Common use of Development Program Funding Clause in Contracts

Development Program Funding. Par shall make the payments for Development Costs in accordance with Section B.10 of Exhibit B. If in any calendar year Advancis anticipates a Development Funding Gap or there is a Development Funding Gap, within its sole discretion, Advancis shall have the right (a) to continue to incur and self-fund the Development Costs for such calendar year and/or (b) to procure third party funding of such shortfall and/or (c) to modify or delay the Development Plan in order to adjust the amount or timing of funds needed thereunder to match the payments being made by Par pursuant to Exhibit B. Provided that Advancis shall [***] to notify Par quarterly of the Development Costs incurred by Advancis in accordance with this Agreement as they are incurred during Term; nothing herein shall restrict Advancis’s right to reasonably delay or withhold its invoicing of Development Costs incurred under this Agreement pursuant to the foregoing items (a), (b) and (c) of this Section 4.4. Any delay in the Development Plan pursuant to this Section 4.4 [***] by Advancis. To the extent that there is a Development Funding Gap, such Development Funding Gap shall be reimbursed to Advancis out of Par’s share of Operating Profits in accordance with Exhibit B.

Development Program Funding. Par shall make the payments for Development Costs in accordance with Section B.10 of Exhibit B. If in any calendar year Advancis anticipates a Development Funding Gap or there is a Development Funding Gap, within its sole discretion, Advancis shall have the right (a) to continue to incur and self-fund the Development Costs for such calendar year and/or (b) to procure third party funding of such shortfall and/or (c) to modify or delay the Development Plan in order to adjust the amount or timing of funds needed thereunder to match the payments being made by Par pursuant to Exhibit B. Provided that Advancis shall [***] to notify Par quarterly of the Development Costs incurred by Advancis in accordance with this Agreement as they are incurred during Term; nothing herein shall restrict Advancis’s 's right to reasonably delay or withhold its invoicing of Development Costs incurred under this Agreement pursuant to the foregoing items (a), (b) and (c) of this Section 4.4. Any delay in the Development Plan pursuant to this Section 4.4 [***] by Advancis. To the extent that there is a Development Funding Gap, such Development Funding Gap shall be reimbursed to Advancis out of Par’s 's share of Operating Profits in accordance with Exhibit B.