Common use of Initial Obligations Clause in Contracts

Initial Obligations. (a) On the Acceptance Date with respect to the Initial System, BMS 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 BMS an invoice therefor, in accordance with Section 7.9(a). (b) From time to time after the Acceptance Date with respect to the Initial System, BMS shall deliver to IRORI resins to be loaded into the NanoKans ordered by BMS pursuant to Section 7.1(a) (arty resins delivered by BMS pursuant to this Section 7 collectively, the "BMS Resins"), accompanied by instructions as to how many of such NanoKans should be loaded with such BMS Resins and as to shipping and delivery of such NanoKans. Within 30 *** Portions of this page have been omitted pursuant to a request for Confidential Treatment and filed separately with the Commission