Development Milestone Event Development Milestone Payment. 3. [*] $[*], in the form of cash or in the form of unregistered common stock of Licensee (valued using a 30-day VWAP of Licensee’s common stock traded on Nasdaq beginning on the date the milestone is publicly announced). For the avoidance of doubt, Licensor will have 10 days to elect whether to accept the payment in cash or stock. Notwithstanding the foregoing, if Licensee undergoes a Change in Control, any payment owed pursuant to this Development Milestone Event will be made in cash and not in stock.
Appears in 2 contracts
Samples: Patent License Agreement (Tharimmune, Inc.), Patent License Agreement (Tharimmune, Inc.)
Development Milestone Event Development Milestone Payment. 31. [*] $[*], in the form of cash or in the form of unregistered common stock of Licensee (valued using a 30-day VWAP of Licensee’s common stock traded on Nasdaq beginning on the date the milestone is publicly announced). For the avoidance of doubt, Licensor will have 10 days to elect whether to accept the payment in cash or stock. Notwithstanding the foregoing, if Licensee undergoes a Change in Control, any payment owed pursuant to this Development Milestone Event will be made in cash and not in stock.
Appears in 2 contracts
Samples: Patent License Agreement (Tharimmune, Inc.), Patent License Agreement (Tharimmune, Inc.)
