Payment Method; Late Payments. All amounts due KOSAN hereunder shall be paid in U.S. dollars by wire transfer in immediately available funds to a bank account designated by KOSAN. Any payments or portions thereof due hereunder which are not paid on the date such payments are due under this AGREEMENT shall bear interest at a rate equal to the lesser of [**], or the maximum rate permitted by law, calculated on the number of days such payment is delinquent, compounded monthly. This Section 7.7 shall in no way limit any other remedies available to KOSAN.
Appears in 5 contracts
Samples: Research and License Agreement (Kosan Biosciences Inc), Research and License Agreement (Kosan Biosciences Inc), Research and License Agreement (Kosan Biosciences Inc)
