Common use of Governance Committees Clause in Contracts

Governance Committees. The Parties shall establish (a) a Joint Development Committee (“JDC”) to oversee Development of Emricasan in the Research Field during the Research Term and (b) a Joint Partnering Committee (“JPC”) to oversee Commercialization activities for the Products. The JDC and JPC shall have decision-making authority with respect to the matters within its purview to the extent expressly and as more specifically provided herein, it being understood and agreed that with respect to any Product that becomes subject to a Qualifying Strategic Partnership, neither the JDC nor JPC shall have any review or decision-making authority as of the effective date thereof with respect to such Product(s).