RESEARCH SUPPORT PAYMENTS means payments to COMPANY or AFFILIATE from a CORPORATE PARTNER or SUBLICENSEE that are expressly intended only to fund or pay for equipment, supplies, employees, full time consultants, research, products, services or expenses incurred or to be incurred on behalf of that CORPORATE PARTNER or SUBLICENSEE.
RESEARCH SUPPORT PAYMENTS means payments to COMPANY or an AFFILIATE from a SUBLICENSEE for the purpose of funding the costs of bona fide research and development of LICENSED PRODUCTS and LICENSED PROCESSES by COMPANY under a written research and development plan, and only to the extent COMPANY can reasonably demonstrate that such payments are or were spent on such research and development activities for the LICENSED PRODUCTS and LICENSED PROCESSES covered by the agreement to such SUBLICENSEE, and that are expressly intended only to fund or pay for (i) the purchase or use of equipment, supplies, products or services, or (ii) the use of employees and/or consultants, to achieve a bona fide research and/or development goal for the commercialization of LICENSED PRODUCTS or LICENSED PROCESSES, as indicated in a written agreement between COMPANY and SUBLICENSEE, and shall exclude any funding in excess of COMPANY’S cost of performing such research and development activities.
RESEARCH SUPPORT PAYMENTS means payments to COMPANY or an AFFILIATE from a SUBLICENSEE or corporate partner that are expressly intended only to fund or pay for (i) the purchase or use of equipment, supplies, products or services, or (ii) the use of employees and/or consultants, to achieve a bona fide research or development goal for the commercialization of LICENSED PRODUCTS, IDENTIFIED PRODUCTS, or LICENSED PROCESSES, as indicated by their inclusion as specific line items in a written agreement between COMPANY or AFFILIATE and the SUBLICENSEE or corporate partner.
Examples of RESEARCH SUPPORT PAYMENTS in a sentence
For clarity, SUBLICENSE INCOME specifically excludes: (a) reimbursement of the patent expenses paid by COMPANY to MIT; (b) RESEARCH SUPPORT PAYMENTS; (c) equity investments at fair market value (excluding premiums paid as consideration for the sublicense); and (d) amounts received from a SUBLICENSEE in connection with a bona fide, fully repayable, market rate loan made by SUBLICENSEE to Company (unless such loans are forgiven prior to complete repayment).
More Definitions of RESEARCH SUPPORT PAYMENTS
RESEARCH SUPPORT PAYMENTS mean payments made to LICENSEE by a Sublicensee to fund, at reasonable cost, the expenses of bona fide research and development activities with respect to Licensed Products covered by rights granted in the Sublicense and only to the extent such costs are incurred after the effective date of such Sublicense pursuant to a written research and development plan and budget both as mutually agreed between LICENSEE and such Sublicensee. Additionally, such payments qualify as Research Support Payments only if used for (a) the purchase of equipment and supplies from a third party, (b) fully-loaded personnel costs and (c) do not exceed fair and customary compensation for such activities. For the purpose of clarity, Research Support Payments represent an eligible deduction from Non-Royalty Sublicense Income and do not represent an eligible deduction from Royalty Sublicense Income.
RESEARCH SUPPORT PAYMENTS means payments from a Sublicensee for the purpose of [***].
RESEARCH SUPPORT PAYMENTS means payments to COMPANY from a SUBLICENSEE for the purposes of funding the costs of bona fide research and development activities with respect to LICENSED PRODUCTS and/or LICENSED PROCESSES covered by rights granted in the sublicense agreement to such SUBLICENSEE, and only to the extent that COMPANY can demonstrate that (i) such costs are incurred after the date of such sublicense agreement pursuant to a written research and development plan and budget, both as mutually agreed between COMPANY and such SUBLICENSEE, and (ii) such payments are only used to pay for: (a) the purchase, lease or use of equipment, supplies, raw materials, products or services, or (b) the use of employees and/or consultants, to achieve a bona fide research and/or development goal for the commercialization of such LICENSED PRODUCTS or LICENSED PROCESSES, as indicated by their inclusion as specific line items in the research and development plan.
RESEARCH SUPPORT PAYMENTS means payments to COMPANY or an AFFILIATE or SUBLICENSEE from a CORPORATE PARTNER or SUBLICENSEE for the purposes of funding the costs of bona fide research and development of LICENSED PRODUCTS, LICENSED PROCESSES or DISCOVERED PRODUCTS and that are expressly intended only to fund or pay for: (i) the purchase, lease or use of equipment, supplies, products or services, (ii) the use of employees and/or consultants to achieve a research and/or development goal for LICENSED PRODUCTS, LICENSED PROCESSES or DISCOVERED PRODUCTS, and (iii) reasonable allocable overhead attributable to the expenses described in (i) and (ii) and determined in accordance with United States generally accepted accounting principles, as indicated by their inclusion as specific line items in a written agreement between COMPANY or an AFFILIATE or SUBLICENSEE and the CORPORATE PARTNER or SUBLICENSEE.
RESEARCH SUPPORT PAYMENTS has the meaning set forth in Section 2.5.3.
RESEARCH SUPPORT PAYMENTS means payments to COMPANY or an AFFILIATE from a SUBLICENSEE or corporate partner that are expressly intended only to fund or pay for (i) [***], or (ii) [***], to achieve a bona fide research or development goal for the commercialization of LICENSED PRODUCTS or LICENSED PROCESSES, as indicated by [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. their inclusion as specific line items in a written agreement between COMPANY or AFFILIATE and the SUBLICENSEE or corporate partner.
RESEARCH SUPPORT PAYMENTS means payments to COMPANY or an AFFILIATE from a SUBLICENSEE or corporate partner that are expressly intended only to fund or pay for (i) [***], or (ii) [***], to achieve a bona fide research or development goal for the commercialization of LICENSED PRODUCTS or LICENSED PROCESSES, as indicated by