Execution Fee definition
Examples of Execution Fee in a sentence
Condition Precedent for the coming into effect of the Agreement constitutes the satisfactory completion in full and signature by the Client of 3a, 3b and 3c Appendices for natural persons and 2a, 2b, 2c, 2d and 2e and 2f for legal persons as applicable, as well as the Execution Fee Schedule (Appendix 5).
In the event that the Agreement is terminated under the provisions of Section 12 of this Agreement prior to the completion of all of the Milestone Events, any amount remaining of the Contract Execution Fee (that has not been earned by Sonics) shall be promptly refunded by Sonics to TI.
Upon completion of a “Development Milestone Event” by Sonics and acceptance thereof by TI, the corresponding amount of the Contract Execution Fee shall be deemed earned by Sonics and such amount shall become non-refundable.
In the event of termination of this Agreement, the entire unpaid balance of the Execution Fee will be due and payable on or before the effective date of termination.
Within ten (10) days of execution of the Agreement, SRM shall provide to Cordis a License Execution Fee of [*********].