Prototype Funding Sample Clauses

Prototype Funding. Upon Participant Company signing this Agreement and providing any additional documentation as requested by Verizon or Digital Catapult, each Participant Company will receive an aggregate payment of £40,000 (or the USD equivalent if the Participant Company is a US Company), (“Prototype Funding”) by either Verizon or Digital Catapult for Prototype development of its respective Solution. Company will otherwise be responsible for its own costs and expenses in connection with its Program participation. Funding is subject to the express requirement that Participant Company provide all necessary documentation reasonably requested by Verizon and Digital Catapult to meet applicable federal, state, provincial, local and other tax reporting laws or regulations as applicable. All Prototype Funding will be net of any taxes Verizon and Digital Catapult are required by law to withhold. To the extent permitted by law, all taxes imposed on Prototype Funding is the sole responsibility of each Participant Company.