Second Fee definition

Second Fee is defined in Section 11.13.

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Second Fee has the meaning given to such term in Section 5(a).

Second Fee means, for (a) Stage A2 of Work Plan 1, a fee in the amount of [***], (b) Stage A3 of Work Plan 2, a fee in the amount of [***] and (c) Stage A2 of Work Plan 3, a fee in the amount of [***], in each case, plus Value Added Tax (to the extent applicable), which fee shall be payable by Ophthotech to Midatech in accordance with the terms of this Agreement following initiation of, in the case of each of Work Plans 1 and 3, Stage A2, and, in the case of Work Plan 2, Stage A3.

Examples of Second Fee in a sentence

• ALEXION shall pay OMRF by wire transfer accrued interest on any unpaid portion of the Settlement Fee simultaneous with payment of each portion of the Second Fee and the Third Fee.

• In the event a limited partner contributes Subscription Amounts in different months, the Fee, Second Fee and Third Fee shall be calculated and payable separately based on each such respective Subscription Amount.

• If a Second Fee is payable by the General Partner, it shall be paid within ten (10) business days of the Second Fee Date.

• In this circumstance, however, if the limited partner subsequently liquidates units in the Partnership, the amount of the liquidation proceeds shall be applied pro rata against the Subscription Amounts in question for purposes of determining the Loss Adjustment and whether the Second Fee Condition and the Third Fee Condition have been satisfied for each such subscription.

• The term Second Fee Date means the date which is the two (2) year anniversary of the date upon which the Subscription Amount was effective (as determined by the Limited Partnership Agreement of the Partnership) as a capital contribution to the Partnership.

• By way of example, if a limited partner contributes $10,000 in month one, then contributes an additional $10,000 in month six, and then liquidates $5,000 of units, $2,500 of said liquidation proceeds shall be applied against each of the two $10,000 Subscription Amounts for purposes of determining the Loss Adjustment and whether the Second Fee Condition and the Third Fee Condition have been satisfied for purposes of each such subscription.

• The Council may terminate the Agreement if the Donor fails to pay the Second Fee when requested by the Council.

• A copy of the Second Fee Letter in a form agreed with the Bank duly executed by the Borrower.

• For purposes of determining whether the Second Fee Condition has been satisfied, the limited partner's capital account shall be increased by the amount of any distributions made to the limited partner by the Partnership, and by the amount of any Partnership losses which have been allocated to the limited partner's capital account (the "Loss Adjustment").

• For clarity, the Second Fee for each of Work Plans 1, 2 and 3 shall only become payable upon initiation of the relevant Stage for such Work Plan and is independent of the Second Fees for each of the other Work Plans.