Common use of Development Completion Payments Clause in Contracts

Development Completion Payments. In the event that Xxxxxxxx fails to terminate this Agreement in accordance with Section 10.4(d) on or before the First Decision Date or Second Decision Date, as applicable, Xxxxxxxx shall pay to Palomar the applicable Development Completion Payment(s) on or before the First Development Completion Payment Date or the Second Development Completion Payment Date, as the case may be: Development Event Development Completion Payment First Development Completion $2,500,000 (“First Development Completion Payment”) Payment Date Second Development Completion $10,000,000 (“Second Development Completion Payment,” and Payment Date together with the First Development Completion Payment, “Development Completion Payments”)

Development Completion Payments. In the event that Xxxxxxxx fails to terminate this Agreement in accordance with Section 10.4(d) on or before the First Decision Date Point or Second Decision DatePoint, as applicable, Xxxxxxxx shall pay to Palomar the applicable Development Completion Payment(s) on or before the First Development Completion Payment Date or the Second Development Completion Payment Date, as the case may be: Development Event Development Completion Payment First Development Completion Payment Date $2,500,000 (“First Development Completion Payment”) Payment Date Second Development Completion Payment Date $10,000,000 (“Second Development Completion Payment,” and Payment Date together with the First Development Completion Payment, “Development Completion Payments”)

Development Completion Payments. In the event that Xxxxxxxx Gxxxxxxx fails to terminate this Agreement in accordance with Section 10.4(d) on or before the First Decision Date or Second Decision Date, as applicable, Xxxxxxxx Gxxxxxxx shall pay to Palomar the applicable Development Completion Payment(s) on or before the First Development Completion Payment Date or the Second Development Completion Payment Date, as the case may be: Development Event Development Completion Payment First Development Completion Payment Date $2,500,000 (“First Development Completion Payment”) Payment Date Second Development Completion Payment Date $10,000,000 (“Second Development Completion Payment,” and Payment Date together with the First Development Completion Payment, “Development Completion Payments”)

Development Completion Payments. In the event that Xxxxxxxx fails to terminate this Agreement in accordance with Section 10.4(d) on or before the First Decision Date or Second Decision Date, as applicable, Xxxxxxxx shall pay to Palomar the applicable Development Completion Payment(s) on or before the First Development Completion Payment Date or the Second Development Completion Payment Date, as the case may be: Development Event Development Completion Payment First Development Completion Payment Date $2,500,000 (“First Development Completion Payment”) Payment Date Second Development Completion Payment Date $10,000,000 (“Second Development Completion Payment,” and Payment Date together with the First Development Completion Payment, “Development Completion Payments”)