Initial License Fee. In partial consideration for the exclusive license granted pursuant to Section 2.1 hereof, Licensee shall pay to Scripps a non-refundable license fee upon execution of this Agreement in the amount of 70,000 shares of Licensee common stock as specified in Exhibit D. The license fee described in this Section is consideration for the grant and continuation of the license hereunder, and Scripps shall have no obligation to return any portion of such license fee, notwithstanding any failure by Licensee to develop any Licensed Product or market any Licensed Product commercially, and notwithstanding the volume of sales of any such Licensed Product.
Initial License Fee. Aegerion shall pay to Bayer seven hundred and fifty thousand U.S. dollars (US$750,000) within thirty (30) days after the Effective Date.
Initial License Fee. In partial consideration of the license and rights granted to it by Bayer under this Agreement and in recognition of the research and development efforts undertaken by Bayer prior to the Effective Date, Licensee shall pay to Bayer, within *** from the Effective Date, an initial license fee of Two Million USD ($2,000,000). This initial license fee will be unconditional and, as such, shall not be subject to any offset, credit, reduction or repayment for any reason whatsoever, whether provided for in this Agreement or not.
Initial License Fee. Dollars and Zero Cents ($ .00) upon the execution of this Agreement.
Initial License Fee. Novartis will pay to Surface within [***] after receipt of an invoice from Surface, which invoice shall be substantially in the form of Exhibit L and issued promptly following the Effective Date, a one-time payment of Seventy Million Dollars ($70,000,000). Such payment will be non-refundable, non-creditable and not subject to set-off.
Initial License Fee. Cephalon shall pay to Angioblast an initial license fee in the amount of Xxx Xxxxxxx Xxxxxx Xxxxxxx Xxxxxx Xxxxxx Dollars (US$130,000,000) as follows:
Initial License Fee. The license fee due under Paragraph 3.1 is [***].
Initial License Fee. An initial license fee, nonrefundable and noncreditable against royalties, of Five Thousand Dollars ($5,000.00) due immediately and payable within ten (10) business days from the Effective Date of this Agreement.
Initial License Fee. Pursuant to Article 3 of the Transition Instructions, the Licensee shall not be required to pay an initial Class License fee.
Initial License Fee. The Licensor agrees that the Licensee's obligation to pay the initial License fee may be deferred until the Licensee has secured the necessary initial operating financing. The failure of the Licensee to secure the necessary initial operating financing within a period of time agreed to by the Licensor and Licensee may result in termination of the Agreement by the Licensor. Upon securing the necessary initial operating financing, the Licensee shall pay the initial License fee to the Licensor under terms and conditions agreed to and satisfactory to the Licensor. If the Licensee fails to make any payment when due, then in addition to any other rights that the Licensor may have under this Agreement or otherwise at law or in equity, the Licensee shall pay interest on the unpaid amount of each payment at the rate of 2% per month (24% per annum) from the due date thereof until payment in full.
