Common use of Payment for License Clause in Contracts

Payment for License. (a) As consideration for the Transferred Protiva Rights, and in full satisfaction of the Protiva Purchase Price, the Licensee shall, on the Effective Date, (i) issue to Protiva the Protiva Note (the principal amount of which shall be a one-time, non-refundable, non-creditable amount), (ii) allot and issue to Protiva one Class B Common share without par value in the capital stock of the Licensee as a fully paid and non-assessable share, and (iii) grant to Protiva the rights set out in Section 3.3. (b) As consideration for the Transferred Tekmira Rights, and in full satisfaction of the Tekmira Purchase Price, the Licensee shall, on the Effective Date, allot and issue to Tekmira one Class A Common share without par value in the capital stock of the Licensee as a fully paid and non-assessable share.