GSRC definition
Examples of GSRC in a sentence
If this exclusivity agreement is breached, in addition to any other compensation for damages, GSRC and/or its shareholders, jointly and severally, shall promptly upon demand pay to the Company an amount equal to all expenses incurred by the Company in connection with this proposed transaction, including the expenses of their agents, advisors, bankers, investment partners, attorneys, accountants and other representatives.
The operation of the GSRC will be governed by a Steering Committee and monitored by an Advisory Board, the formation and responsibility of which are described in more detail in Article 3.
Gilead and IOCB will jointly establish an advisory board (the “Advisory Board”) to monitor the activities of GSRC, and to serve as a forum for matters unresolved by the Steering Committee.
During the annual Advisory Board meeting, the representatives of the Advisory Board will evaluate the progress and future direction of GSRC and the performance of its Members and the Steering Committee, and will provide guidance and advice as needed for the future direction of the GSRC.
The Advisory Board will determine the dates by which each Member will submit his/her Member Annual Report to the Steering Committee, and the date by which the Steering Committee will submit the GSRC Annual Report to the Advisory Board.
IOCB will establish a steering committee (the “Steering Committee”) for the governance of the operations of GSRC, selection of the Members of GSRC and allocation of the funds to GSRC’s operations.
Upon any termination or expiration of this Term Sheet, none of the Company, GSRC, the shareholders of GSRC or their affiliates shall have any obligation or liability to any other party under this Term Sheet, except with respect to breaches that occurred during the Term.
After receiving the Member Annual Reports from the GSRC Members, the Steering Committee will prepare a summary report for the Advisory Board, describing all research activities conducted by the Members during such calendar year and the results and findings arising therefrom, together with a consolidated research plan and budget for the operation of GSRC for the next calendar year (the “GSRC Annual Report”).
Gilead will appoint an employee of Gilead to serve as the alliance manager (the “Gilead Alliance Manager”) for the management of the relationship among IOCB, GSRC and Gilead.
GSRC and the Steering Committee will use the Donations in compliance with all applicable laws, by-laws and other regulations in the Czech Republic and any other applicable jurisdiction.