Payment for Development Activities. [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED.
Payment for Development Activities. Subject to the terms and conditions of this Agreement, PathoGenesis shall pay to AeroGen, by wire transfer to the bank account designated by AeroGen, the Development Costs incurred by AeroGen [*]. The JDT shall develop mutually agreeable budgets and schedules which will establish the maximum amount of Development Costs (such amount is referred to herein as the "Development Cost Limit") to be expended in developing the Clinical Test Inhaler and the Inhaler to the point of completion of an application for Section 510(k) Premarket Notification Clearance ("510(k) Clearance") for the Inhaler. The Development Cost Limit is currently expected not to exceed the sum of [*] in FTE Costs owed to AeroGen (after taking into account the above discount) plus [*] in other direct costs. AeroGen shall account for and calculate the Development Costs in accordance with its internal accounting systems and GAAP (as defined in Section 8.1). AeroGen, in accordance with Section 18.15 hereof, shall allow PathoGenesis reasonable access to AeroGen's books and records in order to verify such Development Costs.
Payment for Development Activities. Alpharma shall pay Shasun's ****, as agreed upon, incurred in the development of the Developed Products and the Development API (the "Development Fee"). Prior to commencing any Development Activities with respect to the Development API or Developed Products, Shasun shall provide Alpharma with: (i) an estimate of the development costs; (ii) proposed development schedule which shall include a date, agreed upon by the parties, for the start of Development Activities (the "Development Start Date"); and (iii) such other information as Alpharma may request as may be necessary for Alpharma to evaluate the feasibility of the Development Activities (the "Development Proposal"). Alpharma shall work with Shasun to reach an agreement on the Development Proposal, which, once approved, shall become the binding budget for such development work. Payment of expenses incurred in connection with such Development Activities will be allocated as follows: (1) **** percent (****%) thirty (30) days after ****; (2) **** percent (****%) thirty (30) days after ****; (3) **** percent (****%) thirty (30) days after ****; and (4) **** percent (****%) thirty (30) days after ****. Alpharma shall pay **** of Shasun's **** incurred in the Development Activities, on the basis of achieving the above milestones, so long as the costs are within the approved budget and meet the requirements of the Milestone Timetable.
Payment for Development Activities. 3.1 In consideration for the development activities undertaken by Artann hereunder, ProUroCare shall provide Artann; 1) the equity set forth in Section 3.2; 2) the milestone payments set forth in Section 3.3, and 3) the retainer fee set forth in Section 3.4.
Payment for Development Activities. (i) As payment for the Development Activities, Licensee shall pay Licensor all of Licensor’s direct costs and indirect costs incurred by Licensor in connection therewith, plus thirty percent (30%) of the total of direct plus indirect costs (“Development Costs”). Direct costs shall include all salaries and wages including all payroll taxes, workers compensation premiums, employee benefits, consultants providing services directly related to the development of the licensed product(s), lab supplies and chemicals, and reasonable and customary charges for items such as future hazardous materials disposal according to local law and regulations. The costs may also include the costs for protection of all intellectual property rights related to and/or other costs arising from the Development Activities, including other legal costs. In addition, to the extent not paid pursuant to prior agreements, the following monthly amounts of expenses may be included in the Development Costs with no need for a voucher: Office Supplies ($500), Travel and Entertainment ($500), External Consultants ($500), and Miscellaneous Expenses ($500) as pursuant to prior agreement and not in addition. Notwithstanding the foregoing, salaries, benefits and other compensatory payments to Xx. Xxxxxx Xxxxxx and Xx. Xxxx Xxxxx (without duplication of amounts paid by Licensee to Xx. Xxxxx directly) from Licensor shall be included as Development Costs without the 30% xxxx-up, and such salaries, benefits and other payments shall be reimbursed in full by Licensee as provided above.
(ii) Before Development Activities begin, Licensee will pay Licensor a deposit of the estimated Development Costs for the first two months of Development Activities, as mutually determined in good faith by the Parties (such deposit, as adjusted pursuant to this Agreement, the “Deposit”). On or before the tenth (10th) business day of each calendar month, Licensor shall provide an invoice of actual Development Costs for the immediately preceding month (an “Invoice”). Within thirty (30) days after receipt by Licensee of each Invoice, Licensee shall pay Licensor the Development Costs covered by such Invoice. Licensor may, but is not required to, use the Deposit to pay any Invoice that is not timely paid, and Licensor may waive any obligation to pay such Deposit from time to time in its discretion.
(iii) Without limitation of any other remedy of Licensor, if payment of any amount reflected on any Invoice or Reconciliation as due t...
Payment for Development Activities. A new Section 3.3(d) shall be added which shall read as follows:
Payment for Development Activities. Except as otherwise provided in this Section 2, through the Completion of Phase II, unless otherwise agreed by the Parties as provided in a Development Plan, BioMarin will be solely responsible for all Development Costs incurred in connection with the Development Activities and Serono shall have no responsibility for payment of such Development Costs. Except as otherwise provided in this Section 2, upon Completion of Phase II, the Parties will share equally the Development Costs incurred in connection with the Development Activities. Further, no party shall be entitled to earn a profit margin on such Development Costs. [****]
Payment for Development Activities. Subject to Section 3.6, by [*****] BioTie shall make the following non-refundable, non-creditable payments to Medarex for development and research costs as follows:
Payment for Development Activities. In addition to the royalty payments set forth in Section 3.4, MiMedx shall pay Offray for the First Phase in accordance with the Fee Schedule dated June 18, 2007 (not to exceed $15,200 US, without prior written consent of MiMedx) between the Parties, attached hereto as Exhibit A. If the first Phase is successful and MiMedx decides to pursue the Second Phase, the Parties shall mutually agree upon reimbursement of and/or payment for reasonable expenses to be paid to Offray for the Second Phase, such Agreement to be in wring and signed by the Party to be charged.
Payment for Development Activities
