Regular Payments. Each Party shall calculate and maintain records ---------------- of Development Expenses incurred by it in accordance with procedures to be agreed upon between the Parties, which shall include an appropriate procedure for netting payments owed to each under this Section 4.08(e). Each Party shall report quarterly to the other Party on its Development Expenses, with such reports to be submitted within thirty (30) days after the end of each calendar quarter. Each Party shall repay to the other Party its share (less any amounts which have been paid in advance pursuant to Section 4.08(d)) within forty-five (45) days of its receipt of each such report.
Appears in 2 contracts
Sources: Collaboration and License Agreement (Cell Therapeutics Inc), Collaboration and License Agreement (Cell Therapeutics Inc)