Common use of Late Payments Clause in Contracts

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a rate equal to the U.S. Prime Rate for the date payment was due as reported by the Wall Street Journal.

Appears in 5 contracts

Samples: Development and Commercialization Agreement (Fibrogen Inc), Development and Commercialization Agreement (Fibrogen Inc), Development and Commercialization Agreement (Fibrogen Inc)

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Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***] percent ([***]%), or the U.S. Prime Rate for the date payment was due as reported maximum rate allowable by the Wall Street JournalApplicable Law, whichever is less.

Appears in 5 contracts

Samples: Collaboration Agreement (Voyager Therapeutics, Inc.), Collaboration Agreement (Voyager Therapeutics, Inc.), Collaboration Agreement (Voyager Therapeutics, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a the prime rate equal to the U.S. Prime Rate for the date payment was due as reported by published in the Wall Street JournalJournal for such due date plus […***…] percentage points or the maximum rate allowable by applicable Laws, whichever is less.

Appears in 4 contracts

Samples: Collaboration Agreement (Ambit Biosciences Corp), Collaboration Agreement (Ambit Biosciences Corp), Collaboration Agreement (Ambit Biosciences Corp)

Late Payments. If Except as set forth in Exhibit D, if a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a rate equal to the U.S. Prime Rate for the date payment was due as reported by the Wall Street Journal.

Appears in 3 contracts

Samples: Development and Commercialization Agreement (Fibrogen Inc), Development and Commercialization Agreement (Fibrogen Inc), Fibrogen Inc

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall will thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal of three percent (3%). The payment of such interest will not limit the Party entitled to payment from exercising any other rights it may have as a consequence of the U.S. Prime Rate for the date payment was due as reported by the Wall Street Journallateness of any payment.

Appears in 3 contracts

Samples: Collaboration and License Agreement (Relief Therapeutics Holding SA), Collaboration and License Agreement (Acer Therapeutics Inc.), Exclusive License Agreement (Acer Therapeutics Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefordate, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a the per annum rate equal to of [**] percent ([**]%) over the U.S. Prime Rate for then-current prime rate quoted by Citibank in New York City or the date payment was due as reported maximum rate allowable by the Wall Street Journalapplicable Law, whichever is lower.

Appears in 3 contracts

Samples: License and Collaboration Agreement (Pandion Therapeutics Holdco LLC), License and Collaboration Agreement (Pandion Therapeutics Holdco LLC), License and Collaboration Agreement (Pandion Therapeutics Holdco LLC)

Late Payments. If a Party does not receive payment from the other Party of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such receiving Party from the due date until the date of payment at a rate equal to [*] or the U.S. Prime Rate for the date payment was due as reported by the Wall Street Journal[*].

Appears in 3 contracts

Samples: License and Collaboration Agreement (Cytokinetics Inc), License and Collaboration Agreement (Cytokinetics Inc), License and Collaboration Agreement (Cytokinetics Inc)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of prime plus [***] percentage points or the U.S. Prime Rate for the date payment was due as reported maximum rate allowable by the Wall Street Journalapplicable Law, whichever is less.

Appears in 3 contracts

Samples: License Agreement (Ultragenyx Pharmaceutical Inc.), License Agreement (Ultragenyx Pharmaceutical Inc.), License Agreement (Ultragenyx Pharmaceutical Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of prime plus *** percentage point or the U.S. Prime Rate for the date payment was due as reported maximum rate allowable by the Wall Street Journalapplicable Law, whichever is less.

Appears in 3 contracts

Samples: License and Collaboration Agreement (Five Prime Therapeutics Inc), License and Collaboration Agreement (Five Prime Therapeutics Inc), License and Collaboration Agreement (Five Prime Therapeutics Inc)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefordate, simple interest shall will thereafter accrue on the sum due to such Party from the due date until the date of payment at a the per annum rate equal to of *** percent (***%) over the U.S. Prime Rate for then-current *** quoted by Citibank in New York City, or the date payment was due as reported maximum rate allowable by the Wall Street JournalApplicable Law, whichever is lower.

