Research Program definition
Examples of Research Program in a sentence
Each Milestone Payment shall be paid no more than once per Damora Product for a given Research Program, and ▇▇▇▇▇▇’▇ total Milestone Payments hereunder per Damora Product (together with any such Milestone Payments per each such Damora Product achieved and payable pursuant to a subsequently executed License Agreement with respect to such Research Program) shall not exceed Twenty-Two Million Dollars ($22,000,000).
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.
Within ninety (90) days of ▇▇▇▇▇▇’▇ exercise of its Option with respect to a Research Program as set forth in Section 4.3, subject to any extension as mutually agreed by the Parties, the Parties shall use reasonable efforts to finalize and execute a definitive written agreement consistent with the economic and other terms set forth on, as applicable, Exhibit B (with respect to a Bispecific Research Program) or Exhibit C (with respect to a Monospecific Research Program) (each, a “License Agreement”).
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.
Additionally, for the avoidance of doubt, if a Milestone with respect to a Damora Product is achieved and paid by Damora pursuant to this Agreement, then there shall be no Milestone Payment due for the achievement of such Milestone for such Damora Product under a subsequently executed License Agreement for the applicable Research Program, notwithstanding the inclusion of the same Milestone in Exhibit B or Exhibit C (as applicable) hereto or in such License Agreement.