FUNDING OF DEVELOPMENT Sample Clauses

FUNDING OF DEVELOPMENT. Coulter shall bear the cost of all DEVELOPMENT work for Territory A Xxxxxx (as defined in Section 3.2.3) and Cross-Territory Trials (as defined in Section 3.2.3) until Coulter's aggregate DEVELOPMENT COSTS (including, without limitation, xxx XXX expenses and its OUT-OF-POCKET COSTS related to DEVELOPMENT work in TERRITORY A and the NON-USA TERRITORY) reach [*], provided that it is understood that no expenses of Coulter shall be included within the DEVELOPMENT COSTS used to deterxxxx xxe [*] unless such work and related expenses are provided for in the then current JOINT DEVELOPMENT PLAN or are within the category described in Section 1.15(ii). Following the time at which the [*] has been reached.

FUNDING OF DEVELOPMENT. 3.1 Funding under the Joint Cooperative Program shall be paid for by JJMI and SHP. SHP will pay for all of SHP's internal costs relating to facilities, clerical and administrative. SHP shall also pay for all U.S. patent filing, prosecution and maintenance costs relating to patents and patent applications which result from the Joint Cooperative Program. JJMI shall pay for the estimated costs summarized in the attached Exhibit C. 3.2 JJMI will separately fund expenditures on Capital Equipment related to development of two Referenced BCN Products pursuant to the estimated amounts set forth in attached Exhibit C. Any amount in excess of such estimates in Exhibit C shall be paid by the parties as they agree in advance. ("Capital Equipment" shall mean product machinery, molds, fixtures (including, semi-automated and automated equipment costs) and material for prototypes.) JJMI will own the Capital Equipment including product machinery, molds, fixtures, prototypes, etc. regardless of the physical location and may at any time request possession of such Capital Equipment. Upon a request by JJMI, SHP will make available to JJMI all Capital Equipment within five (5) days of written notice.

FUNDING OF DEVELOPMENT. (a) From and after the Effective Date, unless otherwise specifically provided for herein, each of DURECT and NYCOMED shall be responsible for the Development Costs listed below its name in the following table: Fifty percent (50%) of the Development Costs under the JDP for the Product Fifty percent (50%) of the Development Costs under the JDP for the Product [* * *] [* * *] [* * *] [* * *] [* * *] [* * *] * * * Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. (b) With respect to those Development Costs to be shared between DURECT and NYCOMED pursuant to the above table, within [* * *] calendar days after the end of each month, DURECT and/or NYCOMED, as the case may be, shall provide to the other Party an invoice in an amount equal to the proportion of such Development Costs incurred by such Party in such month as in accordance with the JDP. Payment terms shall be net [* * *] days from the date of each Party’s receipt of any correct invoice. Payments shall be sent to the “Remit to” address set forth on the invoice. Each Party shall pay the other a late charge of [* * *] (or the maximum interest allowable by Applicable Law, whichever is less) for each invoice past due for more than [* * *] days from the date of such Party’s receipt of any correct invoice. Should a Party dispute any portion of an invoice, it shall not be required to pay any portion of such invoice until such time as the dispute is resolved and such disputing Party receives a fully corrected invoice; provided that, in such an event, the other Party shall have the option of issuing a new, correct invoice for the portion of the original invoice not in dispute, and the disputing Party shall pay such new invoice within the time limits set forth in this Section 4.5(b).

FUNDING OF DEVELOPMENT. Except for any costs incurred by Alliance in connection with Section 6.3(b) above, the following provisions shall apply to Development performed under this Agreement:

FUNDING OF DEVELOPMENT. (a) Merck shall fund the costs of the Development Program as specified in the development budget under Section 2.4. Nastech shall apply any development funding it receives from Merck under this Agreement solely to carry out its development activities in accordance with the Development Plan, the development budget and the terms and conditions of this Agreement. Merck shall have no obligation to reimburse Nastech for any development activities conducted by Nastech prior to the Effective Date. Notwithstanding anything to the contrary in the foregoing, Nastech shall be compensated for its responsibilities and obligations under Section 3.6 and the Supply Agreement in accordance with the terms and conditions of such Section 3.6 and the Supply Agreement and not under this Section 2.5. (b) To assist the PDT and Merck in establishing and revising the development budget, upon the request of the PDT from time to time, Nastech shall provide estimates of costs Nastech expects to incur, and proposed work plans, for activities assigned to Nastech under the Development Program for the subsequent Calendar Year, or as otherwise requested by Merck. (c) [***]. (d) No later than [***] days following the conclusion of each Calendar Quarter, in which Nastech has performed work under the Development Plan, Nastech shall provide Merck with a report showing satisfactory performance of Nastech's obligations under the Development Program for such Calendar Quarter, and a reconciliation of the amounts actually incurred by Nastech for such work and the Development Cost Advance for such Calendar Quarter. [***].