Appears in 3 contracts

Samples: Collaboration and License Agreement (Pozen Inc /Nc), Collaboration and License Agreement (Pozen Inc /Nc), Collaboration and License Agreement (Pozen Inc /Nc)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to the U.S. Prime Rate for the date payment was due as of prime reported by the in The Wall Street JournalJournal (U.S., Eastern Edition) on the due date of the payment plus two percentage point or the maximum rate allowable by applicable law, whichever is less.

Appears in 2 contracts

Samples: Cd38 Product Collaboration Agreement (I-Mab), Cd38 Product Collaboration Agreement (I-Mab)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***] over the U.S. then-current Prime Rate for the date payment was due as reported by the in The Wall Street JournalJournal or the maximum rate allowable by Applicable Law, whichever is lower.

Appears in 2 contracts

Samples: License Agreement (Molecular Templates, Inc.), License Agreement (Molecular Templates, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefortherefor set forth in this Agreement, simple interest shall thereafter accrue on the sum due to such the Party from the due date until the date of payment at a per-annum rate equal to of one percent (1%) over the U.S. Prime Rate for the date payment was due as then-current prime rate reported by the in The Wall Street JournalJournal or the maximum rate allowable by applicable Laws, whichever is lower.

Appears in 2 contracts

Samples: Confidential Materials Omitted and Filed Separately With the Securities and Exchange Commission (Applied Genetic Technologies Corp), Collaboration and License Agreement (Applied Genetic Technologies Corp)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***] percent [***] over the U.S. Prime Rate for then-current prime rate during the date payment was due as period reported by the in The Wall Street JournalJournal or the maximum rate allowable by Applicable Law, whichever is lower.

Appears in 2 contracts

Samples: Commercial License Agreement (Mersana Therapeutics, Inc.), Commercial License Agreement (Mersana Therapeutics, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall will thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***] above the U.S. Prime Rate for the date payment was due prime rate as reported by the in The Wall Street Journal, Eastern Edition, or the maximum rate allowable by Applicable Law, whichever is less.

Appears in 2 contracts

Samples: Collaboration Agreement (Unum Therapeutics, Inc.), Collaboration Agreement (Unum Therapeutics, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefordate, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a the prime rate equal to published by the U.S. Prime Rate for Federal Reserve plus five percent (5%) per annum or the date payment was due as reported maximum rate allowable by the Wall Street JournalApplicable Law, whichever is less.

Appears in 2 contracts

Samples: Drug License and Development Agreement (Lantern Pharma Inc.), Drug License and Development Agreement (Lantern Pharma Inc.)

Late Payments. If a Party does not receive payment of any undisputed sum due to it on or before the due date thereforset forth under this Agreement, then simple interest shall will thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***] percentage point over the U.S. Prime Rate for the date payment was due as then-current prime rate reported by the in The Wall Street JournalJournal or the maximum rate allowable under Applicable Law, whichever is lower.

Appears in 2 contracts

Samples: Collaborative Research and License Agreement (C4 Therapeutics, Inc.), Collaborative Research and License Agreement (C4 Therapeutics, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall will thereafter accrue on the sum due to such Party from the due date until the date of payment at a an annual rate equal to of the U.S. Prime Rate for the date payment was due lower of (a) [***] (as reported by the in The Wall Street JournalJournal (Eastern U.S. Edition)) or (b) the maximum rate allowed by Applicable Law.

Appears in 2 contracts

Samples: Collaboration and License Agreement (Codiak BioSciences, Inc.), Collaboration and License Agreement (Codiak BioSciences, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***] percent [***] over the U.S. Prime Rate for then-current prime rate during the date payment was due period as reported by the in The Wall Street JournalJournal or the maximum rate allowable by Applicable Law, whichever is lower.

Appears in 2 contracts

Samples: License Agreement (Mersana Therapeutics, Inc.), License Agreement (Mersana Therapeutics, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [*] or the U.S. Prime Rate for the date payment was due as reported maximum rate allowable by the Wall Street JournalApplicable Law, whichever is less.

