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. 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 ($70,000,000). Such payment will be non-refundable, non-creditable and not subject to set-off.
Initial License Fee. Dollars and Zero Cents ($ .00) upon the execution of this Agreement.
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. As initial consideration for the grant of rights set forth herein, AVROBIO will (a) pay to BioMarin a non-creditable, non-refundable initial license fee of five hundred thousand Dollars ($500,000), payable within [***] of the Effective Date, and (b) on or before the Preferred Stock Financing Deadline, issue to BioMarin that number of shares of Preferred Stock equal to five hundred thousand Dollars ($500,000) divided by the Preferred Stock Issuance Price, rounded to the nearest whole share, for no additional cash but otherwise on the same terms and conditions at which such shares of Preferred Stock were sold by AVROBIO to the other investor(s) in the Preferred Stock Financing. As a condition to its receipt of any Preferred Stock, BioMarin will enter into AVROBIO’s investor rights agreement, voting agreement, and right of first refusal and co-sale agreement, or other similar agreements, all on the same terms and conditions as the other investor(s) in the Preferred Stock Financing. [***]. Notwithstanding clause (b) above, in the event AVROBIO completes a Change of Control prior to the closing of the Preferred Stock Financing, then AVROBIO will pay to BioMarin a non-creditable, non-refundable payment of [***], in cash, payable within [***] of the date on which such Change of Control becomes effective and will not have the right to issue shares of Preferred Stock to BioMarin as set forth in clause (b) above. Unless a Change of Control has occurred prior to such time. AVROBIO shall notify BioMarin of the completion of the Preferred Stock Financing within [***] after such completion and shall notify BioMarin of any failure to complete the Preferred Stock Financing no later than [***] following the Preferred Stock Financing Deadline. In the event AVROBIO does not complete the Preferred Stock Financing by the Preferred Stock Financing Deadline and has not completed a Change of Control, then AVROBIO shall pay to BioMarin a non-creditable, non-refundable license fee of [***] within [***] of the Preferred Stock Financing Deadline in lieu of the obligation to issue Preferred Stock set forth in clause (b) above. *** Confidential Treatment Requested ***
Initial License Fee. Xanodyne shall pay to XenoPort an initial license fee of Twelve Million Dollars ($12,000,000) in two installments, as follows:
Initial License Fee. Pursuant to Article 3 of the Transition Instructions, the Licensee shall not be required to pay an initial Class License fee.
