Common use of Research Budgets Clause in Contracts

Research Budgets. With respect to any Joint Research Costs or Research Costs that are reimbursed as LGC Costs or Cue Costs in accordance with Section 7.3, the actual Research Costs for any activity performed in any Calendar Year in accordance with a Research Plan shall not exceed [***] of the budgeted amount for such activity in a Calendar Year as set forth in the applicable Research Budget for such Plan. If a Party’s expenses exceed [***] of the budgeted amount of Joint Research Costs for such activity, such Party shall be responsible for completing the activities set forth in the applicable Research Plan at its own expense.