R&D Payments definition
Examples of R&D Payments in a sentence
The Initial R&D Plan has been prepared and the initial R&D Payments have been determined on the assumption that the First Female Product will be a 510(k) Product and not a PMA Product.
Upon the parties entering into a mutually acceptable written agreement adopting the Supplemental R&D Plan and the Supplemental R&D Payments with respect to such Additional Light-Based Hair Management Product, references herein to the “R&D Plan” and “R&D Payments” shall automatically be deemed to include references to the “Supplemental R&D Plan,” and “Supplemental R&D Payments,” respectively.
All R&D Payments shall be non-creditable and non-refundable and there shall be no right of set-off with respect thereto.
In addition to the R&D Payments to be used for the sole purpose of Research and development of products deriving from the Patents, the Company shall compensate the Consultant for the work provided herein through the delivery of a cash payment payable in United States Dollars equal to two percent (2%) of the Company’s net sales proceeds derived from any products stemming from the Research & Patents (the “Development Fees”).
In the event that this Agreement is terminated by ▇▇▇▇▇▇▇▇ pursuant to Section 10.4(a) before the final R&D payment becomes due, ▇▇▇▇▇▇▇▇’▇ shall be obligated to make R&D Payments to Palomar in the amount of four million five hundred thousand dollars ($4,500,000) in the aggregate (against which amount the five hundred thousand dollar ($500,000) payment made by ▇▇▇▇▇▇▇▇ to Palomar pursuant to Section 6.1(a) shall be credited).
The salary for each Project Manager and such other administrative support shall be funded from the Quarterly R&D Payments to the extent set forth in the Development Budget.
Aera will have the right to audit Greensteam’s accounts and records relating to the R&D Payments for any calendar year during which R&D is conducted within a twenty-four (24) month period following the end of the calendar year during which the R&D was provided.
In the event that ▇▇▇▇▇▇▇▇ is obligated to pay Palomar one or more R&D Payments after the termination of this Agreement as provided above, all such R&D Payments shall become due and payable within thirty (30) days of when any such termination becomes effective.
In the event that this Agreement is terminated by ▇▇▇▇▇▇▇▇ pursuant to Section 10.4(b) before the final R&D payment becomes due, ▇▇▇▇▇▇▇▇ shall be obligated to make R&D Payments to Palomar with respect to the two (2) Calendar Quarters after the Calendar Quarter in which ▇▇▇▇▇▇▇▇ provides to Palomar written notice of such termination (against which amounts the five hundred thousand dollar ($500,000) payment made by ▇▇▇▇▇▇▇▇ to Palomar pursuant to Section 6.1(a) shall be credited).
All R&D Payments payable under this Agreement shall be made by bank-wire transfer in immediately available funds to an account designated by Acologix.