SUBSEQUENT DEVELOPMENT PLAN Clause Samples
SUBSEQUENT DEVELOPMENT PLAN. On or before July 1st of each year commencing in the year that the MAA for Initial Approval is filed with the EMEA or such earlier year as the Parties may agree, Amersham shall develop and present to the JDC a draft Subsequent Development Plan that reflects the goals and Development Budget for any activities proposed by Amersham to be carried out to develop the Product in the Territory other than in connection with the Initial Approval. The JDC shall review and, if necessary, revise such draft updated Subsequent Development Plan. The JDC shall present the resulting draft updated Subsequent Development Plan to the CSC for the upcoming calendar year on or before September 1st of each year. The CSC may approve, revise or request that the JDC revise the draft updated Subsequent Development Plan. The CSC shall approve an updated Subsequent Development Plan for the upcoming calendar year on or before October 1st of the preceding calendar year.
SUBSEQUENT DEVELOPMENT PLAN. Each Party shall have the opportunity to provide input and suggestions with regard to such Subsequent Development Plan. Notwithstanding the foregoing, Licensors shall have the sole right to prohibit any activity related to any Development under a Subsequent Development Plan pursued by the Licensee as Developing Party if Licensors exercise a tie breaking vote as set forth in Section 4.4.1. If Licensors prohibit such activity, the JSC and the Developing Party shall comply with such decision and such activity shall be excluded from the Subsequent Development Plan. The Subsequent Development Plan shall be updated by the Developing Party in accordance with the next sentence and be presented to the JSC at its next meeting. Material modifications to the Subsequent Development Plan shall be submitted to the JSC for review.
SUBSEQUENT DEVELOPMENT PLAN. On or before [*], Amersham shall develop and present to the JDC a draft Subsequent Development Plan that reflects the goals and Development Budget for any activities proposed by Amersham to be carried out to develop the Product in the Territory other than in connection with the Initial Approval. The JDC shall review and, if necessary, revise such draft updated Subsequent Development Plan. The JDC shall present the resulting draft updated Subsequent Development Plan to the CSC for the upcoming calendar year on or before [*] of each year. The CSC may approve, revise or request that the JDC revise the draft updated Subsequent Development Plan. The CSC shall approve an updated Subsequent Development Plan for the upcoming calendar year on or before [*] of the preceding calendar year.
SUBSEQUENT DEVELOPMENT PLAN. The Management Committee may from time to time adopt subsequent Development Plan(s) with respect to a Commercial Discovery. The Operator shall prepare and submit to the Management Committee a subsequent Development Plan which shall be sufficiently detailed and comprehensive in scope to provide a basis for calculating Development Expenditures and determining Work Program and Budget requirements. The subsequent Development Plan should demonstrate that the proceeds from the sales of the quantities of Crude Oil forecasted to be produced is sufficient to recover the Petroleum Operations Expenditures, royalty and tax and allow for a reasonable return on investment. If such subsequent Development Plan is approved by the Management Committee, Operator shall implement such subsequent Development Plan without unreasonable delay.