Common use of Up-Front Payments Clause in Contracts

Up-Front Payments. In consideration for the license granted in this Agreement, Licensee shall pay to Licensor, the following payments: a. The parties acknowledge that, pursuant to the First License Agreement, Licensee reimbursed Licensor for all past patent related costs incurred by Licensor retroactively to May 31, 2008 and prior to December 22, 2008 pertaining to patent families 1, 2, * Confidential Information, indicated by [***], has been omitted from this filing and filed separately with the Securities and Exchange Commission and 3, and 50% of past patent costs relating to patent family 7 as set out in Exhibit “A” to the Agreement, as invoiced by Licensor to Licensee, which amounts are non-refundable. Licensee shall not be required to reimburse Licensor for any past patent related costs incurred by Licensor prior to December 22, 2008 pertaining to patent family 4 of Exhibit “A”, for which Licensee and Licensor shall bear their own costs, except as provided by Section 4.1(c) below; b. Upon the Effective Date of this Agreement, Licensee shall pay to Licensor the amount of thirty-seven thousand dollars Canadian ($37,000 Cdn), which amount shall be non-refundable; and c. Upon Licensee notifying Licensor, which it must do in writing prior to March 31, 2011, of its intention to retain its license to patent family 4 of Exhibit “A”, Licensee shall pay to the Licensor thirty-one thousand dollars Canadian ($31,000 Cdn), which amount shall be non-refundable.