This excerpt taken from the CEPH 10-Q filed Aug 9, 2005.
Option. No later than [**] days after the date [**], the Developing Party shall notify the other Party of such filing and provide the other Party with an estimation of the total [**] (as defined below) incurred in [**]. Upon receipt of such notice, the other Party shall have until the date [**] days after such filing in which to notify the Developing Party in writing that it wishes to have [**] become a [**] under this Agreement, subject to Section 9.11.5 (the [**] Notice). If the other Party provides an [**] Notice to the Developing Party, it shall pay the Developing Party within [**] days of the date of such [**] Notice an amount equal to [**] percent ([**]%) of the [**]. If the other Party does not provide an [**] Notice within [**] days after such [**], then the other Party shall be [**], and the Developing Party shall be free to develop for sale or sell such [**] in the Territory. [**].