Common use of Upfront Clause in Contracts

Upfront. Within 30 days after the signing of this Agreement, Prosensa shall pay to LUMC the following amounts: a. In partial consideration for the abandonment of the restrictions to the field, an amount of € 488.746,46 (four hundred eighty-eight thousand seven hundred and forty-six euros and forty-six cents) being the total out-of-pocket-expenses incurred by LUMC from September 1, 2003 until the Effective Amendment Date pursuant to Sections 7.4.1 and 7.4.3 of the Original Agreement as demonstrated by LUMC in the form of invoices from its external patent attorney(s); plus b. an amount of € 100,000 (one hundred thousand euro), being the milestone event set forth in Section 6.2(a) of the Original Agreement for the Initial Indication, which milestone event is deemed to be achieved; plus c. An upfront signing fee of € 100,000 (one hundred thousand euro).