Common use of Meeting Requirements Clause in Contracts

Meeting Requirements. The Executive Steering Committee shall meet on a quarterly basis (or less frequently if Pfenex and Hospira mutually agree) during the Term. The Executive Steering Committee may meet by phone, videoconference or in person. Each meeting shall be held on a date to be agreed upon by Pfenex and Hospira. Notwithstanding the foregoing, meetings may be called at any time if requested by one of Pfenex and Hospira by prior written notice, including the corresponding agenda of the meeting, sent to Pfenex and Hospira, as applicable, at least one (1) month in advance; provided, that if a meeting is required to be convened promptly pursuant to this Agreement, Pfenex and Hospira shall exercise Commercially Reasonable Efforts to convene such meeting as promptly as is practicable. Pfenex and Hospira agree that reasonable flexibility is necessary, and therefore, three (3) different dates shall be proposed for each meeting, whenever possible. Meetings shall only be effective if at least one (1) representative designated by Hospira and one (1) representative designated by Pfenex are present or participating in the meeting.