Common use of Research Program Funding Clause in Contracts

Research Program Funding. Fuso shall pay to GenVec funding for the Research Program of seven hundred fifty thousand dollars ($750,000) each year during the Research Program Term. Such amounts shall be paid to GenVec in equal quarterly installments of one hundred eighty-seven thousand five hundred dollars ($187,500), in advance. The initial payment shall be paid within fourteen (14) days from the Effective Date and subsequent payments shall be made on or before the applicable quarterly anniversary of the Effective Date. Such payments shall be made without withholding for taxes or any other charge and, subject to Section 2.6.3, shall be non-refundable.

Research Program Funding. Fuso shall pay to GenVec funding for the Research Program of seven one million five hundred fifty thousand dollars ($750,0001,500,000) each calendar year during the Funded Research Program Term. Such amounts shall be paid to GenVec in equal quarterly installments of one three hundred eighty-seven seventy five thousand five hundred dollars ($187,500375,000), in advance. The initial payment shall be paid within fourteen (14) days from the Effective Date by January 1, 2003, and subsequent payments shall be made on or before the applicable quarterly anniversary first day of the Effective Dateeach succeeding calendar quarter (i.e., April 1, July 1, October 1, January 1). Such payments shall be made without withholding for taxes or any other charge and, subject to Section 2.6.3, shall be non-refundable.

Research Program Funding. Fuso shall pay to GenVec funding for the ------------------------ Research Program of seven hundred fifty thousand dollars ($750,000) each year during the Research Program Term. Such amounts shall be paid to GenVec in equal quarterly installments of one hundred eighty-seven thousand five hundred dollars ($187,500), in advance. The initial payment shall be paid within fourteen (14) days from the Effective Date and subsequent payments shall be made on or before the applicable quarterly anniversary of the Effective Date. Such payments shall be made without withholding for taxes or any other charge and, subject to Section 2.6.3, shall be non-refundable.