Common use of Research Initiation Fee Clause in Contracts

Research Initiation Fee. Damora shall pay to Paragon, on a Research Program-by-Research Program basis, a one-time nonrefundable, non-creditable fee of One Million Two Hundred Fifty Thousand Dollars ($1,250,000) (each such fee, the “Research Initiation Fee”). The Research Initiation Fee for each Research Program shall be payable no later than thirty (30) days following finalization of the Research Plan for such Research Program. For clarity, the Research Initiation Fee is nonrefundable, non-creditable, and separate from any Development Costs (including the Pre-Effective Date Development Costs) or Cost Advance paid or owing with respect to a particular Research Program.