Examples of Funding Term in a sentence
Within [***] of the end of each calendar quarter during the Funding Term, Tempus will provide to GSK a statement (to include the detail specified in Schedule 4, and otherwise in a form to be mutually agreed between the Parties) (a “Quarterly Fee Statement”) setting forth the actual amount of Creditable Fees incurred by GSK for such calendar quarter (the “Actual Quarterly Costs”), to be reviewed and agreed with the Parties’ Finance Representatives within [***] of each calendar quarter.
Within [***] following the Trigger Date (as defined below), and within [***] during the Funding Term, Tempus shall deliver to GSK an invoice for the Quarterly Funding Payment then in effect for such quarter.
If at any time during the Funding Term, Surplus Funding Credits totalling more than [***] remain outstanding and unused for more than [***], GSK’s obligation to make Quarterly Funding Payments shall cease (a “Committed Funding Payment Pause”).