Common use of Joint Development Program Clause in Contracts

Joint Development Program. 2.01. The Parties shall carry out and complete the development activities under this Supplemental Agreement in accordance with the Joint Development Program, as better defined in 2.03. below. The first release of the Feeder Product is targeted for July 1998. 2.02. The above mentioned development activities of the Feeder Product shall be carried out under the guidance of the Committee - Product subdivision, with participation of both Parties' R&D personnel. 2.03. The detailed Joint Development Program (including planned development efforts and activities, development time schedule, list of Italtel and Netr▇ ▇▇▇ormation that may be From time to time the Joint Development Program will be updated to cover product modifications, as required by the market, that will be authorised by the Committee. 2.04. The Parties recognize that time to market is essential for the success of the program; should the program suffer unexpected delays, the Parties will promptly meet to identify remedies. Should the completion of the Joint Development Program suffer - for reason not attributable to a Party - a delay which is likely to prejudice the success of the Feeder Product in the market - and should the Parties fail in good faith to identify appropriate remedies, then either Party shall be entitled to withdraw from the Joint Development Programme without incurring any liabilities towards the other Party.