Common use of Project Initiation Fee Clause in Contracts

Project Initiation Fee. Athena shall pay CombiChem (a) within ten (10) days following the Effective Date a non-refundable, noncontingent project initiation fee of U.S. $1,333,333 in cash to initiate the Research Program for the Initial Targets (Collaboration Targets *** ) and (b) upon the designation of any Optional Target (Collaboration Targets *** ), a non-refundable project initiation fee of U.S. *** per Optional Target (for a total of *** ), payable upon the later of (i) the date of commencement of a Research Program with respect to such Optional Target, or (ii) *** .

Project Initiation Fee. Athena shall pay CombiChem (a) within ten (10) days following the Effective Date a non-refundable, noncontingent project initiation fee of U.S. $1,333,333 *** in cash to initiate the Research Program for the Initial Targets (Collaboration Targets *** ) and (b) upon the designation of any Optional Target (Collaboration Targets *** ), a non-refundable project initiation fee of U.S. *** per Optional Target (for a total of *** ), payable upon the later of (i) the date of commencement of a Research Program with respect to such Optional Target, or (ii) *** .