Common use of Research Expenses Clause in Contracts

Research Expenses. COMPANY shall bear the direct costs, indirect costs and resident fee (i.e. acceptance fee of the resident researcher set forth in Article 4.3, if any) respectively specified in (i), (ii) and (iii) of Section 8 of the Research Program (hereinafter referred to as the "Research Expenses"). COMPANY shall pay the Research Expenses in accordance with the applicable invoice issued by TU by the due date of payment prescribed in said invoice. All bank fees required for and taxes to be imposed on the payment of the Research Expenses shall be borne by COMPANY, and these amounts shall not be deducted by COMPANY from the invoiced amount of the Research Expenses. If COMPANY fails to pay the Research Expenses by the due date of payment, COMPANY shall be obligated to pay late charges calculated at the rate of five percent (5%) per annum in accordance with the number of days from the day following the due date for payment to the day on which the payment is actually made. TU shall be responsible for carrying out accounting of the Research Expenses. COMPANY may review accounting records and documents kept by TU with respect to the Research Expenses during the term of this Agreement and for three (3) years following any termination of this Agreement. Upon completion or discontinuation of the Joint Research, all the unused balance of the direct costs, if any, may be refunded to COMPANY by TU, at the request of COMPANY. TU shall not be obligated to refund the indirect costs and resident fee to COMPANY in any case. If a shortage of the Research Expenses is expected as a result of an extension of the research period, the parties hereto shall discuss and determine whether COMPANY should pay the amount covering the shortage to TU.

Research Expenses. COMPANY shall bear the direct costs, indirect costs and resident fee (i.e. acceptance fee of the resident researcher set forth in Article 4.3, if any) respectively specified in (i), (ii) and (iii) of Section 8 of the Research Program (hereinafter referred to as the "Research Expenses"). COMPANY shall pay the Research Expenses in accordance with the applicable invoice issued by TU by the due date of payment prescribed in said invoice. All bank fees required for and taxes to be imposed on the payment of the Research Expenses shall be borne by COMPANY, and these amounts shall not be deducted by COMPANY from the invoiced amount of the Research Expenses. If COMPANY fails to pay the Research Expenses by the due date of payment, COMPANY shall be obligated to pay late charges calculated at the rate of five three percent (53%) per annum in accordance with the number of days from the day following the due date for payment to the day on which the payment is actually made. TU shall be responsible for carrying out accounting of the Research Expenses. COMPANY may review accounting records and documents kept by TU with respect to the Research Expenses during the term of this Agreement and for three (3) years following any termination of this Agreement. Upon completion or discontinuation of the Joint Research, all the unused balance of the direct costs, if any, may be refunded to COMPANY by TU, at the request of COMPANY. TU shall not be obligated to refund the indirect costs and resident fee to COMPANY in any case. If a shortage of the Research Expenses is expected as a result of an extension of the research period, the parties hereto shall discuss and determine whether COMPANY should pay the amount covering the shortage to TU.

Research Expenses. COMPANY shall bear the direct costs, academic contribution fee, indirect costs costs, and resident fee (i.e. acceptance fee of the resident researcher set forth in Article 4.35.4, if any) respectively specified in (i), (ii) (iii), and (iiiiv) of Section 8 of the Research Program (hereinafter referred to as the "Research Expenses"). COMPANY shall pay TU the Research Expenses in accordance with the applicable invoice issued by TU by the due date of payment prescribed in said invoice. All bank fees required for and taxes to be imposed on the payment of the Research Expenses shall be borne by COMPANY, and these amounts shall not be deducted by COMPANY from the invoiced amount of the Research Expenses. If COMPANY fails to pay the Research Expenses by the due date of payment, COMPANY shall be obligated to pay late charges calculated at the rate of five three percent (53%) per annum in accordance with the number of days from the day following the due date for payment to the day on which the payment is actually made. TU shall be responsible for carrying out accounting of the Research Expenses. COMPANY may review accounting records and documents kept by TU with respect to the Research Expenses during the term of this Agreement and for three (3) years following any termination of this AgreementExpenses. Upon completion or discontinuation of the Joint ResearchResearch or shortening of the Contract Period in accordance with Article 3.2 or 3.3, or upon termination of this Agreement by COMPANY due to TU’s act mentioned in Article 25.1 or 25.2, or 28.3, all the mutually confirmed unused balance of the direct costs, if any, may be refunded to COMPANY by TU, at the request of COMPANY. TU shall not be obligated to refund the indirect Research Expenses other than the direct costs and resident fee to COMPANY in any case. If a shortage of the Research Expenses is expected as a result of an extension of the research periodexpected, the parties hereto shall discuss and determine whether COMPANY should pay the amount covering the shortage to TUan increase.

Research Expenses. COMPANY TU and INSTITUTION shall bear the direct costs, indirect costs and resident fee (i.e. acceptance fee of the resident researcher set forth in Article 4.3, if any) respectively specified in (i), (ii) and (iii) of Section 8 of the Research Program (hereinafter collectively referred to as the "Research Expenses"). COMPANY INSTITUTION shall pay the Research Expenses in accordance with the applicable invoice issued by TU by the due date of payment prescribed in said invoice. All bank fees required for and taxes to be imposed on the payment of the Research Expenses shall be borne by COMPANYINSTITUTION, and these amounts shall not be deducted by COMPANY INSTITUTION from the invoiced amount of the Research Expenses. If COMPANY INSTITUTION fails to pay the Research Expenses by the due date of payment, COMPANY INSTITUTION shall be obligated to pay late charges calculated at the rate of five three percent (53%) per annum in accordance with the number of days from the day following the due date for payment to the day on which the payment is actually made. TU shall be responsible for carrying out accounting of the Research Expenses. COMPANY INSTITUTION may review accounting records and documents kept by TU with respect to the Research Expenses during the term of this Agreement and for three (3) years following any termination of this Agreement. Upon completion or discontinuation of the Joint Research, all the unused balance of the direct costs, if any, may be refunded to COMPANY INSTITUTION by TU, at the request of COMPANYINSTITUTION. TU shall not be obligated to refund the indirect costs and resident fee to COMPANY INSTITUTION in any case. If a shortage of the Research Expenses is expected as a result of an extension of the research period, the parties hereto shall discuss and determine whether COMPANY should pay the amount covering the shortage how to TUcover such shortage.