Common use of Responsibility for Costs and Expenses Clause in Contracts

Responsibility for Costs and Expenses. All costs and expenses associated with the performance of the Development Programs shall be borne solely by Sankyo. To the extent that responsibilities are allocated to GelTex under a Development Plan, such Development Plan shall contain a budget of the Development Costs expected to be incurred by GelTex in connection with the performance of the responsibilities allocated to it. Sankyo shall not be obligated to reimburse GelTex for any Development Costs incurred by GelTex in the performance of a Development Plan which exceed one hundred fifteen percent (115%) of the total amount budgeted under the Development Plan, unless such excess Development Costs have been approved by the Joint Steering Committee.