Recovery by Commonwealth. (a) If at any time, for any reason, the Commonwealth has paid the Participant more than the Participant is entitled to under clause 3.1 to clause 3.10 inclusive, the Commonwealth may by notice in writing to the Participant require the participant to repay to the Commonwealth the amount of the excess. (b) In addition to the amount of the excess required to be repaid under clause 3.11(a), the Commonwealth may, in its discretion, require the Participant to pay Interest on the amount of the excess. (c) If the Commonwealth gives a notice to the Participant under this clause 3.11, the Participant must repay the amount in full within 30 days of the date of the notice. (d) If the Participant is required to pay an amount to the Commonwealth under this Funding Agreement, the Commonwealth may recover the amount as a debt due and payable to the Commonwealth.
Appears in 2 contracts
Sources: Funding Agreement (Peplin Inc), Funding Agreement (Peplin Inc)
Recovery by Commonwealth. (a) If at any time, for any reason, the Commonwealth has paid the Participant more than the Participant is entitled to under clause clauses 3.1 to clause 3.10 3.9 inclusive, the Commonwealth may by notice in writing to the Participant require the participant Participant to repay to the Commonwealth the amount of the excess.
(b) In addition to the amount of the excess required to be repaid under clause 3.11(a3.10(a), the Commonwealth may, in its discretion, require the Participant to pay Interest on the amount of the excess.
(c) If the Commonwealth gives a notice to the Participant under this clause 3.113.10, the Participant must repay the amount in full within 30 days of the date of the notice.
(d) If the Participant is required to pay an amount to the Commonwealth under this Funding Agreement, the Commonwealth may recover the amount as a debt due and payable to the Commonwealth.
Appears in 1 contract
Sources: Funding Agreement (Pharmaxis Ltd.)