REIMBURSEMENT OF DEVELOPMENT FUNDS Sample Clauses

REIMBURSEMENT OF DEVELOPMENT FUNDS. Upon Financial Closing, all Development Funds advanced by the Partners, either pursuant to the Partnership Budget or otherwise as approved by the ERC, shall be reimbursable, due and payable to the Partners on a pro rata basis based on the percentages determined by dividing the amount of Development Funds that each Partner has advanced to the Partnership by the aggregate amount of Development Funds advanced by all of the Partners. Such reimbursements shall be paid out of and from the initial drawdown of funds from the Financing; and if sufficient funds are not available out of the initial drawdown of funds from the Financing to reimburse in full all of the Development Funds due and owing to the Partners, the remaining amount of such Development Funds due to be reimbursed to the Partners shall be paid out of and from the first available cash of the Partnership, after any tax distributions under Section 6.3, but before any payments are made under Sections 5.2, 5.3 or 5.4, or any distributions of operating cash flow are made under Sections 6.2 or 6.4. Any Development Funds not previously reimbursed shall be reimbursed upon liquidation of the Partnership.
Sample 1
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REIMBURSEMENT OF DEVELOPMENT FUNDS. Upon Financial Closing, all Development Funds advanced by the Partners, either pursuant to the Partnership Budget or otherwise as approved by the ERC, shall be reimbursable, due and payable to the Partners on a pro rata basis based on the percentages determined by dividing the amount of Development Funds that each Partner has advanced to the Partnership by the aggregate amount of Development Funds advanced by all of the Partners. Such reimbursements shall be paid out of and from the initial drawdown of funds from the Financing; and if sufficient funds are not available out of the initial drawdown of funds from the Financing to reimburse in full all of the Development Funds due and owing to the Partners, the remaining amount of such Development Funds due to be reimbursed to the Partners shall be paid out of the subsequent drawdown of funds from the Financing; and if sufficient funds are not available out of such subsequent drawdowns, then out of and from the first available cash of the Partnership before any distributions are made to the Partners pursuant to Sections 5.2, 5.3 or 6.2. Any Development Funds not previously reimbursed shall be reimbursed upon liquidation of the Partnership.
Sample 1

Related to REIMBURSEMENT OF DEVELOPMENT FUNDS

  • Reimbursement of General Partner (a) Except as provided in this Section 6.5 and elsewhere in this Agreement (including the provisions of Articles 5 and 6 regarding distributions, payments, and allocations to which it may be entitled), the General Partner shall not be compensated for its services as general partner of the Partnership.

  • Development Funding (a) Viewray will pay 3D Line the then U.S. Dollar equivalent of €[***] within three (3) days of the Effective Date for the engineering services required to develop/ deliver the Deliverable described in Section 2.1(a)(i).

  • Initial Development Plan Not later than the Effective Date, Licensee shall have provided Merck with an initial Development plan for the Licensed Product in the Field in the Territory, which shall be incorporated as part of this Agreement as Attachment 3.02(a) (as may be amended in accordance with this Agreement, the “Development Plan”). **CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND WILL BE FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A CONFIDENTIAL TREATMENT REQUEST.

  • Information Systems Acquisition Development and Maintenance a. Client Data – Client Data will only be used by State Street for the purposes specified in this Agreement.

  • Collaboration Management Promptly after the Effective Date, each Party will appoint a person who will oversee day-to-day contact between the Parties for all matters related to the management of the Collaboration Activities in between meetings of the JSC and will have such other responsibilities as the Parties may agree in writing after the Effective Date. One person will be designated by Merck (the “Merck Program Director”) and one person will be designated by Moderna (the “Moderna Program Director,”) together will be the “Program Directors”. Each Party may replace its Program Director at any time by notice in writing to the other Party. Any Program Director may designate a substitute to temporarily perform the functions of that Program Director by written notice to the other Party. The initial Program Directors will be: For Moderna: [***] For Merck: [***]

  • Development Agreement That certain Development Agreement dated of even date herewith by and between the Company and Developer providing for the development of the Project on the Property, a copy of which is attached hereto as Exhibit C and incorporated herein by reference. Development Fee. As described in Section 6.8.

  • Development Activities NovaDel shall not be required to commence any Development Activities until Licensee has paid at least twenty-five percent (25%) of the non-refundable License Fee described in Section 4.4.

  • Development Fees (a) For the development services described in Section 8 above, IMG will pay VERITAS at the "Annual Rate". The initial Annual Rate shall be one hundred eighty thousand dollars ($180,000) per person-year. Commencing January 1, 2002, the Annual Rate shall be adjusted to equal the product of the then current Annual Rate multiplied by a fraction, the numerator of which is the Consumer Price Index published for the December immediately preceding the January 1 in question and the denominator of which is the Consumer Price Index published for the immediately preceding December; provided, however, that any such increase in the Annual Rate shall not be greater than seven percent (7%) of the immediately preceding Annual Rate.

  • Development Responsibilities From and after the Effective Date, BMS shall assume sole responsibility for the Development of Compounds and Products in the Field in the Territory during the Term at its own cost and expense (including responsibility for all funding, resourcing and decision-making, subject to Sections 3.3 and 3.4), except with respect to the performance by Ambrx of the Research Program activities assigned to Ambrx pursuant to the Research Plan and as otherwise may be agreed upon by the Parties in writing. BMS, by itself or through its Affiliates and Sublicensees, shall use Diligent Efforts to Develop a Compound or Product in the Field in accordance with the Development Plan for the purpose of obtaining a Regulatory Approval in each Major Market. For clarity, it is understood and acknowledged that Diligent Efforts in the Development of Compounds and Products may include sequential implementation of Clinical Trials and/or intervals between Clinical Trials for data interpretation and clinical program planning and approval.

  • Joint Development All inventions, know-how, trade secrets, data or information which result from joint development by the Parties hereto shall be jointly owned by the Parties. The Parties hereby agree to cooperate in good faith in the filing of any and all patent applications in all jurisdictions.

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