Development Costs Cap definition
Examples of Development Costs Cap in a sentence
MedCo shall be responsible for all Costs with respect to Development activities for the Licensed Product pursuant to the Initial Development Plan that (a) are conducted by Alnylam, (b) are in excess of the then-applicable Development Costs Cap, and (c) are approved by the JSC (the “Extra Early Development Costs”).
The costs incurred by Seller for activities pursuant to this Section 8.5(b) shall constitute Development Costs of Seller subject to the Seller Development Costs Cap.
All Development Costs in excess of the Seller Development Costs Cap will be borne by Buyer.
All Development Costs incurred by Seller and reasonably documented after January 1, 2010 shall count towards the Seller Development Costs Cap.
As partial consideration for the licenses and other rights granted by Alnylam to MedCo under this Agreement, and to fund Alnylam's Development Costs under the Initial Development Plan up to the Development Costs Cap under this Agreement, within five (5) days after the Effective Date, MedCo shall pay Alnylam a non-refundable, non-creditable initial payment of Twenty-Five Million U.S. Dollars ($25,000,000).
As partial consideration for the licenses and other rights granted by Alnylam to MedCo under this Agreement, and to fund Alnylam’s Development Costs under the Initial Development Plan up to the Development Costs Cap under this Agreement, within five (5) days after the Effective Date, MedCo shall pay Alnylam a non-refundable, non-creditable initial payment of Twenty-Five Million U.S. Dollars ($25,000,000).
For the avoidance of doubt and notwithstanding the foregoing reference to Section 5.3(a), such amount shall not be included in or subject to the Development Costs Cap, Annual Cap, Required Studies Cap or any other cap on reimbursement provided for herein.
As partial consideration for the licenses and other rights granted by Alnylam to MedCo under this Agreement, and to fund Alnylam’s Development Costs under the Initial Development Plan up to the Development Costs Cap under this Agreement, within five (5) days after CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT WERE OMITTED AND REPLACED WITH “[***]”.
Once the Development Costs Cap has been reached, all further Development Costs incurred by LimmaTech in performance of its activities under the Development Plan and in accordance with the Development Budget until the End of Phase 2 will be fully refunded by Valneva within [***] of the invoice sent by LimmaTech to Valneva for this purpose.
For example, if one million dollars ($1,000,000) remains in the Development Costs Cap for the Ongoing Clinical Studies at the time Chiesi exercises its step-in rights, Protalix’s responsibility to reimburse [***] of Chiesi’s Development Costs in relation thereto shall be limited to a maximum of [***].