Research Program Expenditures Clause Samples

Research Program Expenditures. Symyx shall keep complete, true and accurate books of account and records for the purpose of determining Symyx's Research Expenses incurred in connection with the performance of the Research Program. Symyx shall make quarterly written reports to the EC with regard to all Research Expenses expended in a particular quarter, by Active Field, within ninety (90) days after the end of such calendar quarter. Such books and records shall be kept at the principal place of business of Symyx for at least two (2) years following the end of each calendar year. Such records will be open for inspection during such two (2) year period, by an independent auditor of Celanese, for the purpose of verifying the financial reports submitted by Symyx. Such inspections may be made no more than once each calendar year, at reasonable times mutually agreed by Symyx and Celanese. Celanese's auditor will be obliged to execute a reasonable confidentiality agreement prior to commencing any such inspection.

Research Program Expenditures. During the Research Term, ----------------------------- Maxygen shall provide Zeneca with a quarterly accounting report regarding Research Program expenditures by Maxygen in the preceding quarter. Maxygen shall keep records of all expenses incurred in connection with the Research Program, and annually during the Research Program within sixty (60) days following the end of each twelve months from the Effective Date shall provide Zeneca with a report describing the number of FTEs utilized in the Research Program during the preceding twelve months. During the term of the Research Program and for thirty-six (36) months thereafter, Zeneca shall have the right to audit such records no more than once per twelve month period during ordinary business hours, at mutually agreed times, to verify Maxygen's expenditures in connection with the Research Program.

Research Program Expenditures. Array shall keep complete, true and accurate books of account and records of the amounts it expends in connection with the performance of the Research Program.

Research Program Expenditures. During the Research Term, EpiGenix shall provide Microcide with a quarterly report regarding Research Program expenditures by EpiGenix in the preceding quarter. EpiGenix shall keep records of all expenses incurred in connection with the Research Program. During the Research Term and for one year thereafter, Microcide shall have the right to have a Third Party audit such records no more than once per year during ordinary business hours, at mutually agreed times and upon reasonable notice, to verify EpiGenix's expenditures in connection with the Research Program. Such records constitute Confidential Information of EpiGenix and are subject to the provisions of Article 10 herein.

Research Program Expenditures. During the Term of the Research Program, Sequana shall provide Warner with a quarterly report regarding Research Program expenditures by Sequana in the preceding quarter which shall include the names of the individuals constituting the FTE's, and the number of hours each individual spent on the Research Program in the aggregate and by Area of the Field, Sequana shall keep records of all expenses incurred in connection with the Research Program. During the Term of the Research Program and for one year thereafter. Warner shall have the right to audit such records no more than once per year during ordinary business hours, at mutually agreed times, to verify Sequana's expenditures in connection with the Research Program.