Examples of Project Development Activities in a sentence
PERIMMUNE shall provide to MENTOR from time to time such information as MENTOR may reasonably request for the purpose of demonstrating that there are sufficient funds remaining in the Project Budget and available to PERIMMUNE to complete the Project Development Activities.
No portion of any such funds shall be used (a) for the payment of PERIMMUNE's overhead or general and administrative expenses, except to the extent that such expenses have been properly allocated to the Project Development Activities at the same rate at which such expenses are allocated to all other projects and corporate activities of PERIMMUNE, or (b) for the acquisition of capital equipment or other tangible personal property having a useful life in excess of three (3) years.
MENTOR shall pay the estimated costs of the Project Development Activities for the period beginning on the Effective Date of this Agreement and ending on March 31, 1998 concurrently with its execution of this Agreement.
PERIMMUNE and MENTOR agree that, despite the diligent efforts of PERIMMUNE and MENTOR, there can be no assurance that the objectives of the Project Development Activities or the Project Objective (each as defined herein) will be attained or that the Project Development Activities will result in commercial use of the Product for any one or more Indicated Uses.
Each party shall furnish to the other materials, data, software, specification, formulas or other information as may, in the sole judgment of the Joint Committee, be reasonably necessary for the recipient of such information to perform its Project Development Activities or other duties hereunder.
Promptly upon execution of the Agreement, PERIMMUNE and MENTOR shall form a Joint Research and Development Committee (the "Joint Committee") comprising six (6) members for the purposes of implementing and revising the Project Plan and coordinating the Project Development Activities to be conducted by the Project Teams.
Subject to the obligations of MENTOR set forth in Section 2.5.1, above, PERIMMUNE shall be responsible for and shall pay all costs of the Project Development Activities to the extent such costs exceed $3,000,000, including the costs that would customarily be incurred by a manufacturer in the ordinary course of business for the purpose of submitting an application for pre-marketing approval to the FDA and prosecuting such application to completion and the issuance of the Approval applied for.
Except as expressly provided by Section 2.5.1, above, MENTOR shall not be obligated to pay more than $3,000,000 of the costs of the Project Development Activities, and PERIMMUNE shall pay all costs and expenses in excess of such amount.
PERIMMUNE shall use the funds paid by MENTOR pursuant to Section 2.5.3, above, only for the payment of the costs and expenses of the Project Development Activities.
Thereafter, MENTOR shall pay the estimated costs of the Project Development Activities for the next calendar quarter within ten (10) days after the start of such calendar quarter unless MENTOR is entitled to delay or suspend the next quarterly payment as provided by Section 2.5.6 of this Agreement.