Development Payment. In consideration for the purchase rights set forth in Article 3 of this Agreement, the royalty rights set forth in Article 4 of this Agreement and the right of participation set forth in Section 6.3 of this Agreement, Customer will make a development payment in accordance with the terms set forth in Exhibit A (the “Development Payment”). The Development Payment shall be used to fund the development of the Products. QPC shall have full control over the engineering and development process. Customer shall have no right to a refund of the Development Payment unless QPC notifies Customer that it is abandoning development of the Products.
Development Payment. Pursuant to Section 2 of the Agreement, Customer hereby agrees to make a Development Payment in the amount of Two Million Dollars ($2,000,000), which payment shall be due as of the Effective Date and payable in the following manner: Effective Date $ 150,000 Ten days following the Effective Date $ 350,000 August 31, 2008 $ 500,000 September 30, 2008 $ 250,000 October 31, 2008 $ 250,000 November 30, 2008 $ 250,000 December 31, 2008 $ 250,000
Development Payment. Licensee’s share of the development costs for the LPER Product is NT$1,500,000 (“Licensee’s Development Cost”). Licensee shall pay Licensor 20% of Licensee’s Development Cost on the date of execution of this Agreement. Licensee shall pay 30% of Licensee’s Development Cost upon the completion of the system test and documentation, as specified in Exhibit A the (“System Test”). Both parties shall make commercially reasonable efforts to cooperate and complete the System Test within thirty (30) days from the Effective Date. Licensee shall pay the remaining 50% upon Licensee’s approval of the LPER Product as provided in Section 3 and as specified on Exhibit A.
Development Payment. Partner will partially fund uniQure’s Development expenses between the Execution Date and the earlier of the Effective Date or the date this Agreement is terminated pursuant to Section 15.5 (Outside Date) by paying uniQure a one-time, aggregate payment in an amount equal [*] (such amount, the “Development Payment”). Partner will pay uniQure the Development Payment no later than [*] after the earlier of the Effective Date or the date this Agreement is terminated pursuant to Section 15.5 (Outside Date). The Development Payment will be irrevocable, non-refundable, and non-creditable against any other payment due to uniQure pursuant to this Agreement (subject only to the terms of Section 15.5 (Outside Date)).
Development Payment. 7.1 In consideration of the obligations of Glycyx contained in this Agreement Menarini shall pay to Glycyx as a contribution to the costs incurred in the research and development of the Product (both before and after the date hereof):-
7.1.1 [*]
7.1.2 [*] [*] CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. [*]
7.1.3 [*]
7.2.1 Glycyx acknowledges receipt prior to the date hereof to the sum of [*] from Menarini as partial reimbursement of the costs of conduct of the Clinical Trials.
7.2.2 In the event that the Clinical Trials are conducted at the cost of Glycyx within the United Kingdom and/or the United States of America Menarini shall pay to Glycyx (within seven days of receipt of a request therefore from Glycyx such request to be made upon agreement of the parties as to the conduct of the Clinical Trials) a [*] CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. further sum of [*] as partial reimbursement of the costs of the conduct of the Clinical Trials.
7.2.3 In the event that the clinical trials are not conducted at the cost Of Glycyx within the United Kingdom and/or the United States of America and at Menarini's option the Clinical Trials will be conducted at the cost of Menarini within the Territory Menarini shall be under no obligation to pay any further sum under clause 7.2.2 above and Glycyx shall repay to Menarini (within seven days of receipt of the request therefore from Menarini such request to be made upon agreement between the parties as to the conduct of the Clinical Trials) the sum previously paid under clause 7.2.1.
Development Payment. Buyer shall invest up to $100,000 USD through the calendar year 2019, to further develop the Software Product and prepare it to be fully marketed to its designated industries and markets. Furthermore, Buyer agrees to provide reasonable capital to develop other software products in the same, similar or different industries, as needed and determined by Buyer and Seller.
Development Payment. Subject to Section 10.4, upon (i) [***] and (ii) [***] ((i) and (ii) collectively, the “Development Milestone”), Buyer shall pay the Company Equityholders an amount equal to [***], which amount shall be composed of (1) [***] in cash and (2) that number of whole shares of Buyer Common Stock determined by dividing $2,500,000 by the Buyer Stock Price (the “Development Payment”).
Development Payment. Subject to the terms and conditions of this Agreement, Den-Mat shall pay a non-refundable development fee of Four Hundred Thousand Dollars ($400,000) (the “Development Payment”) to Remedent. The Development Payment shall be payable to Remedent (a) Fifty Thousand Dollars ($50,000) within seven (7) days after the Effective Date and, (b) Three Hundred Fifty Thousand Dollars ($350,000) within twenty one (21) days after the Effective Date. As additional inducement for Den-Mat’s payment of the Development Payment, Remedent hereby acknowledges that Den-Mat has and shall have no obligation under Section 7.3 of that certain Sub-License Agreement between Den-Mat and Remedent Belgium dated October 21, 2008 for the purchase of the haptic arm products, but such Sub-License Agreement shall remain in full force and effect in all other respects. In the event that Den-Mat fails to purchase the quantities set forth in Section 7.2 of said Sub-License Agreement then Remedent’s sole remedy shall be to convert Den-Mat into a non-exclusive sub-licensee and distributor.
Development Payment. (a) By no later than the first anniversary of the first shipment of concentrate (or any other form of saleable copper, gold or silver product) produced from the Elang Development Payment Area, the Payor shall pay the Elang Development Payment to the Payee.
(b) The Payee and the Payor acknowledge that the Elang Development Payment payable in accordance with this deed is a receivable for the Payee and a payable for the Payor and all payments made and to be made under this deed are payments resulting from the purchase price for the Share Sale and Purchase Agreement.
(c) All payments to be made by the Payor to the Payee pursuant to this clause 3 must be paid by the Payor in Immediately Available Funds to the Payee Bank Account without counterclaim or set off to the account of the Payee.
(d) The Payor must as soon as reasonably practicable (and, in any event, after no later than 20 (twenty) Business Days) notify the Payee upon the occurrence of the first shipment of concentrate (or any other form of saleable copper, gold or silver product) produced from the Elang Development Payment Area and provide written confirmation of the proposed payment date (the “Payment Date”) for the Elang Development Payment, which shall be no later than the date specified in clause 3(a).
(e) If at any point during the Term the Elang Development Payment becomes an impediment to the development of the Elang Development Payment Area as a result of financing constraints or requirements from lenders for such development of the Elang Development Payment Area, the Payee shall promptly meet and negotiate with the Payor in good faith to mitigate such adverse effects.
Development Payment
