CALCULATION OF PROFIT OR LOSS. The total profit (or loss) for a calendar quarter will be calculated by Amgen by first deducting from Ivory Net Revenues for such quarter a percentage of such Ivory Net Revenues equal to the Inventorship Margin, which will be paid to Amgen to reflect Amgen’s inventorship of Ivory; and then deducting from the remaining Ivory Net Revenues the GSK Costs and Amgen Costs reported by the Parties pursuant to Sections 6.1.1 (GSK Costs) and 6.1.2 (Amgen Costs). The resulting amount will be the “Collaboration Profit (Loss)” for such quarter, which will be shared by the Parties equally.
CALCULATION OF PROFIT OR LOSS. Profit or Loss shall be calculated for each Calendar Quarter by determining the Net Sales of Co-Development Products, adding any Other Income and subtracting the sum of the Allowable Expenses incurred during such Calendar Quarter. Notwithstanding the foregoing, on a Calendar Year-to-date basis, Allowable Expenses shall not be included in such calculation if such expenses are in excess of the amounts allocated for such Calendar Year-to-date period, in the budget for Commercialization approved by the JSC; provided, however, that Allowable Expenses in excess of the Commercialization budget shall be included in the calculation of Profit or Loss in (i) if the JSC approves such excess Allowable Expenses (either before or after they are incurred), which approval shall not be unreasonably withheld to the extent the Allowable Expenses in excess of the applicable budget were not within the reasonable control of the Party (or Party’s Affiliate) incurring such expense or (ii) to the extent such excess does not [***] in the applicable Calendar Year-to-date period in accordance with the Commercialization budget for such Calendar Year. If any excess Allowable Expenses are excluded from sharing by the Parties for a particular Calendar Year-to-date period pursuant to the foregoing sentence, such excess Allowable Expenses shall be carried forward to subsequent Calendar Quarters (provided that such Calendar Quarters fall within the same Calendar Year) and, to the extent the total Allowable Expenses incurred by such Party and its Affiliates for the Calendar Year-to-date as of the end of such subsequent Calendar Quarter are less than [***] of the aggregate Allowable Expenses allocated to such Party under the commercialization budget for such Calendar Year-to-date period, such carried forward amounts shall be included in Allowable Expenses to be shared by the Parties for such Calendar Year-to-date period (i.e., so that the total Allowable Expenses incurred by such Party and its Affiliates that are shared pursuant to this paragraph do not exceed [***] of the Allowable Expenses allocated to such Party under the commercialization budget, unless otherwise approved by the JSC).
CALCULATION OF PROFIT OR LOSS. The Profits or Losses for Product will be equal to: ** All calculations hereunder will be made using, and all defined and undefined terms will be construed in accordance with, U.S. generally accepted accounting principles ("GAAP"), consistently applied, and consistent with generally accepted methods for activity-based project costing for similar products in similar industries. Without limiting the foregoing, no cost item subject to sharing by the Parties hereunder will be included more than once in calculating Profits or Losses.
CALCULATION OF PROFIT OR LOSS. The Profit or Loss for each Licensed Product will be determined on a product-by-product basis and will be equal to: (i) Sublicense Revenues outside the Territory plus Net Sales (as defined below) in the Territory, less (ii) Allowable Costs and Expenses (each as defined below), plus or minus (iii) Net Interest Income of a Party in connection with the development, manufacturing, marketing or selling of such Licensed Product, plus or minus (iv) Other Non-Operating and Extraordinary Gains (Losses) incurred by a Party in connection with the development, manufacturing, marketing or selling of Licensed Products, all as more fully described below. All calculations hereunder will be made using, and all defined and undefined terms will be construed in accordance with, U.S. generally accepted accounting principles, consistently applied, and consistent with generally accepted methods for activity-based project costing for similar products in similar industries. Without limiting the foregoing, no cost item subject to sharing by the Parties hereunder will be included more than once in calculating Profit or Loss. The Parties anticipate that Signal will not incur expenses which are included in the Profit or Loss calculation unless Axys and Signal have agreed that Signal will incur such expenses.
CALCULATION OF PROFIT OR LOSS. The Profit or Loss for each Product will be determined on a product-by-product basis and will be equal to: (i) Sublicense Revenues plus Net Sales (as defined below), less (ii) Allowable Costs and Expenses (each as defined below), plus or minus (iii) Net Interest Income of a Party in connection with the development, manufacturing, marketing or selling of such Product, plus or minus (iv) Other Non-Operating and Extraordinary Gains (Losses) incurred by a Party in connection with the development, manufacturing, marketing or selling of Products, all as more fully described below. All calculations hereunder will be made using, and all defined and undefined terms will be construed in accordance with, U.S. generally accepted accounting principles, consistently applied, and consistent with generally accepted methods for activity-based project costing for similar products in similar industries. Without limiting the foregoing, no cost item subject to sharing by the Parties hereunder will be included more than once in calculating Profit or Loss. The Parties anticipate that the non-selling Party will not incur expenses which are included in the Profit or Loss calculation applicable to the selling Party's Product unless the selling Party and the non-selling Party have agreed that the non-selling Party will incur such expenses.
CALCULATION OF PROFIT OR LOSS. The Profit or Loss for each Research Lead, Development Candidate or Product shall be determined on a product-by-product basis and shall be equal to: (i) Revenues plus Net Sales of Products (as defined in the Agreement) in the Territory, less (ii) Allowable Costs and Expenses and Costs of Goods Sold (each as defined below), plus or minus (iii) Net Interest Income of a Party in connection with the development, manufacturing, marketing or selling of such Research Lead, Development Candidate or Product, plus or minus (iv) Other Non-Operating and Extraordinary Gains (Losses) incurred by or on behalf of a Party in connection with the development, manufacturing, marketing or selling of Research Leads, Development Candidates or Products, all as more fully described below. Each Party shall calculate and maintain detailed records of its Allowable Costs and Expenses and Costs of Goods Sold and shall report to the RDMC or CMC, as appropriate, and to the other Party such Allowable Costs and Expenses and Costs of Goods Sold on a monthly basis (or at such other intervals as the RDMC or CMC shall direct) by the end of the month following the end of the applicable month. All calculations hereunder shall be made using, and all defined and undefined terms shall be construed in accordance with, U.S. generally accepted accounting principles, consistently applied, and consistent with generally accepted methods for activity-based project costing for similar products in similar industries. Without limiting the foregoing, no cost item subject to sharing by the Parties hereunder shall be included more than once in calculating Profit or Loss. The Parties anticipate that neither Party shall incur expenses which are included in the Profit or Loss calculation unless the RDMC or CMC, as applicable, has agreed that such Party shall incur such expenses.
