensed Products to be conducted by or on behalf of each of Denali and Biogen to obtain Regulatory Approval of the LRRK2 Licensed Products in the Territory, and, unless otherwise agreed by the Parties, shall provide that a LRRK2 Licensed Product containing DNL-151 will be the subject of the initial clinical studies set forth in the initial Global Development Plan/Budget. The Global Development Plan/Budget will include a meaningful allocation of Development activities to each Party, provided that to the extent not specified in this Provisional Collaboration and License Agreement, the Definitive LRRK2 Collaboration and License Agreement or in the Global Development Plan/Budget, the JSC shall allocate responsibility as between the Parties with respect to the Development activities set forth in such Global Development Plan/Budget. In any event, the Global Development Plan/Budget will include timelines for the performance of each clinical study for a LRRK2 Licensed Product to be initiated and other material Development activities for the LRRK2 Licensed Products.