Common use of Shared Development Expenses Clause in Contracts

Shared Development Expenses. In the event that the Parties are obligated to share Development Expenses pursuant to Sections 4.2.2(c), 4.2.3(a), 4.2.3(b) or 4.3.1, each Party incurring Development Expenses shall, within thirty (30) days after the end of each calendar quarter, provide a written report to the Joint Development Team and the other Party detailing the Development Expenses incurred in the preceding quarter. Within fifteen (15) days after the receipt of such report(s), payments shall be made by one Party to the other Party so that the total Development Expenses incurred in such calendar quarter shall be shared in the applicable agreed-upon percentages by the Parties.