Common use of Technology Transfer Fee Clause in Contracts

Technology Transfer Fee. In the event a Sale/Merger Event occurs prior to October 20, 2006, BioForm shall pay the sum of Two Million U.S. Dollars (US $2,000,000) to Artes (the “Technology Transfer Fee”). The Technology Transfer Fee shall be paid within ten (10) business days following such Sale/Merger Event in immediately available funds via wire transfer to a bank in the United States for the account of Artes as set forth in Exhibit C.