Budget Cap definition

Budget Cap shall have the meaning set forth in Section 2.8(a).

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Budget Cap has the meaning given to such term in Section 4.1.3.

Budget Cap means the amount of [***], as may be adjusted from time to time under Section 3.4(e) or otherwise by mutual written agreement of the Parties.

Examples of Budget Cap in a sentence

• For clarification, notwithstanding Section 3.2(f), in the event that the Collaborative Work is conducted in accordance with the GDP and within the Budget Cap, no amendment of the Development Budget shall be required.

• In the event that Development Costs are expected or anticipated to exceed the Budget Cap, the Party conducting the applicable Clinical Trial shall notify the other Party and the JDC shall meet to discuss amending the Development Budget.

• Neither Party shall have the obligation to fund activities under the Joint Exploratory Development Plan once the JEDP Budget Cap has been reached without such Party’s consent; provided that neither Party shall have the right to cease funding any Clinical Study under the Joint Exploratory Development Plan once it has been commenced due to the actual Development Costs of such Clinical Study causing the overall Development Costs of the Joint Exploratory Development Plan to exceed the JEDP Budget Cap.

• For clarity and 264814036 v4 EXECUTION COPY CONFIDENTIAL INFORMATION notwithstanding anything to the contrary herein, Licensor has no obligation to incur FTE Costs or Out-of-Pocket Costs in excess of the Budget Cap unless and until the Parties agree upon revised Research Costs (including a revised number of FTEs over a revised period of time for FTE Costs) with respect to Licensor’s performance of the activities assigned to it under the Research Plan and the Budget Cap is similarly agreed in writing.

• Except as otherwise expressly set forth in this Agreement or in a Research Plan, and subject to ▇▇▇▇▇▇▇’s Annual Budget Cap, during the Initial Research Collaboration Term, Dicerna and ▇▇▇▇▇ shall each respectively bear all expenses it incurs in performance of its own activities under this Agreement and the Research Plan.

• For clarity (and without limiting the foregoing), Novartis shall be permitted to amend the Trial Budget from time to time as necessary to reflect Novartis’ good faith estimate of the Development Costs without the approval of Pharming, the JCT or the Transition Committee, but Pharming’s obligation to reimburse Novartis for Development Costs shall remain subject to the Budget Cap and Section 8.5.

• Upon determination of the Replacement Target, the Parties shall revise the applicable Research Plan accordingly and shall agree in good faith on a revised Budget Cap.

• Pharming shall be obligated to reimburse Novartis for such Development Costs by payment of such amount to Novartis within [***] days after receipt of such report, provided that the aggregate amount of Development Costs to be reimbursed by Pharming under this Agreement shall not exceed the Budget Cap.

• Contractor agrees to coordinate with the County Emergency Manager to prioritize Services in order to accomplish emergency repairs and the most vital of the Services within the Budget Cap.

• Course cost Budget Cap: JPY 3,500,000 The number of participants is expected to be 5-10 (20 at maximum).

More Definitions of Budget Cap

Budget Cap has the meaning set forth in Section 4.4(d).

Budget Cap means the fixed limit of Project Costs available for the design, construction, furnishing, equipping and development of the Facility, as established in the Master Project Budget submitted by Developer and approved by the County.

Budget Cap means an financial amount allotted by the DCC Team Leader for an Increment or a Sprint;

Budget Cap means, for each Member (a) with respect to the Initial Facilities, the amount in U.S. dollars set forth opposite such Member’s name in the Initial Facilities Budget, (b) with respect to the PA Required Expansion Facilities, the amount in U.S. dollars set forth opposite such Member’s name in Attachment D to the Initial Resolution, in each case as such amount may be increased from time to time in accordance with Section 4.2(f).