Common use of Development Project Clause in Contracts

Development Project. Ulthera may, at its discretion, provide from time to time a written request to GTS for development activities related to the Field (the “Development Project”). Upon receipt of such a request for a Development Project, GTS shall then submit to Ulthera in a timely manner (i) a specification for each requested Development Project, (ii) an estimate of the budget required for each requested Development Project (the “Development Budget”), wherein said Development Budget is based on commercially reasonable costs and fees, (iii) the anticipated number of months required to complete the development of such Development Project (the “Development Period”), (iv) technical specifications related to the Development Project (the “Specifications”), and (v) a schedule of providing deliverables and associated compensation adjustments for late delivery (collectively, the foregoing submission being [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. the “Proposal”). The Proposal and any related agreements for Development Services shall be negotiated in good faith by the Parties.