Common use of JDC Responsibilities Clause in Contracts

JDC Responsibilities. The JDC shall be responsible for the following items as they relate to its applicable Licensed Molecule and corresponding Licensed Products in the Territory: (i) coordinating the initial transfer of ASCENTAGE Know-How from ASCENTAGE to INNO; (ii) creating, reviewing and approving the Development Plan, including all material updates, amendments, modifications, and waivers of provisions thereof by consensus of all of its members; (iii) reviewing and evaluating the progress of the Development and regulatory strategies and Development Plans for each Development program, including without limitation all health, safety and quality concerns; (iv) oversight, review and coordination of the Development strategy, Development Plan, regulatory activities and budget for the Development of the applicable Licensed Product, provided that, any proposed budget overage that is more than ten percent (10%) will need to be approved by the JSC, and without such approval such overages will be borne by the Party with operational control over the relevant activities; (v) monitoring the progress of work being done under the Development Plan; (vi) performing such other Development functions as the Parties may mutually agree in writing, except where in conflict with any provision of this Agreement; and (vii) creating IIT policy, joint review and approval of the IIT plan and budget.