Examples of Additional Research Activities in a sentence
Any non-refundable credit in excess of tax liability may be carried forward for up to seven years.• Additional Research Activities Credit is refundable.
For so long any Additional Research Plan is in effect, Company will furnish to Vertex, within [***] after the end of each [***], an update on Company’s progress under the Additional Research Plan with respect to the performance of the Additional Research Activities during the relevant [***], including a summary of any results and data generated by or on behalf of Company or its Affiliates under the Additional Research Plan during the relevant [***] (each, an “Additional Progress Report”).
If the Parties agree on the Additional Research Plan and Additional Research Budget, then Company, directly or through its Affiliates or Subcontractors engaged in accordance with Section 2.1.4, will use Commercially Reasonable Efforts to perform the Additional Research Activities in accordance with the Additional Research Plan, including the timelines set forth therein, and in a professional and timely manner.
Each Party may engage consultants, subcontractors, academic researchers or other vendors (each, a “Subcontractor”) to perform Research Activities allocated to such Party under the Research Plan or Additional Research Activities allocated to such Party under the Additional Research Plan, as applicable; provided that Company will not engage any Subcontractor, other than to the extent set forth in the Research Plan or Additional Research Plan, as applicable, without Vertex’s written consent.
Vertex will reimburse Company in accordance with Section 5.8 for Company’s FTE Costs and Out-of-Pocket Costs incurred in conducting such Additional Research Activities in accordance with the Additional Research Plan and Additional Research Budget.
Each such invoice will be accompanied by reasonable supporting documentation evidencing the expenses incurred for Research Activities or Additional Research Activities, including Manufacturing activities, (such activities to be itemized) during such [***].
Company and its Affiliates will, and will require their respective Subcontractors to, keep accurate and complete records regarding all FTE Costs and Out-of-Pocket Costs incurred in connection with the performance of Research Activities and Additional Research Activities in sufficient detail to confirm the accuracy of any payments required under this Agreement, covering the [***].
The Additional Research Activities Credit requires filing Form 128 or Form 128A with the taxpayer’s return, regardless of taxpayer type.
Company will keep accurate and complete records regarding all (i) FTE Costs and Out-of-Pocket Costs incurred in connection with the performance of Research Activities and Additional Research Activities and (ii) if applicable, Company Activity Expenses incurred for Profit Share Products (including Out-of-Pocket Expenses and FTE Costs), in each case ((i) and (ii)), in sufficient detail to confirm the accuracy of any payments required under this Agreement and covering the [**].
Each such invoice will be accompanied by reasonable supporting documentation evidencing the expenses incurred for Research Activities or Additional Research Activities (such Research Activities or Additional Research Activities to be itemized in accordance with, as applicable, the Research Plan (including the Research Budget) or Additional Research Plan and Additional Research Budget) during such [**].