Common use of Financial and Staffing Obligations Clause in Contracts

Financial and Staffing Obligations. a. Contributions of Parties to Research Program. Contributions in the form of financial support, equipment, personnel, technology and other necessary components for the conduct of the Research Program shall be made by the parties in accordance with the terms set forth on Exhibit B. All payments due to TSRI by Sponsor shall be payable in U.S. Dollars in quarterly installments in advance, within […***…] of the dates set forth in the following payment schedule: 1st payment: due: [.***.] amount (USD): $[.***.] 2nd payment: due: [.***.] amount (USD): $[.***.] 3rd payment: due: [.***.] amount (USD): $[.***.] 4th payment: due: [.***.] amount (USD): $[.***.] The amounts specified above include all expense, overhead and other related costs due by Sponsor to TSRI in connection with the Research Program, and no other amounts shall be due or payable by Sponsor to TSRI or the Principal Investigator for performance of the Research Program. Each payment must reference the Research Project title, Agreement Number and Principal Investigator for purposes of identification. Payments under this Section 2.4.a shall be sent to: The Scripps Research Institute 00000 Xxxxx Xxxxxx Xxxxx Road, TPC-7 La Jolla, California 92037 Attn: Vice President, Sponsored Programs Fax No.: (000) 000-0000 ***Confidential Treatment Requested With a copy of Sponsor’s notice of payment or other accompanying correspondence to: The Scripps Research Institute 00000 Xxxxx Xxxxxx Xxxxx Road, TPC-9 La Jolla, California 92037 Attn: Director, Technology Development Fax No.: (000) 000-0000 TSRI shall not be obligated to perform any of the research specified herein or to take any other action required under this Agreement if the funding is not provided as set forth in Exhibit B and in accordance with the payment schedule as set forth in this Section 2.4.a. Furthermore, should Sponsor fail to make the first payment to TSRI in accordance with this Section 2.4.a., TSRI shall have the right to immediately terminate this Agreement and this Agreement shall be null and void ab initio.