Common use of Funding Commitments Clause in Contracts

Funding Commitments. Genzyme shall spend $500,000 (five hundred thousand dollars) within thirty (30) months after the Effective Date to support clinical development activities for the Test (including, without limitation, reimbursement of Veracyte clinical trial costs, Test Processing Costs for such clinical trials, acquisitions of tissue samples for such clinical trials, and other supplies or support for such clinical trials) needed for entry into Territory B, all as reasonably determined by the Steering Committee. For the avoidance of doubt, Genzyme’s obligation hereunder does not apply to studies conducted that are not for purposes of gaining entry to new markets in Territory B, which are Veracyte’s sole responsibility.