Common use of Annual Reconciliation Clause in Contracts

Annual Reconciliation. Within forty-five (45) days of the close of each calendar year, Metasyn will provide to MKG a report setting forth Metasyn's actual Research Costs for such year. MKG will, within one hundred and twenty (120) days after the end of each calendar year, provide Metasyn with a written report setting forth the total actual Research Costs of the Parties for such calendar year, and reconciling the amounts of Research Costs paid by each Party during such year (including any advance paid by MKG to Metasyn) with the amounts due from each Party. Together with said report, Metasyn will either make a payment to MKG or issue to MKG an invoice for any balance due.

Annual Reconciliation. Within forty-five (45) days of the close of each calendar year, Metasyn will provide to MKG a report setting forth Metasyn's actual Research Development Costs for such year. MKG will, within one hundred and twenty (120) days after the end of each calendar year, provide Metasyn with a written report setting forth the total actual Research Development Costs of the Parties for such calendar year, and reconciling the amounts of Research Development Costs paid by each Party during such year (including any advance paid by MKG to Metasyn) with the amounts due from each Party. Together with said report, Metasyn MKG will either make a payment to MKG Metasyn or issue to MKG Metasyn an invoice for any balance due. *Confidential information omitted and filed with the Commission.

Annual Reconciliation. Within forty-five (45) days of the close of each calendar year, Metasyn will provide to MKG a report setting forth Metasyn's actual Research Development Costs for such year. MKG will, within one hundred and twenty (120) days after the end of each calendar year, provide Metasyn with a written report setting forth the total actual Research Development Costs of the Parties for such calendar year, and reconciling the amounts of Research Development Costs paid by each Party during such year (including any advance paid by MKG to Metasyn) with the amounts due from each Party. Together with said report, Metasyn MKG will either make a payment to MKG Metasyn or issue to MKG Metasyn an invoice for any balance due.