Examples of Cost Overrun in a sentence
From time to time during the Term, either Party may submit to the Europe JSC any proposed update to the Shared Development Budget, including in connection with any update to the Cross-Territory Clinical Development Plan or to address a potential Cost Overrun.
If the Europe JSC (or the Executive Committee if the Europe JSC cannot agree) does not approve an update to the Shared Development Budget to reflect the anticipated Cost Overrun, then [***] and, to the extent [***].
Thereafter, the Europe JSC (or other designated Subcommittee) shall promptly hold an ad-hoc meeting to evaluate whether there are mitigation measures to prevent the Cost Overrun, and if not, the Europe JSC (or other designated Subcommittee) will discuss what steps to take to address such Cost Overrun, including updating the Shared Development Budget or the Cross-Territory Clinical Development Plan, as applicable.