Initiation definition
Examples of Initiation in a sentence
The Research Initiation Fee for each Research Program shall be payable no later than thirty (30) days following finalization of the Research Plan for such Research Program.
For clarity, the Research Initiation Fee is nonrefundable, non-creditable, and separate from any Development Costs (including the Pre-Effective Date Development Costs) or Cost Advance paid or owing with respect to a particular Research Program.
For clarity, if at the end of such [***] period (or any extension thereof mutually agreed in writing) (i) the Parties have not agreed on a Research Plan, or (ii) Damora has not paid Paragon the Research Initiation Fee, the applicable Target(s) (or the applicable combination of Targets with respect to Bispecific Antibodies in the case of the Bispecific Research Program) shall cease to be Selected Target(s) and Paragon shall have no obligations with respect thereto.
Damora shall pay to Paragon, on a Research Program-by-Research Program basis, a one-time nonrefundable, non-creditable fee of One Million Two Hundred Fifty Thousand Dollars ($1,250,000) (each such fee, the “Research Initiation Fee”).