PAYMENT PRIOR TO Sample Clauses

PAYMENT PRIOR TO. COMMERCIALISATION --------------------------------------------- A. In consideration of the development and technical support to the LICENSEE for the PRODUCT in the TERRITORY, and in consideration of the licence granted herein, the LICENSEE agrees to pay ETHICAL * ***** ** ********** ***** ******* *** ****** ******** ** ********, ("LICENSEE payments"), of which ETHICAL has already received from the LICENSEE *** *** ** ********** **** ******* *** ***** ******** ** ********. The remainder will be paid as follows: * redacted pursuant to confidential treatment request a) upon the signing of this AGREEMENT. b) ********** **** ******* * ***** **** ******** ** ******** upon the LICENSEE's completion of a pilot bioavailability study, in no less than 12 (twelve) subjects, demonstrating concentration time profiles for *** ******** of the PRODUCT satisfactory to progress the project onto a development programme proceeding to an *** *********. In the event that scientific results do not indicate that the PRODUCT objectives can be obtained, LICENSEE may nominate an alternative project and apply the payment made under Article V A a) to such other project, less ETHICAL's out-of-pocket expenses for PRODUCT developed for the period starting 1st April 1994 through completion of the pilot biostudies described herein. On LICENSEE making such nomination the parties shall terminate this AGREEMENT effective immediately upon the giving of written notice.