NIH Universal Store Sample Clauses

NIH Universal Store. Pursuant to the specifications attached hereto as Schedule 4.7, the Purchaser will build and install prior to December 31, 2005 (or such later date as agreed to by the Purchaser and the Seller) and the Seller shall purchase for a purchase price of $1,162,500 (the “NIH Purchase Price”) the “NIH Working Store” for the purposes of servicing the small molecule repository for the NIH (the “Repository”). The Seller shall pay to the Purchaser the NIH Purchase Price as follows: (i) $ 375,000 shall be paid following installation of the basic storage chamber associated with the NIH Working Store; (ii) $375,000 shall be paid following installation of the “cherry picking” and “I/O defrost” modules; and (iii) $412,500 shall be paid following acceptance by the Seller of the “NIH Working Store”. The Purchaser's warranty of the Repository and the terms for any future service contract between the Purchaser and the Seller that relates to the “NIH Working Store” will be in substantially the same form as the warranty and those terms included in that certain proposed warranty agreement submitted to NIH (including any implied warranties not expressly disclaimed therein) on or about the time of the purchase order of the “NIH Working Store” by NIH.
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