as follows. 5.1.1 Notwithstanding anything to the contrary in this Agreement, PPG shall submit invoices to UDC for: (a) Costs associated with PPG's development, as requested by UDC, of processes to produce OLED materials for the supply of Developmental Chemicals under the Development & License Agreement and/or Products under this Agreement ("Process Development Charge") as specified in Schedule 5.1.1 attached hereto and incorporated by reference herein. Charges for such costs shall be reported to UDC monthly and invoiced quarterly, within 15 days of the close of the calendar quarter; (b) The portion, if any, of PPG's 2005 cumulative out-of-pocket environment, health and safety costs required for the production and shipment of OLED materials, including without limitation out-of-pocket costs for product environmental, health and safety testing and TSCA registration and registration for importation into foreign countries, that exceeds $20,000. PPG shall notify UDC in advance of the expected costs of undertaking these activities. Invoices for such costs shall be submitted to UDC within 15 days following the close of each calendar month beginning with the calendar month in which such cumulative costs first exceed $20,000 and; (c) All analytical costs not otherwise invoiced under Article 3A.3.2(b) of the Development & License Agreement (excluding Development Team charges) and not otherwise included in amounts invoiced under the Development & License Agreement or this Agreement for the supply of either Development Chemicals or Products, at charges customarily billed to PPG's Optical Products business unit. Invoices for such costs shall be submitted to UDC within 15 days following the close of each calendar month. (d) PPG shall use reasonable efforts to minimize the costs and charges described in Articles 5.1.1 (a) (c) above without reducing the quality of services and materials provided to UDC. In addition, PPG shall provide UDC with such reports and other supporting documentation as UDC may reasonably request in connection with monitoring such costs and charges and PPG's efforts to reduce the same.
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Sources: Supply Agreement (Universal Display Corp \Pa\), Supply Agreement (Universal Display Corp \Pa\)
as follows. 5.1.1 Notwithstanding anything to the contrary in this Agreement, PPG shall submit invoices to UDC for:
(a) Costs associated with PPG's development, as requested by UDC, of processes to produce OLED materials for the supply of Developmental Chemicals under the Development & License Agreement and/or Products under this Agreement ("Process Development Charge") as specified in Schedule 5.1.1 attached hereto and incorporated by reference herein. Charges for such costs shall be reported to UDC monthly and invoiced quarterly, within 15 [The confidential material contained herein has been omitted and has been separately filed with the Commission.] days of the close of the calendar quarter;
(b) The portion, if any, of PPG's 2005 cumulative out-of-pocket environment, health and safety costs required for the production and shipment of OLED materials, including without limitation out-of-pocket costs for product environmental, health and safety testing and TSCA registration and registration for importation into foreign countries, that exceeds $20,000[The confidential material contained herein has been omitted and has been separately filed with the Commission.]. PPG shall notify UDC in advance of the expected costs of undertaking these activities. Invoices for such costs shall be submitted to UDC within 15 [The confidential material contained herein has been omitted and has been separately filed with the Commission.] days following the close of each calendar month beginning with the calendar month in which such cumulative costs first exceed $20,000 [The confidential material contained herein has been omitted and has been separately filed with the Commission.] and;
(c) All analytical costs not otherwise invoiced under Article 3A.3.2(b) of the Development & License Agreement (excluding Development Team charges) and not otherwise included in amounts invoiced under the Development & License Agreement or this Agreement for the supply of either Development Chemicals or Products, at charges customarily billed to PPG's Optical Products business unit. Invoices for such costs shall be submitted to UDC within 15 [The confidential material contained herein has been omitted and has been separately filed with the Commission.] days following the close of each calendar month.
(d) PPG shall use reasonable efforts to minimize the costs and charges described in Articles 5.1.1
(a) (c) above without reducing the quality of services and materials provided to UDC. In addition, PPG shall provide UDC with such reports and other supporting documentation as UDC may reasonably request in connection with monitoring such costs and charges and PPG's efforts to reduce the same.
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