Development Costs incurred Sample Clauses
The 'Development Costs incurred' clause defines the responsibility for and recognition of expenses related to the development phase of a project. It typically outlines which party is liable for costs such as labor, materials, and third-party services that arise during development, and may specify how these costs are documented and reimbursed. This clause ensures transparency and agreement on financial obligations, helping to prevent disputes over payment and budget overruns during the project's execution.
Development Costs incurred by the Contractor in the Contract Area upto the date of first Commercial Production shall be aggregated, and the Contractor shall be entitled to recover out of the Cost Petroleum the aggregate of such Development Costs at the rate of one hundred percent (100%) per annum of such Development Costs beginning from the date of such Commercial Production.
Development Costs incurred prior to Opt-In. Except as set forth below, GENENTECH shall be reimbursed by ROCHE for fifty percent (50%) of all of GENENTECH's Development Costs incurred in connection with a Product prior to the date on which ROCHE has exercised its option for such license under Sections 2 and 3 of Article II. GENENTECH shall choose the method for reimbursement from among those set forth in the Financial Appendix. If ROCHE exercises its option for a license for a Product after notice of the Phase III Completion Date for that Product, GENENTECH will be reimbursed by ROCHE for fifty percent (50%) of all of GENENTECH's Development Costs incurred in connection with that Product prior to the date of GENENTECH'S notice to ROCHE of the Phase II Completion Date for that Product and seventy-five percent (75%) of all of GENENTECH's Development Costs incurred in connection with that Product after the date of the notice to ROCHE of the Phase II Completion Date and prior to the exercise of ROCHE's option for a license to the Product after receipt of the notice of the Phase III Completion Date. If ROCHE has paid an Option Extension Fee for a Product, $5,000,000 shall be credited against the Development Costs reimbursable by ROCHE at the time of the exercise of the option following receipt of notice of the Phase III Completion Date.
Development Costs incurred from and including 1st January 2016. Subject to the rest of this Clause 4.17(D)(3), Genmab shall not be required to make any payment to GSK for Development Costs incurred from and including 1st January 2016. Subject to Clause 4.17(D)(1), GSK shall however be entitled to [***]
Development Costs incurred by the Parties in connection with Development activities conducted for the Product under this Agreement (including [*]) in accordance with the Global Development Plan shall be shared as Net Profit/Net Loss in accordance with Section 5.1 and the other applicable terms and conditions of this Agreement. For clarity, any Development activities conducted by or on behalf of SGI or its Affiliates or their Sublicensees for countries in the Royalty Territory that are not included in the Global Development Plan shall be at SGI’s sole cost and expense, and shall not be shared as Net Profit/Net Loss hereunder.