Common use of Shared Costs Clause in Contracts

Shared Costs. The parties recognize that there will be shared costs incurred under the Project, which will be borne by the parties in proportion to each party's share of Net Proceeds. Shared costs will include the following: legal fees incurred in engaging a Third Party; all costs associated with the preparation, filing and prosecution of international patent applications, including filing fees, translation costs and legal fees (although MSS will be responsible for its internal staff and overhead costs incurred with respect to any patent applications that it has responsibility for); regulatory costs, if any, including filing fees and legal fees; other costs that may be incurred with respect to the commercialization of Products, whether through MSS or a Third Party, such as patent litigation costs, indemnities and warranties to a Third Party or to end users of Products, and any insurance premiums to insure against potential liability; and any other costs approved by the Steering Committee to be shared costs.