Quarterly Reconciliation definition
Examples of Quarterly Reconciliation in a sentence
MSC and MPM, as applicable, may elect to cause all or a portion of the Quarterly Reconciliation Payment to be satisfied by one or more of their subsidiaries, including, in the case of MSC, those subsidiaries listed on Exhibit C and, in the case of MPM, those subsidiaries listed on Exhibit D, which, for the avoidance of doubt, may include settlement in non-U.S. jurisdictions in currency other than U.S. dollars converted at the Exchange Rate for MSC or MPM, as applicable.
In order to receive reimbursement, the employee must provide proof of other coverage and proof of cost to the employee as described in the established guidelines and Quarterly Reconciliation Form.
If the Steering Committee reasonably believes that a Periodic Reconciliation Payment will become owing and payable pursuant to Section 5.06(a), the Steering Committee may direct that an allocable portion of such anticipated Periodic Reconciliation Payment be combined with the amount(s) owing and payable pursuant to each Quarterly Reconciliation Payment, in order to lessen the size of the anticipated Periodic Reconciliation Payment.
Buyer shall have ten (10) business days to review the proposed Quarterly Reconciliation Report for each Quarter and the Weekly Reconciliation Report for the Reporting Period coinciding with the end of such Quarter after its receipt of such reports.
If on the basis of such Quarterly Reconciliation Grantee has been underpaid by the In-Kind Quarterly Payment or the Cash Quarterly Payment made in the relevant calendar quarter, Grantor shall pay to Grantee the difference between (A) the In-Kind Quarterly Payment or the Cash Quarterly Payment, as applicable, and (B) the Royalty payable for such calendar quarter, in cash (and not in kind) concurrently with its delivery to Grantee of such Quarterly Reconciliation.
To the extent that any Quarterly Reconciliation Statement indicates that ARCHEMIX expended FTEs on ARCHEMIX Research Activities and ARCHEMIX Additional Activities in excess of what was authorized by TAKEDA under the Annual Research Plan or otherwise authorized in writing by TAKEDA, TAKEDA shall pay ARCHEMIX for the excess FTEs, not to exceed the [***] of [***] of an FTE [***] by the [***] in any given [***].
Within twenty (20) business days after the end of each Quarter, Supplier shall provide to Buyer a proposed Quarterly Reconciliation Report for the Quarter, together with the Weekly Reconciliation Report for the Reporting Period coinciding with the end of such Quarter.
Buyer and Supplier shall convene an in-person meeting or conference call (each, a "Status Conference") at a mutually convenient time and location to review the Quarterly Reconciliation Report and all of the Weekly Reconciliation Reports for the Quarter then-ended, and discuss the status of manufacturing operations, ongoing or proposed projects and other matters of interest to either party.
To the extent that any Quarterly Reconciliation Statement indicates that ARCHEMIX expended FTEs on ARCHEMIX Research Activities and ARCHEMIX Additional Activities in excess of the number of FTEs required by the Minimum Funding Commitment that were authorized by TAKEDA under the Annual Research Plan or otherwise authorized in writing by TAKEDA, then within [***] days of receipt of such Quarterly Reconciliation Statement, TAKEDA will compensate ARCHEMIX for such additional FTEs at the FTE Rate.
If Buyer is unable to reconcile or disputes any item included in any of the Quarterly Reconciliation Reports or Weekly Reconciliation Reports, or the computation of any amounts due to or from Supplier (regardless of whether any such amounts have been received or paid), it shall notify Supplier within such ten (10) business day period of any such items it is unable to reconcile or which it disputes.