definiens: shall mean an amount e~ to the lesser of ( i ) Thi~ Million Dollars ( U.S. $ 30,000,000 ) and ( ii ) at any date of determination twenty - five percent ( 25 % ) of the cumulative amount of all Later Stage Development Costs shown un er the most recent and I previous annual Developm.crn Plans and Budgets ; pr ~ ded that Advances with respect to any Collaboration Pruduct shall not excee ~ nty - five percent ( 25 % ) fthe cumulative amount of all Later Stage Development Costs with respect to such Collaboration roouct . In the case of an Advance in Japanese Yen, the calculation of the aggregate Commitment shall be made by converting Japanese Yen so advanced into the equivalent in U.S. dollars using the T.T.M. currency exchange rate ( U.S.$-JP¥ ) quoted by the Bank of Tokyo­Mitsubishi as of the date of Notice of Borrowing ( if such date is not a Business Day, then on the next succeeding Business Day ) . The amount of the Commitment advanced shall not change based upon subsequent changes in the exchange rate