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Common use of Reimbursement of Development Costs Clause in Contracts

Reimbursement of Development Costs. Corium shall use commercially reasonable efforts to control Development Costs and remain within the Development Budget or Amended Development Budget as the case may be. At the end of each month, Corium shall issue an invoice to Xxxx for the Development Costs actually incurred during such month with respect to the Products. Xxxx shall reimburse Corium within [*] of receiving the invoice from Corium, provided that the Development Cost for such month did not exceed the approved Development Budget or Amended Development Budget for that month as the case may be, and subject to the Audit Rights set forth in Section 10.4. Corium shall promptly notify Xxxx when a Target Achievement Date is not likely to be achieved during a quarter, or in the event that the Development Cost for such quarter exceeds or is likely to exceed the approved Development Budget or Amended Development Budget as the case may be. Corium, in the Development Progress Report, shall propose an additional time frame and/or budget required to achieve such Target Achievement Date. Xxxx shall review the reasons for such budget increase or time delay, and if Xxxx does not approve such additional budget, Xxxx shall not be responsible for, in part or in whole, any costs in excess of the Development Budget or Amended Development Budget.

Appears in 4 contracts

Samples: Development, Manufacturing and Commercialization Agreement, Development, Manufacturing and Commercialization Agreement (Corium International, Inc.), Development, Manufacturing and Commercialization Agreement (Corium International, Inc.)

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