Annual True-Up. Within […***…] of the end of the applicable […***…] the Parties will reconcile the costs and expenses set forth in […***…] Expense Reports presented by Dimension in respect of the applicable […***…] (“Total Actual Expenses”) with the sum of the costs and expenses paid by Bayer in respect of the first […***…] Expense Reports plus the Estimated […***…] Payment (“Actual Plus Estimated Expenses”). If the Parties determine that the Actual Plus Estimated Expenses exceed Total Actual Expenses, then the amount of such excess will be credited against the amount due by Bayer in respect of the first […***…] of the following […***…] (or, if no such payment is anticipated, refunded by Dimension to Bayer within […***…] of such determination). If the Parties determine that Total Actual Expenses exceed Actual Plus Estimated Expenses, but that such actual costs and expenses are nonetheless within […***…] of the then-current Research Budget for the applicable […***…], then Bayer will include the excess amount owed to Dimension with the amount due by Bayer in respect of the first […***…] of the next […***…] (or, if no such payment is anticipated, paid by Bayer to Dimension upon receipt of an invoice under the following payment timing terms: if the invoice is received by Bayer at the above address prior to […***…], then payment shall be made by the […***…] in which the invoice was received. If the invoice is received by Bayer at the above address after the […***…], then the payment shall be made by the […***…] in which the invoice was received).
Appears in 4 contracts
Samples: Collaboration and License Agreement (Ultragenyx Pharmaceutical Inc.), Collaboration and License Agreement (Dimension Therapeutics, Inc.), Collaboration and License Agreement (Dimension Therapeutics, Inc.)
