Term Sheet Payment Clause Samples

Term Sheet Payment. The Parties hereby acknowledge and agree that Epirus has paid to Bioceros the entire upfront payment of (a) with respect to the Primary Assets, [***] Dollars ($[***]) and (b) with respect to each Secondary Asset, [***] Dollars ($[***]), for a total upfront payment of [***] Dollars ($[***]), pursuant to Section 4.1.1 of the Term Sheet. The fees paid by Epirus to Bioceros pursuant to item (b) of this Section 4.1 with respect to each Secondary Asset shall be fully creditable against the Option Election Fee for such Secondary Asset pursuant to Section 4.3.