Licensing Upfront Payment definition
Licensing Upfront Payment means an initial non-refundable, non-creditable, upfront cash payment related to the development and/or otherwise disposition of the ASP Technology. For the avoidance of doubt, the Upfront Payment shall not be refundable and is in addition to and not a prepayment of any royalties or any other sums payable to the Company. The parties had previously agreed that upfront payments relating to the licensing of Uranium to a third party would be split in a ratio between the parties, 66%:34%, with 66% due to the consultants. This agreement re-defines the ratios more specifically to each individual consultant, depending on time passed, hence on magnitude of investments by ASP Isotopes into development of Uranium project. January 20, 2022 ▇▇. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Building 46, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Road Brummeria, Pretoria, 0184 Dear ▇▇. ▇▇▇▇▇▇▇, This letter agreement (this “Agreement”) sets forth the terms and conditions whereby you agree to provide certain services (as described in Schedule 1) to ASP Isotopes Inc., a Delaware corporation (the “Company”).
Licensing Upfront Payment means an initial non-refundable, non-creditable, upfront cash payment related to the development and/or otherwise disposition of the ASP Technology. For the avoidance of doubt, the Upfront Payment shall not be refundable and is in addition to and not a prepayment of any royalties or any other sums payable to the Company.
Examples of Licensing Upfront Payment in a sentence
The payment schedule below reflects the cash payments that will be made to the Consultant in the event that a Licensing Upfront Payment is paid to the Company (or one of its subsidiaries).