FUNDING OF DEVELOPMENT. 5.1 Funding under the development of the Licensed Products shall be paid for by Xxxxxxx within 45 days of the date Xxxxxxx has reasonably determined that SSC has met the monthly milestones objectives set forth in Exhibit 4.1 and has been invoiced by SSC or has otherwise been mutually agreed to by the Parties in writing. 5.2 Changes to the development schedule found in Exhibit 4.3 or the key project milestones and funding schedule found in Exhibit 4.1 shall be proposed in writing by either Party and adopted as an amendment to the respective Exhibits only after receipt of written approval.

FUNDING OF DEVELOPMENT. 2.8.1 P&G shall fund the costs of the Development Plan as specified in the budget included in the Development Plan. Any amounts allocated in the Development Plan for activities to be performed by Nastech shall be used by Nastech solely to carry out its development activities in accordance with the Development Plan and the terms and conditions of this Agreement. P&G shall have no obligation to reimburse Nastech for any development activities conducted by Nastech prior to the License Effective Date. Nastech shall be compensated for its activities under the Development Plan [***] In addition to any amounts payable to Nastech pursuant to this Section 2.8, Nastech shall be compensated for its responsibilities and obligations under Section 2.10 and the Supply Agreement in accordance with the terms and conditions of such Section 2.10 and the Supply Agreement and not under this Section 2.8.1. 2.8.2 On a monthly basis, Nastech shall submit an invoice to P&G for work and services actually rendered or costs actually paid during the prior month in accordance with the Development Plan, which P&G shall pay within [***] days of receipt of such invoice. 2.8.3 Nastech shall keep all records relating to invoices submitted pursuant to Section 2.8.2 for not less than [***] years from the date of such invoice. P&G and its designated representatives or advisors shall have the right at P&G’s expense, from time to time during the Agreement Term and for up to [***] years following the Agreement Term to inspect all such records of Nastech to verify such invoices, but P&G shall not be allowed to audit any single calendar year more than once absent a demonstration of a reasonable basis therefor. Nastech shall make its records available for inspection during regular business hours at such place or places where such records are customarily kept, upon reasonable notice from P&G, to the extent reasonably necessary to verify the accuracy of the invoices and payments required hereunder. All information learned in the course of any audit or inspection hereunder shall be deemed Confidential Information and shall be treated in the manner specified in Article XII hereof. If the audit reveals an error in Nastech’s favor which is greater than [***] percent [***] of the amounts due from P&G specified in the invoices, Nastech shall, in addition to immediately remitting to P&G the amount of overpayment, (i) pay for the cost of such audit and (ii) pay interest to P&G at a rate per annum that is [***...

FUNDING OF DEVELOPMENT. 3.1 Teijin agrees to fund MSI's development of the New Products in the amount of three million U.S. Dollars ($3,000,000), to be paid as follows: (a) Two million U.S. Dollars ($2,000,000) on the Effective Date (as defined in Section 8.1) of this Agreement; and (b) One million U.S. Dollars ($1,000,000) within three (3) weeks after receipt by TMSI of MSI's first customer shipment of MSI's Unified Materials Product. MSI estimates that its first customer shipment of the Unified Materials Product will occur on or about December 31, 1993. These amounts (hereinafter referred to as the "Development Funds") shall be paid to MSI by wire transfer to an account designated by MSI. The Development Funds will be expended by MSI as it deems appropriate to achieve substantially the development objectives set forth in Appendix A.

FUNDING OF DEVELOPMENT. Coulter shall bear the cost of all DEVELOPMENT work for Territory A Xxxxxx (as defined in Section 3.2.3) and Cross-Territory Trials (as defined in Section 3.2.3) until Coulter's aggregate DEVELOPMENT COSTS (including, without limitation, xxx XXX expenses and its OUT-OF-POCKET COSTS related to DEVELOPMENT work in TERRITORY A and the NON-USA TERRITORY) reach [*], provided that it is understood that no expenses of Coulter -------- * Confidential Treatment Requested. shall be included within the DEVELOPMENT COSTS used to determine the [*] unless such work and related expenses are provided for in the then current JOINT DEVELOPMENT PLAN or are within the category described in Section 1.15(ii). Following the time at which the [*] has been reached. (a) SB's FTEs who support DEVELOPMENT work after the [*] has been reached shall be included in DEVELOPMENT COSTS and handled as set forth in Section 3.2.6(b); and

FUNDING OF DEVELOPMENT. VIACELL shall pay the following amounts related to the development of Covered Products: (a) TECHNOLOGY TRANSFER AND CLINICAL DEVELOPMENT COSTS. VIACELL shall reimburse GAMETE for costs incurred by Boston IVF to fund clinical development of Covered Products, up to a maximum amount of [**], separate and apart from the reimbursement described in Section 8.1(b). Such amounts shall be paid within 30 days of receipt by VIACELL of the accounting described in Section 8.1(d) below.