Common use of Research Costs Clause in Contracts

Research Costs. SPONSOR will pay to UNIVERSITY the direct and the facilities and administration (“F&A”) costs (collectively “Research Costs”) that UNIVERSITY incurs in performing the Research. Neither UNIVERSITY nor SPONSOR is obligated to expend or pay, respectively, any funds in excess of the Research Costs for the Research. The F&A cost rate will remain in effect during the Term as described in Article 3.1.