Annual Access Fee. [***] Novartis will make annual payments of USD$5,000,000 each within [***] days of receipt of an Invoice for the same, with the [***] payment to be paid by Novartis to Intellia no later than [***] (provided Novartis has received an Invoice therefor at least [***] days prior to such date) and the subsequent annual payments to be invoiced on the [***]. In no events will payments pursuant to this Section 7.1.2 exceed USD$20,000,000 in the aggregate.
Annual Access Fee. In addition to all other charges set forth in this Agreement, Wastewater Thermal Energy User agrees to pay the County an initial energy transfer fee equal to $0.005 per ton hour of energy (whether used for cooling or heating) transferred (the “Energy Transfer Fee”) from the County’s wastewater to the Project, due on (date). A “Ton-hour” is measured as a function of the number of gallons of water, which pass through the Energy Transfer Station, the temperature difference of the water at the delivery and return point, resulting in the aggregate BTU transfer occurring within the Energy Transfer Station. 1 ton-hour = 12,000 BTU. Annual Increases of the Energy Transfer Fee shall be determined as follows: On each anniversary date of the Commercial Operation Date during the Term, the Energy Transfer Fee shall be adjusted by the same percentage as the increase in CPI for All Urban Consumers (CPI-U) for Seattle-Tacoma-Bellevue such that each year the amount payable is equal to the prior year’s transferred energy multiplied by the prior year’s fee rate escalated by an amount equal to the percentage increase in CPI-U Seattle-Tacoma-Bellevue for each year. The Energy Transfer Fee is due on (date) of each year of this Agreement. For example, if the CPI-U Seattle-Tacoma-Bellevue increases during year one by 3%, then on the anniversary date of the Commercial Operation Date at the end of year two of the Term, the amount payable shall be .005 per ton-hour x 1.03 = 0.0053_x the ton- hours from year two = the total due for year two. If the CPI-U Seattle-Tacoma-Bellevue then increases by 2.5% during year two, then at the end of year three, the amount payable shall be .0053 x 1.025 x the ton-hours from year three.
Annual Access Fee. In addition to all other charges set forth in this Agreement, Wastewater Heat User agrees to pay the County an energy transfer fee equal to $0.05 per ton-hour of energy (whether used for cooling or heating) transferred (the “Energy Transfer Fee”) from the County’s wastewater to the Project. The Energy Transfer Fee shall be determined as follows: On each anniversary date during the Initial Term, an annual Energy Transfer Fee in the amount of $0.05 per ton-hour of energy transferred to or from the County’s wastewater system from all of the Wastewater Heat User’s projects installed at that time; provided that such amount shall be adjusted each year during the term hereof by the same percentage as the increase in CPI for All Urban Consumers (CPI-U) such that each year the amount payable is equal to the prior year’s amount plus an amount equal to the percentage increase in CPI for each year multiplied by the prior year’s fee rate. The Energy Transfer Fee is due on _(date)_ of each year of this Agreement. For example, if the amount (in tons) for year one of the Initial Term is X and the CPI-U increases during year one by 3%, then on the anniversary date of this Agreement for year 2 of the Initial Term, the amount payable shall be .05 per ton x .003 = ____ x the tonnage from year one = the total due for year 2. Accompanying each payment, Wastewater Heat User shall provide the County with detailed summary of costs, revenues, and profits for the prior year.
Annual Access Fee. At the commencement of the CD3 License Term and on each anniversary thereof during the CD3 License Term, Xxxxxxxx will pay to Adimab a non-creditable (except pursuant to the proviso in this sentence), non-refundable technology access fee of [***]; provided, however, that Xxxxxxxx may deduct up to [***] of the fees paid pursuant to this Section 4.1(b) (Annual Access Fee) from fees due to Adimab under Section 4.2(a) (Research Funding) during the twelve (12) months following payment.
Annual Access Fee
