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. [ * ] = 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.