Common use of Research Funds Clause in Contracts

Research Funds. Ceres shall provide Research Funds over a three-year period to support the Research Project, in accordance with the Research Budget attached hereto as Exhibit B. The Research Funds paid under this Agreement shall not exceed £ (English pounds) 575,478 in total. Installments of the Research Funds shall be provided on a quarterly basis with the first payment occurring within thirty (30) days from the signature date of this Agreement and thereafter within thirty (30) days from the start of each quarter. The foregoing notwithstanding, the Parties may, from time to time, discuss the scope, direction, and pace of the Research Project, and Ceres may agree to provide greater amounts of funding if University agrees to commit greater resources to the Research Project.