and the use of the Know-How. Article 2 (Research Title, Etc.) The University and the Collaborator shall conduct the collaborative research set forth in Paragraphs 1 to 3 of the Agreement Particulars (the “Collaborative Research”). Article 3 (Research Period) The research period of the Collaborative Research shall be as set forth in Paragraph 6 of the Agreement Particulars. Article 4 (Researchers) 1. The University and the Collaborator shall each assign the person set forth in Paragraph 4 of the Agreement Particulars as the participants in the Collaborative Research. 2. The University shall accept the Collaborator’s researchers, whom the Collaborator desires to engage in the Collaborative Research in a laboratory of the University as collaborative researchers. 3. The University or the Collaborator may change, add to, or remove the researchers set forth in Article 4.1 with the prior consent of the other party. Article 5 (Allocation and Payment of Research Expenses) 1. The University shall bear the research expenses set forth in Paragraph 7 of the Agreement Particulars, and the Collaborator shall bear the research costs [and research fee] set forth in Paragraph 7 of the Agreement Particulars, respectively. 2. The Collaborator must pay the research expenses [and research fee] set forth in Paragraph 7 of the Agreement Particulars in accordance with the invoice issued by the University by the due date of payment specified in the relevant invoice. 3. If the Collaborator fails to pay the research expenses [and research fee] by the prescribed due date of payment, the Collaborator shall additionally pay delay charges at the rate of five percent (5%) per annum for the outstanding amount on a daily pro-rata basis covering the period from and including the day immediately following the due date for payment up to and including the day of actual payment. Article 6 (Accounting) 1. The accounting procedures for the research expenses set forth in Article 5 shall be conducted by the University. 2. The Collaborator may request the University allows for the inspection of the accounting documents relating to this Agreement. If the Collaborator makes such request for inspection, the University must comply with the same. Provided, however, that if any information of a third party will be disclosed as a result of the inspection or copying of such accounting documents, the
and the use of the Know-How. Article 2 (Research Title, Etc.) The University and the Collaborator shall conduct the collaborative research set forth in Paragraphs 1 to 3 of the Agreement Particulars (the “Collaborative Research”). Article 3 (Research Period) The research period of the Collaborative Research shall be as set forth in Paragraph 6 of the Agreement Particulars. Article 4 (Researchers) 1. The University and the Collaborator shall each assign the person set forth in Paragraph 4 of the Agreement Particulars as the participants in the Collaborative Research. 2. The University shall accept the Collaborator’s researchers, whom the Collaborator desires to engage in the Collaborative Research in a laboratory of the University as collaborative researchers. 3. The University or the Collaborator may change, add to, or remove the researchers set forth in Article 4.1 with the prior consent of the other party. Article 5 (Allocation and Payment of Research Expenses) 1. The University shall bear the research expenses set forth in Paragraph 7 of the Agreement Particulars, and the Collaborator shall bear the research costs [and research fee] set forth in Paragraph 7 of the Agreement Particulars, respectively. 2. The Collaborator must pay the research expenses [and research fee] set forth in Paragraph 7 of the Agreement Particulars in accordance with the invoice issued by the University by the due date of payment specified in the relevant invoice. 3. If the Collaborator fails to pay the research expenses [and research fee] by the prescribed due date of payment, the Collaborator shall additionally pay delay charges at the rate of five percent (5%) per annum for the outstanding amount on a daily pro-rata basis covering the period from and including the day immediately following the due date for payment up to and including the day of actual payment. Article 6 (Accounting) 1. The accounting procedures for the research expenses set forth in Article 5 shall be conducted by the University. 2. The Collaborator may request the University allows for the inspection of the accounting documents relating to this Agreement. If the Collaborator makes such request for inspection, the University must comply with the same. Provided, however, that if any information of a third party will be disclosed as a result of the inspection or copying of such accounting documents, the
1383822_007_1.docx