Common use of Technology Development Payments Clause in Contracts

Technology Development Payments. In consideration of the technology transfer, engineering, research and development, and training services provided by Licensor hereunder pursuant to Article 5, all of which will be performed within the United States, Licensees will pay to Licensor the aggregate amount of [***] Dollars ($[***]) (Technology Development Payments) in the following installments and upon the initial occurrence of each of the following events: (a) [***] Dollars ($[***]) payable upon the Effective Date; (b) [***] Dollars ($[***]) payable upon receipt by the Licensees of the ▇▇▇▇▇▇▇▇ Engineering Documents; and (c) [***] Dollars ($[***]) payable upon the earlier of (i) completion of the Technical Meeting or (ii) 45 days after the Effective Date.