Common use of Quarterly Report/Invoice Clause in Contracts

Quarterly Report/Invoice. Within [ * ] following the end of each Calendar Quarter, ICOS and Lilly each shall prepare a report (the "Invoice") detailing the Non-Sales Force Promotion Expenses and Sales Force Promotion Expenses incurred in the prior Calendar Quarter. Within [ * ] following the end of each Calendar Quarter, ICOS and ▇▇▇▇▇ will each forward its Invoice to the Company with a copy to the other party for review and approval by a designated representative of each party. Sufficient detail shall be provided to support the expenses being charged. If an objection by a party with respect to an Invoice is not raised within [ * ] of receipt thereof, such Invoice will be deemed approved (such approval shall not be construed as a waiver of any audit or * Confidential Treatment Requested other rights related thereto). Once approved as described above in this Section 7.3, each invoice will be submitted to the Company for payment in accordance with the terms set forth in Section 7.4, below, of this Agreement. If necessary, adjustments or corrections to an Invoice as agreed to by both ICOS and ▇▇▇▇▇ will be made to the Invoice before it is submitted for payment. Otherwise adjustments will be made in the subsequent Invoice. The Company, or its representatives, shall have the right to audit both ICOS and Lilly records with respect to such reports, in accordance with Section 8.2(D), below, of this Agreement.

Quarterly Report/Invoice. Within [ * ] following the end of each Calendar Quarter, ICOS and Lilly each shall prepare a report (the "Invoice") detailing any Third Party costs incurred, together with the Non-Sales Force Promotion Expenses and Sales Force Promotion Expenses incurred in the prior [ * ] during such Calendar Quarter. Within [ * ] following the end of each Calendar Quarter, ICOS and ▇▇▇▇▇ Lilly each will each forward its Invoice to the Company with a copy to the other party for review and approval by a designated representative of each party. Sufficient detail shall be provided to support the expenses being charged. If an objection by a party with respect to an Invoice is not raised within [ * ] of receipt thereof, such Invoice will be deemed approved (such approval shall not be construed as a waiver of any audit or * Confidential Treatment Requested other rights related thereto). Once approved as described above in this Section 7.34.2, each invoice will be submitted to the Company for payment in accordance with the terms set forth in Section 7.4, below, 4.3 of this Agreement. If necessary, adjustments or corrections to an Invoice invoice as agreed to by both ICOS and ▇▇▇▇▇ Lilly will be made to the Invoice before it is submitted for payment. Otherwise adjustments will be made in the subsequent Invoice. The Company, or its * Confidential Treatment Requested representatives, shall have the right to audit both ICOS and Lilly records with respect to such reports, in accordance with Section 8.2(D), below, 5.2 of this Agreement.