Common use of Plans and Budgets Clause in Contracts

Plans and Budgets. The Research Program will be carried out in accordance with the Research Plan and Budget then in effect. By October 1 of each calendar year, Focal and/or the Developing Party shall propose to the Research Committee appropriate modifications, if any, of the Research Plan and Budget for the next succeeding year, and upon approval of such modifications of the Research Plan and Budget by the Research Committee, such modified plans and budgets shall be reflected in the Research Plan and Budget for purposes of this Agreement. In addition, the Research Committee shall review the Research Plan and Budget on an ongoing basis and may modify the Research Plan and Budget as the Research Committee shall approve from time to time.