Common use of Report of Development Costs, Regulatory Costs and Commercialization Costs Clause in Contracts

Report of Development Costs, Regulatory Costs and Commercialization Costs. Within thirty (30) days following the end of each calendar month beginning with the Effective Date and ending with the month in which the Lightlake Cost Cap has been reached, Lightlake shall prepare and deliver to Adapt a report detailing its Development Costs for the preceding month, and Adapt shall, within fifteen (15) days thereafter, prepare and deliver to Lightlake a report (i) detailing Adapt’s Development Costs, Regulatory Costs and Commercialization Costs incurred during such preceding month, (ii) setting forth a reconciliation of the amounts for which each Party is responsible pursuant to Section 3.8.1, and (iii) indicating the amount in Dollars due to Lightlake or Adapt, as applicable for such calendar month (each, a “Reconciliation Development Payment”). Each Party shall provide such additional detail regarding its reported costs as the other Party shall reasonably request.

Report of Development Costs, Regulatory Costs and Commercialization Costs. Within thirty (30) days following the end of each calendar month beginning with the Effective Date and ending with the month in which the Lightlake Cost Cap has been reached, Lightlake shall prepare and deliver to Adapt a report detailing its Development Costs for the preceding month, and Adapt shall, within fifteen (15) days thereafter, prepare and deliver to Lightlake a report (i) detailing Adapt’s Development Costs, Regulatory Costs and Commercialization Costs incurred during such preceding month, (iimonth,(ii) setting forth a reconciliation of the amounts for which each Party is responsible pursuant to Section 3.8.1, and (iii) indicating the amount in Dollars due to Lightlake or Adapt, as applicable for such calendar month (each, a “Reconciliation Development Payment”). Each Party shall provide such additional detail regarding its reported costs as the other Party shall reasonably request.