Common use of Initial Obligations Clause in Contracts

Initial Obligations. (a) On the Acceptance Date with respect to the Initial System, RPR automatically shall be deemed to have ordered from IRORI an aggregate of *** NanoKans, at a price of *** each, and IRORI shall be entitled to submit to RPR an invoice therefor, in accordance with Section 7.8(a). (b) Between the Acceptance Date with respect to the Initial System and the second Anniversary of such Acceptance Date, RPR shall order from IRORI an aggregate of *** additional NanoKans, at a price of *** each. This is a take-or-pay.