Termination Fee Events. (a) If a DPRX Termination Fee Event occurs, DPRX shall pay to PLx a termination fee of $700,000 (the “DPRX Termination Fee”) by wire transfer in immediately available funds to an account specified by PLx. The DPRX Termination Fee shall be payable at the time specified in Section 7.2(b).
Appears in 2 contracts
Sources: Agreement and Plan of Merger and Reorganization (PLX Pharma Inc.), Merger Agreement (Dipexium Pharmaceuticals, Inc.)