Annual Maintenance Fee. Company agrees to pay and shall pay to TSRI a nonrefundable annual maintenance fee in the amount of U.S. *** within thirty (30) days after each anniversary of the Effective Date, beginning with the 2nd anniversary of the Effective Date, during the term of this Agreement. Such payments shall be credited against running royalties, milestone payments and ATI Payments due for that calendar year and not for any preceding or subsequent calendar year, and Company’s royalty or other reports shall reflect such a credit.
Appears in 3 contracts
Samples: License Agreement (Receptos, Inc.), License Agreement (Receptos, Inc.), License Agreement (Receptos, Inc.)
Annual Maintenance Fee. Company Licensee agrees to pay and shall pay to TSRI a nonrefundable annual maintenance fee in the amount of Ten Thousand U.S. Dollars *** within thirty (30) days after each anniversary of the Effective Date, beginning with the 2nd second (2nd) anniversary of the Effective Date, during the term of this Agreement. Such payments shall be credited against running royalties, milestone payments and ATI Sublicense Payments due for that calendar year and not for any preceding or subsequent calendar year, and CompanyLicensee’s royalty or other reports shall reflect such a credit.
Appears in 3 contracts
Samples: License Agreement (Receptos, Inc.), License Agreement (Receptos, Inc.), License Agreement (Receptos, Inc.)
