MBI MANUFACTURING EXPENSES Sample Clauses

MBI MANUFACTURING EXPENSES. Beginning on the Effective Date and continuing during Phases 1 and 2, Mallinckrodt will reimburse MBI for all fully-allocated manufacturing expenses ("MBI MANUFACTURING EXPENSES"), including but not limited to, overhead, depreciation, direct materials, interest and technology support during the Technology Transfer Period. To qualify for reimbursement, MBI Manufacturing Expenses must be (i) budgeted by MBI and reviewed and approved in advance by the Joint Steering Committee, (ii) determined pursuant to Generally Accepted Accounting Principles ("GAAP"), with the exception that royalties paid and accelerated depreciation taken by MBI that would normally be includable in fully-allocated manufacturing expenses consistent with GAAP will not be reimbursed, (iii) incurred by MBI in manufacturing OPTISON for Mallinckrodt, and (iv) subject to verification and periodic audits by Mallinckrodt similar to the right of audit afforded MBI under SECTION 2.14(c). For purposes of subsection (ii) of this section, the amount of accelerated depreciation excluded from MBI Manufacturing Expenses shall be equal to the difference between (1) the accelerated depreciation actually taken by MBI pursuant to GAAP and (2) the normal depreciation MBI would have taken pursuant to GAAP assuming MBI had not taken accelerated depreciation. In addition to the budget prepared by MBI pursuant to SECTION 2.03(b)(i), MBI shall also prepare a 12 month rolling forecast of MBI Manufacturing Expenses and submit such forecast to Mallinckrodt no later than the due date stated in Mallinckrodt's published forecast schedule.
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Related to MBI MANUFACTURING EXPENSES

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