Appears in 2 contracts

Samples: Collaboration Agreement (Medivation, Inc.), Collaboration Agreement (Medivation, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***], or the U.S. Prime Rate for the date payment was due as reported maximum rate allowable by the Wall Street Journalapplicable Law, whichever is less.

Appears in 2 contracts

Samples: Research Services, License and Collaboration Agreement (Repare Therapeutics Inc.), Research Services, License and Collaboration Agreement (Repare Therapeutics Inc.)

Late Payments. If a Party does not receive payment of any undisputed sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the unpaid and undisputed sum due to such Party from the due date until the date of payment at a per-annum rate equal to the U.S. Prime Rate for the date payment was due of [***] as reported by the in The Wall Street Journal, Internet Edition on the date such amount was first due, or the maximum rate allowable by Applicable Law, whichever is less.

Appears in 1 contract

Samples: Option, License and Collaboration Agreement (Assembly Biosciences, Inc.)

Late Payments. If a Party does not receive payment of any undisputed sum due to it on or before the due date thereforset forth under this Agreement, then simple interest shall will thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***] points over the U.S. Prime Rate for the date payment was due as then-current prime rate reported by the in The Wall Street JournalJournal or the maximum rate allowable under Applicable Law, whichever is lower.

Appears in 1 contract

Samples: Commercialization and License Agreement (Evelo Biosciences, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***] or the U.S. Prime Rate for the date payment was due as reported maximum rate allowable by the Wall Street Journalapplicable Law, whichever is less.

Appears in 1 contract

Samples: Collaboration and License Agreement (Immunome Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to the U.S. Prime Rate for the date payment was due of prime (as reported by the in The Wall Street JournalJournal (U.S., Eastern Edition) plus [†] points or the maximum rate allowable by applicable Law, whichever is less.

Appears in 1 contract

Samples: License and Collaboration Agreement (Xenon Pharmaceuticals Inc.)

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Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefordate, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a the prime rate equal to the U.S. Prime Rate for the date payment was due (as reported by stated in the Wall Street JournalJournal on the date such payment was due) plus four percent (4%) or the maximum rate allowable by applicable law, whichever is less.

Appears in 1 contract

Samples: Collaboration Agreement (Combinatorx, Inc)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a rate equal to [***], calculated on the U.S. Prime Rate for number of days such payments are paid after the date such payments are due. Accrual and payment was due as reported by the Wall Street Journalof interest shall not be deemed to excuse or cure breaches of contract arising from late payment or nonpayment.

Appears in 1 contract

Samples: Research and License Agreement (Ligand Pharmaceuticals Inc)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such the Party from the due date until the date of payment at a the per annum rate equal to the U.S. Prime Rate for lesser of (i) the rate announced by Bank of America (or its successor) as its prime rate in effect on the date that such payment was would have been first due as reported by plus [***] or (ii) the Wall Street Journalmaximum rate permissible under Applicable Law.

Appears in 1 contract

Samples: Commercialization Agreement (Biogen Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such the Party from the due date until the date of payment at a per-annum rate equal to of two percent (2%) over the U.S. Prime Rate for the date payment was due as then-current prime rate reported by the in The Wall Street JournalJournal or the maximum rate allowable by applicable laws, whichever is lower.

Appears in 1 contract

Samples: Collaboration and License Agreement (Sangamo Biosciences Inc)

Late Payments. If a Party does not receive payment of any undisputed sum due to it on or before the due date thereforset forth under this Agreement, then simple interest shall will thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of one percentage point over the U.S. Prime Rate for the date payment was due as then-current prime rate reported by the in The Wall Street JournalJournal or the maximum rate allowable under Applicable Law, whichever is lower.

Appears in 1 contract

Samples: License and Collaboration Agreement (Catalyst Biosciences, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to the U.S. Prime Rate for the date payment was due as of prime reported by the in The Wall Street Journal, Western U.S. Edition on the due date of the payment plus [***] per annum, or the maximum rate allowable by Applicable Laws, whichever is less.

