Common use of Overdue Payments Clause in Contracts

Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first day following the Reporting Period to which such payment was incurred and until payment thereof at a per annum rate equal to two percent (2%) above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting Period, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 9 contracts

Samples: Assignment and Assumption Agreement (Alopexx, Inc.), License Agreement (OvaScience, Inc.), License Agreement (ArcherDX, Inc.)

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Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first day following the Reporting Period to which such payment was incurred and until payment thereof at a per annum rate equal to two percent (2%) [***] above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting Period, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 5 contracts

Samples: Exclusive Patent License Agreement (Aridis Pharmaceuticals, Inc.), Patent License Agreement (Seer, Inc.), Patent License Agreement (TScan Therapeutics, Inc.)

Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first day following the Reporting Period to which such payment was incurred and until payment thereof at a per annum rate equal to two [**] percent (2[**]%) above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting Period, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 3 contracts

Samples: Patent License Agreement (Editas Medicine, Inc.), Patent License Agreement (Editas Medicine, Inc.), Patent License Agreement (Editas Medicine, Inc.)

Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first [***] day following the Reporting Period to which such payment was incurred and until payment thereof at a per annum rate equal to two [***]percent (2[***]%) above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last [***] day of each Reporting Period, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 2 contracts

Samples: Patent License Agreement (Candel Therapeutics, Inc.), Exclusive Patent License Agreement (Candel Therapeutics, Inc.)

Overdue Payments. The payments due under this Agreement AGREEMENT shall, if overdue, bear interest beginning on the first day following the Reporting Period REPORTING PERIOD to which such payment was incurred and until payment thereof at a per annum rate equal to two percent (2%) above the prime rate [***] in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting PeriodREPORTING PERIOD, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital HOSPITAL from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 2 contracts

Samples: Exclusive License Agreement (T2 Biosystems, Inc.), Exclusive License Agreement (T2 Biosystems, Inc.)

Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first day following the Reporting Period to which such payment was incurred and until payment thereof at a per annum rate equal to two Two percent (2%) above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting Periodmonthly, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 2 contracts

Samples: License Agreement (Fluoropharma Medical, Inc.), License Agreement (Fluoropharma Medical, Inc.)

Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first day following the Reporting Period to which such payment was incurred and until payment thereof at a per annum rate equal to two percent (2%) [*] above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting Period, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 2 contracts

Samples: Patent License Agreement (Signal Genetics, Inc.), Patent License Agreement (Signal Genetics, Inc.)

Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first day following the Reporting Period to which such payment was incurred and until payment thereof at a per annum rate equal to two percent (2%) [**] above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting Period, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 2 contracts

Samples: Patent License Agreement (Transcode Therapeutics, Inc.), Patent License Agreement (Transcode Therapeutics, Inc.)

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Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first day following the Reporting Period due date to which such payment was incurred and until payment thereof at a per annum rate equal to two percent (2%) [***] above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting Period, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital Juniper from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 1 contract

Samples: Exclusive License Agreement (Dare Bioscience, Inc.)

Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first day following the Reporting Period REPORTING PERIOD to which such payment was incurred and until payment thereof at a per annum rate equal to two percent (2%) [ * ] above the prime rate in effect on the due date as reported by The the Wall Street Journal, such interest rate being compounded on the last day of each Reporting PeriodREPORTING PERIOD, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital GENERAL from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 1 contract

Samples: License Agreement (Reliant Technologies Inc)

Overdue Payments. The payments due under this Agreement shall, if overdue, bear interest beginning on the first day following the Reporting Period to which such payment was incurred and until payment thereof at a per annum rate equal to two [***] percent (2[***]%) above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting Period, not to exceed the maximum permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 1 contract

Samples: Non Exclusive Patent License Agreement (Frequency Therapeutics, Inc.)

Overdue Payments. The payments Any payment due under this Agreement AGREEMENT shall, if overdue, bear interest beginning on the first day following the Reporting Period to which date such payment was incurred due and shall continue until the payment thereof is made. Interest shall be at a per annum rate equal to two percent (2%) [***] above the prime rate in effect on the due date as reported by The Wall Street Journal, such interest rate being compounded on the last day of each Reporting Period, not to exceed the maximum interest rate permitted by law. Any such overdue payments when made shall be accompanied by all interest so accrued. Said interest and the payment and acceptance thereof shall not preclude Hospital HOSPITAL from exercising any other rights it may have as a consequence of the lateness of any payment.

Appears in 1 contract

Samples: License Agreement (Alopexx, Inc.)

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