Common use of Quarterly Statements; Quarterly Reconciliation Clause in Contracts

Quarterly Statements; Quarterly Reconciliation. Within twenty (20) days after the end of each of the first three (3) calendar quarters of each year and within fifty (50) days after the end of each calendar year, each of GTC and Genzyme shall provide ATIII LLC with a detailed itemization of its Program Costs actually incurred during the previous quarter. Each of GTC and Genzyme shall provide the other Party with estimates of such costs upon the reasonable request of the other Party prior to the dates such statements are due. Within thirty (30) days following receipt of the quarterly statement of actual Program Costs provided by each of GTC and Genzyme, GTC and Genzyme shall each make an additional capital contribution to ATIII LLC in the amount of any actual Program Costs shown thereon and not yet paid for which such Party has assumed funding responsibility pursuant to Section 4.1 above but only to the extent that such amount, together with all prior capital contributions to date during such year, does not exceed one hundred five percent (105%) of the total Program Costs budgeted year-to-date through the end of the quarter to which such statement relates (except to the extent such excess is approved by the Steering Committee pursuant to Section 5.1.3 hereof). If the aggregate amount stated to be due from ATIII LLC in such quarterly statements for actual Program Costs is less than the amount already contributed by the Parties to the capital of ATIII LLC with respect to budgeted Program Costs for such calendar quarter, such excess shall be credited pro rata against the next successive monthly capital contribution due from Genzyme or GTC hereunder.

Quarterly Statements; Quarterly Reconciliation. Within twenty thirty (2030) days after the end of each of the first three (3) calendar quarters of each year and within fifty sixty (5060) days after the end of each calendar year, each of GTC Dyax and Genzyme shall provide ATIII Kallikrein LLC with a detailed itemization of its Program Costs actually incurred during the previous quarter. Each of GTC Dyax and Genzyme shall provide the other Party with estimates of such costs upon the reasonable request of the other Party prior to the dates such statements are due. Within thirty (30) days following receipt of the quarterly statement of actual Program Costs provided by each of GTC Dyax and Genzyme, GTC Dyax and Genzyme shall each make an additional capital contribution to ATIII Kallikrein LLC in the amount of any actual Program Costs shown thereon and not yet paid for which such Party has assumed funding responsibility pursuant to this Section 4.1 above 4.3 but only to the extent that such amount, together with all prior capital contributions to date during such year, does not exceed one hundred five ten percent (105110%) of the total Program Costs budgeted year-to-date through the end of the quarter to which such statement relates (except to the extent such excess is approved by the Steering Committee pursuant to Section 5.1.3 hereof). If the aggregate amount stated to be due from ATIII Kallikrein LLC in such quarterly statements for actual Program Costs is less than the amount already contributed by the Parties to the capital of ATIII Kallikrein LLC with respect to budgeted Program Costs for such calendar quarter, such excess shall be credited pro rata against the next successive monthly capital contribution due from Genzyme or GTC Dyax hereunder.

Quarterly Statements; Quarterly Reconciliation. Within twenty five (205) business days after the end of each of the first three (3) calendar quarters of each year and within fifty two (502) days calendar weeks after the end of each calendar year, each of GTC Genzyme and Genzyme Aptein shall provide ATIII LLC the other Party with a detailed itemization of its Program Costs as follows: the itemization for the first two months of each calendar quarter shall be the Program Costs actually incurred during those two months and the previous itemization for the third month of each quarter may include estimates. The itemization for each subsequent calendar quarter shall then include a reconciliation of all estimated amounts reported during the prior quarter. Each of GTC and Genzyme Party shall provide the other Party with estimates of such costs upon the reasonable request of the other Party prior to the dates such statements are due. Within thirty (30) business days following receipt of the quarterly statement of actual Program Costs provided by each of GTC Genzyme and GenzymeAptein, GTC and Genzyme each Party shall each make an additional capital contribution to ATIII LLC in pay the amount other, by payment or offset against amounts then due from the other, its share of any actual Program Costs shown thereon and not yet paid for which such Party has assumed funding responsibility pursuant to Section 4.1 above above, but only to the extent that such amount, together with all prior capital contributions to date during such year, does not exceed one hundred five percent (105%) [***] of the total Program Costs budgeted year-to-date through the end of the quarter to which such statement relates (except to the extent such excess is approved by the Steering Committee pursuant to Section 5.1.3 hereof). If the aggregate amount stated to be due from ATIII LLC a Party in such quarterly statements for actual Program Costs is less than the amount already contributed by the Parties to the capital of ATIII LLC such Party with respect to budgeted Program Costs for such calendar quarter, such excess shall be credited pro rata against the next successive monthly capital contribution quarterly payment due from Genzyme or GTC such Party hereunder.

