Research Payments definition
Examples of Research Payments in a sentence
When and if the Parties decide to include such technology and research in the Research Collaboration, they will negotiate in good faith additional technology access fees to reflect ISIS investment in the technology and an appropriate increase in the Research Payments to fund additional research relating thereto.
In such an event, funds designated for creation of such Data will be deducted from the Annual Research Payments and/or Data Generation payments made by Monsanto to Evogene in respect of the applicable Collaboration Year.
At Unity’s election, any Additional Research Payments from previous contract years may be credited against the Five Hundred Thousand U.S. Dollars ($500,000) funding obligation in subsequent years (e.g., in the event that Unity funds $750,000 of Services in contract year 1, Unity would only be obligated to fund $250,000 in Services in contract year 2).
In consideration for the option granted by Broad to Company under this Agreement, Company shall pay to Broad the Research Payments set forth in Schedule 2 (Research Funding Payments) (the “Research Funding”) in the manner set forth in this Section 3 (Payments).
Subject to Section 3.5.3 (Initial Research Payments), Company shall pay the principal and any accrued interest under any Promissory Note in one or more installments (each an “Installment”) over the period beginning on the Issuance Date of such Promissory Note and ending one hundred and fifty (150) days following such Issuance Date (each such end date, the “Maturity Date” for such Promissory Note).
Each Research Payment shall become due and payable under this Agreement, if at all, a maximum of one (1) time, and all Research Payments are nonrefundable and non-creditable.
By way of example under the immediately preceding sentence, if the Average Market Capitalization on the first Trigger Date is $[**], then Company shall pay to Broad aggregate Research Payments equal to $[**].
In addition to any Research Payments payable to Evogene by Monsanto pursuant to Section 6.2 but subject to Section 5.11.1(b), during Collaboration Years 3 and 4, Monsanto shall annually pay Evogene a total of [* * *] Dollars ($[* * *]), quarterly in arrears, for Data Generation.
Subject to Section 3.5.3 (Initial Research Payments), the principal amount under each Promissory Note shall accrue interest from the Issuance Date of such Promissory Note at the rate of four and eight-tenths percent (4.8%).
Evogene acknowledges timely receipt of such Annual Research Payments.