2nd Generation Device Development Costs Sample Clauses

2nd Generation Device Development Costs. (a) Cap. Arctic Vision shall reimburse Eyenovia for up to [ ] percent ([ ]%) of the Development Costs incurred by Eyenovia or any Affiliate thereof in connection with the Development of the 2nd Generation Device (“Device Development Costs”), up to a maximum reimbursement of [ ] Dollars ($[ ]) (the “Cap”). In no event shall Arctic Vision be obliged pursuant to this Section 5.3 to pay to Eyenovia more than (i) [ ] Dollars ($[ ]) within the first [ ] ([ ]) [ ] after the Effective Date or (ii) the Cap, regardless of the total Device Development Costs, provided that, in the event Eyenovia invoices Arctic Vision for payment of Device Development Costs in excess of [ ] Dollars ($[ ]) during the first [ ] ([ ]) [ ] following the Effective Date, such excess Device Development Costs shall be due within [ ] ([ ]) [ ] after the first anniversary of the Effective Date.