Common use of One-Time Payments Clause in Contracts

One-Time Payments. In consideration of the exclusive licenses and rights set forth in this Agreement, OMP shall pay LifeCell One Million Dollars ($1,000,000), payable as follows: (a) Four Hundred Thousand Dollars ($400,000) in immediately available funds on the Effective Date. (b) Six Hundred Thousand Dollars ($600,000) in immediately available funds on the later of either (i) June 30, 2000 or (ii) the date ninety (90) days following the Date of Commercialization;