Appears in 1 contract

Samples: Trial Agreement (Tracon Pharmaceuticals, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefordate, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a the prime rate equal to plus [***] percent ([***]%) per annum or the U.S. Prime Rate for the date payment was due as reported maximum rate allowable by the Wall Street JournalApplicable Law, whichever is less.

Appears in 1 contract

Samples: United States License and Collaboration Agreement (Transcept Pharmaceuticals Inc)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of [***] over the U.S. Prime Rate for the date payment was due as then-current LIBOR prime rate reported by the in The Wall Street JournalJournal or the maximum rate allowable by Applicable Law, whichever is lower.

Appears in 1 contract

Samples: Development Collaboration and Exclusive License Agreement (Molecular Templates, Inc.)

Late Payments. If a Party does not receive payment of any undisputed sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the unpaid and undisputed sum due to such Party from the due date until the date of payment at a per-annum rate equal to the U.S. Prime Rate for the date payment was due of [***] as reported by the in The Wall Street Journal, Eastern Edition, or the maximum rate allowable by Applicable Law, whichever is less.

Appears in 1 contract

Samples: Option, License and Collaboration Agreement (Arcus Biosciences, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such the Party from the due date until the date of payment at a per-annum rate equal to of two percent over the U.S. Prime Rate for the date payment was due as then-current prime rate reported by the in The Wall Street Journal.Journal or the maximum rate allowable by applicable laws, whichever is lower. *** CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION 11 INTELLECTUAL PROPERTY

Appears in 1 contract

Samples: Collaboration and License Agreement (Sangamo Biosciences Inc)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to the U.S. Prime Rate for the date payment was due as of prime reported by the in The Wall Street Journal, Western U.S. Edition on the due date of the payment plus [***] percent ([***]%) per annum, or the maximum rate allowable by Applicable Laws, whichever is less.

Appears in 1 contract

Samples: Collaborative Development and Commercialization Agreement (Tracon Pharmaceuticals, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of U.S. prime plus [*…***…] percentage points or the U.S. Prime Rate for the date payment was due as reported maximum rate allowable by the Wall Street Journalapplicable Law, whichever is less.

Appears in 1 contract

Samples: Development and Co Commercialization Agreement (Arcturus Therapeutics Ltd.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such Party from the due date until the date of payment at a per-annum rate equal to of prime plus two (2) percentage points or the U.S. Prime Rate for the date payment was due as reported maximum rate allowable by the Wall Street JournalApplicable Laws, whichever is less.

Appears in 1 contract

Samples: Promotion and Collaboration Agreement (Novan, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefordate, simple interest shall will thereafter accrue on the sum due to such Party from the due date until the date of payment at a the per annum rate equal to the U.S. Prime Rate for the date payment was due as reported by the Wall Street Journal[**].

Appears in 1 contract

Samples: Exclusive Research Collaboration, License and Option Agreement (LogicBio Therapeutics, Inc.)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefortherefor set forth in this Agreement, simple interest shall thereafter accrue on the sum due to such the Party from the due date until the date of payment at a per-annum rate equal to of [***] over the U.S. Prime Rate for the date payment was due as then-current prime rate reported by the in The Wall Street JournalJournal or the maximum rate allowable by applicable Laws, whichever is lower.

Appears in 1 contract

Samples: Confidential Materials Omitted and Filed Separately With the Securities and Exchange Commission (Applied Genetic Technologies Corp)

Late Payments. If a Party does not receive payment of any sum due to it on or before the due date therefor, simple interest shall thereafter accrue on the sum due to such the Party from the due date until the date of payment at a per-annum rate equal to of [***] over the U.S. Prime Rate for the date payment was due as then-current prime rate reported by the in The Wall Street JournalJournal or the maximum rate allowable by applicable laws, whichever is lower.

Appears in 1 contract

Samples: Collaboration and License Agreement (Sangamo Biosciences Inc)

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