Common use of Transfer Consideration Clause in Contracts

Transfer Consideration. In consideration for the Transferred Assets and the early termination of the License Agreement, BioMarin shall pay Merck Serono the following non-refundable, non-creditable amounts: (a) on the later of January 4, 2016 or the Business Day immediately following the License Termination Date, €340,000,000 in cash, by wire transfer of immediately available funds to the account listed on Schedule 3.04 or such other account designated by Merck Serono by notice to BioMarin at least three Business Days prior to the License Termination Date, (b) if and when due, any milestone payments in accordance with Section 3.04, and (c) the Inventory Payment in accordance with Section 3.05 (the payments described in clauses (a), (b) and (c) shall be referred to herein collectively as the “Transfer Consideration”).