Common use of Research Funds Clause in Contracts

Research Funds. 4.1.1 The Research Institute shall use the Research Funds solely for the purpose of the Collaborative Research. 4.1.2 The Research Institute shall ensure that the Research Funds under the Agreement are to be used properly, efficiently, effectively, sparingly and in a manner allowable by the Agreement, and shall constantly monitor its use of the Research Funds as its own responsibility. 4.1.3 The Research Institute shall submit to JST without delay an original hard copy of the invoice with the authorized signature for an amount equal to the Research Budget. JST shall pay the invoiced amount by wire transfer to the bank account designated in Appendix 3 within thirty (30) days after its receipt of the invoice. Any loss of value, taxes, commissions, or other expenses incurred in the transfer of the Research Funds or in the conversion of currency shall not be reimbursed by JST to the Research Institute. JST reserves its right to request a refund of the Research Funds in accordance with the terms of this Agreement. 4.1.4 All amounts payable by JST to the Research Institute under this Agreement are inclusive of VAT (or any similar taxes) which the Research Institute may be required to pay at the rate prescribed by applicable laws.

Research Funds. 4.1.1 The Research Institute shall use the Research Funds solely for the purpose of the Collaborative Research. 4.1.2 The Research Institute shall ensure that the Research Funds under the Agreement are to be used properly, efficiently, effectively, sparingly and in a manner allowable by the Agreement, and shall constantly monitor its use of the Research Funds as its own responsibility. 4.1.3 The Research Institute shall submit to JST by e-mail without delay an original hard copy of the invoice with the authorized signature for an amount equal to the Research Budget. JST shall pay the invoiced amount by wire transfer to the bank account designated in Appendix 3 within thirty (30) days after its receipt of the invoice. Any loss of value, taxes, commissions, or other expenses incurred in the transfer of the Research Funds or in the conversion of currency shall not be reimbursed by JST to the Research Institute. JST reserves its right to request a refund of the Research Funds in accordance with the terms of this Agreement. 4.1.4 All amounts payable by JST to the Research Institute under this Agreement are inclusive of VAT (or any similar taxes) which the Research Institute may be required to pay at the rate prescribed by applicable laws.

Research Funds. 4.1.1 The Research Institute shall use the Research Funds solely for the purpose of the Collaborative Research. 4.1.2 The Research Institute shall ensure that the Research Funds under the Agreement are to be used properly, efficiently, effectively, sparingly and in a manner allowable by the Agreement, and shall constantly monitor its use of the Research Funds as its own responsibility. 4.1.3 The Research Institute shall submit to JST by e-mail without delay an original hard copy of the invoice with the authorized signature for an amount equal to the Research Budgetdesignated in Appendix 3. JST shall pay the invoiced amount by wire transfer to the bank account designated in Appendix 3 within thirty (30) days after its receipt of the invoice. Any loss of value, taxes, commissions, or other expenses incurred in the transfer of the Research Funds or in the conversion of currency shall not be reimbursed by JST to the Research Institute. JST reserves its right to request a refund of the Research Funds in accordance with the terms of this Agreement. 4.1.4 All amounts payable by JST to the Research Institute under this Agreement are inclusive of VAT (or any similar taxes) which the Research Institute may be required to pay at the rate prescribed by applicable laws.