Common use of Joint Development Team Clause in Contracts

Joint Development Team. The parties will form a Joint Development Team (the “JDT”). The JDT will meet on a schedule to be determined by the parties but not less than twice yearly and will be responsible for facilitating the exchange of preclinical data, clinical data, information, materials and results between Sublicensor and Sublicensee and for consulting on the regulatory development of Product in the Sublicense Territory, including regulatory filings relating to manufacture of Product for the Sublicense Territory and consultation as to changes in specifications or other changes for Product in the Sublicense Territory. As of the Effective Date, the parties agree that participation on, and any duties associated with, the JDT shall be voluntary, and no penalty under this Agreement shall apply for non-participation.