Common use of Development Funding Clause in Contracts

Development Funding. Provided that this Agreement does not terminate on or before January 31, 1994, as provided in Section 4.2, during the twenty- four (24) month period after the Effective Date, NCL shall pay (or at NCL's election, it shall direct NOA to pay) to SGI the development funding agreed upon pursuant to Section 4.2, which shall consist of development fees and prepaid royalties, in the proportions provided in Attachment C. Company shall make the initial payment specified in Attachment C within five (5) days of the Effective Date as the initial nonrefundable installment of such development fees. The balance shall be paid in six (6) equal, non-refundable quarterly installments beginning on February 1, 1994, and every three (3) months thereafter.