Quarterly Statements; Quarterly Reconciliation. Within twenty thirty (2030) days after the end of each of the first three (3) calendar quarters of each year and within fifty sixty (5060) days after the end of each calendar year, each of GTC Dyax and Genzyme shall provide ATIII Kallikrein LLC with a detailed itemization of its Program Costs actually incurred during the previous quarter. Each of GTC Dyax and Genzyme shall provide the other Party with estimates of such costs upon the reasonable request of the other Party prior to the dates such statements are due. Within thirty (30) days following receipt of the quarterly statement of actual Program Costs provided by each of GTC Dyax and Genzyme, GTC Dyax, on behalf of the Dyax Companies, and Genzyme shall each make an additional capital contribution to ATIII Kallikrein LLC in the amount of any actual Program Costs shown thereon and not yet paid for which such Party has assumed funding responsibility pursuant to Section 4.1 4.2 above but only to the extent that such amount, together with all prior capital contributions to date during such year, does not exceed one hundred five ten percent (105110%) of the total Program Costs budgeted year-to-date through the end of the quarter to which such statement relates (except to the extent such excess is approved by the Steering Committee pursuant to Section 5.1.3 hereof). If the aggregate amount stated to be due from ATIII Kallikrein LLC in such quarterly statements for actual Program Costs is less than the amount already contributed by the Parties to the capital of ATIII Kallikrein LLC with respect to budgeted Program Costs for such calendar quarter, such excess shall be credited pro rata against the next successive monthly capital contribution due from Genzyme or GTC Dyax hereunder.

Quarterly Statements; Quarterly Reconciliation. Within twenty thirty (2030) days after the end of each of the first three (3) calendar quarters of each year and within fifty sixty (5060) days after the end of each calendar year, each of GTC Dyax and Genzyme shall provide ATIII Kallikrein LLC with a detailed itemization of its Program Costs actually incurred during the previous quarter. Each of GTC Dyax and Genzyme shall provide the other Party with estimates of such costs upon the reasonable request of the other Party prior to the dates such statements are due. Within thirty (30) days following receipt of the quarterly statement of actual Program Costs provided by each of GTC Dyax and Genzyme, GTC Dyax, on behalf of the Dyax Companies, and Genzyme shall each make an additional capital contribution to ATIII Kallikrein LLC in the amount of any actual Program Costs shown thereon and not yet paid for which such Party has assumed funding responsibility pursuant to Section 4.1 4.2 above but only to the extent that such amount, together with all prior capital contributions to date during such year, does not exceed one hundred five percent (105%) ************* of the total Program Costs budgeted year-to-date through the end of the quarter to which such statement relates (except to the extent such excess is approved by the Steering Committee pursuant to Section 5.1.3 hereof). If the aggregate amount stated to be due from ATIII Kallikrein LLC in such quarterly statements for actual Program Costs is less than the amount already contributed by the Parties to the capital of ATIII Kallikrein LLC with respect to budgeted Program Costs for such calendar quarter, such excess shall be credited pro rata against the next successive monthly capital contribution due from Genzyme or GTC Dyax hereunder.