Common use of Tech Transfer Fee Clause in Contracts

Tech Transfer Fee. RTI shall pay Licensor the following payments in consideration of each of the following deliverables covering the transfer of technology and know-how concerning the Licensor’s technology, within [*] following the achievement of each of the following events and delivery of Licensor’s invoice: (i) upon delivery of draft documentation (for technology transfer in accordance with Section 2.2(c)(i)-(v)) for review/comment by RTI, such delivery to occur within [*] after the effective date, RTI will pay Licensor [*]. (ii) upon RTI’s final approval of the documentation relating to Sections 2.2(c)(i)-(v) such documentation to be delivered within [*] after the effective date, RTI shall pay Licensor [*]. (iii) upon completion by Licensor of an on-site presentation and training at the RTI facility [*]. (iv) upon delivery by Licensor to RTI of an annual update of improvements or modifications (if any), including of sourced parts, by December 15 each year (or earlier if available), RTI shall pay Licensor [*] (in those years in which improvements or modifications are made and an update is provided). This payment obligation will commence in 2019.