New Development Plan

New Development Plan. Means a development plan presented to Baxter by Accentia, presented in reasonable detail including commercially reasonable timeline estimates and detailed budget commitment estimates (including demonstration of available funds or detailed plan to obtain necessary funds), with respect to an indication not previously included in the definition of "Exclusive Clinical Field." Each "New Development Plan" (a) shall include a milestone to provide written evidence to Baxter in sufficient detail (i.e.,... the submission of an IND or NDA to the FDA) of a plan to begin clinical trials within one hundred eighty (180) days or as mutually agreed; and (b) shall be certified as such by an officer of Accentia and shall have been previously approved by Accentia's board of directors or the audit committee of Accentia's board of directors (provided such audit committee has suitable authority to do so), with evidence of such approval provided to Baxter. View More