Common use of Payment of Development Costs Clause in Contracts

Payment of Development Costs. Each Party shall be responsible for paying [ * ] Development Costs incurred pursuant to the Development Plan and the Development Budget as provided in Section 3(f), subject to reimbursement as provided herein. Within thirty (30) days after each calendar quarter, each Party shall provide the JDC with detailed information concerning the Development Costs incurred by such Party during such quarter. Promptly after receipt thereof, the JDC will determine the amount, if any, which either Party has paid in excess of the amount to be borne by such Party for such quarter pursuant to Section 3(f) (an "Overpayment"), and shall so notify the Parties. In the event of an Overpayment, the other Party shall pay the amount thereof to the Party making the Overpayment within thirty (30) days after receipt of notice from the JDC that an Overpayment has occurred.

Payment of Development Costs. Each Party shall be responsible for paying [ * ] its share of Development Costs incurred pursuant to the Development Plan and the Development Budget as provided in prepared pursuant to Section 3(f)4.7, subject to reimbursement as provided herein. Within thirty (30) days after each calendar quarter, each Party shall provide the JDC with detailed information concerning the Development Costs incurred by such Party during such quarter. Promptly after receipt thereof, the JDC will determine the amount, if any, which that either Party has paid in excess of the amount to be borne by such Party for such quarter pursuant to Section 3(f) (an "Overpayment")4.8, and shall so notify the Parties. In the event of an Overpaymentoverpayment by a Party of its share of Development Costs in a particular calendar quarter, the other Party shall pay the amount thereof to the Party making the Overpayment overpayment the amount by which such other Party underpaid within thirty (30) days after the underpaying Party's receipt of notice from the JDC that an Overpayment overpayment has occurred.