Common use of Joint Development Plan Clause in Contracts

Joint Development Plan. (i) Following Sobi’s exercise of its Opt-In Right with respect to that Product, all Development, Post Opt-In Development and Final Development activities (including those designated as Additional Agreed Activities) for a Product, as well as further medical and development activities for such Product, shall be governed by the Joint Development Plan for such Product. Any Continuing HLDP Activities will be incorporated into the Joint Development Plan. For clarity, each Joint Development Plan shall specify all of the medical and development activities of each Party, whether to be conducted individually or jointly by the Parties, and shall specify which, if any, of such medical and development activities are Additional Agreed Activities. (ii) Biogen Idec shall prepare the first Joint Development Plan prior to Sobi’s exercise of its Opt-In Right. Prior to [**] of each year, the JMDC shall update and the JSC shall approve the Joint Development Plan for each Product. The JMDC may, from time to time, amend or modify the then-current Joint Development Plan. Each Joint Development Plan shall contain sufficient details for each Party to conduct its typical budgeting activities. Notwithstanding anything to the contrary in this Agreement, any Joint Development Plan prepared by Biogen Idec prior to Opt-In shall not be binding on Sobi to conduct any activities, or be responsible for any portion of any costs incurred, after the exercise of its Opt-In Right for a Product, except to the extent such Joint Development Plan is confirmed by the JMDC or JSC after Opt-In.