Development Price. Company shall pay Developer the consideration set forth in Sections 3.1, 3.2 and 3.3 below.
3.1. An initial down payment of NIS 158,000 due on the date hereof; and
3.2. An additional down payment of NIS 119,000 due on May 30, 2018; and
3.3. The consideration set forth in Schedule A in accordance with the timetable specified therein and subject to completion of the milestones linked to each payment (and together with the payment stated in Section 3.1 and 3.2 above which will be deducted from the consideration due under this Section 3.3, the “Purchase Price”), provided however that, in the event that the Company shall not raise US$ 5 million or more in consideration for equity, debt or other securities or tokens generated and/or issued by the Company until June 30, 2018, the total amount of Purchase Price due by the Company shall be caped and shall not exceed the amount of NIS 277,000.
3.4. All payments made in immediately available funds against receipt of an invoice by Company.
3.5. VAT will be added to the payments (if needed).
3.6. For the work done according to this Agreement, Company shall grant Developer on the date hereof an option (the “Option”) to purchase 68,173 Ordinary Shares of the Company (which Options are subject to future dilutions). The Option’s exercise price shall be equal to the nominal value of the shares and the Option’s terms shall be as set forth the warrant form attached hereto as Schedule Al.
3.7. Developer shall not be entitled to receive any other compensation or payment from Company other than as expressly stated in this section 3.
Development Price. (i) The fee for the Preliminary Work to be performed by ISP pursuant to Article 2.A.(i) of this Agreement, shall be [XXXXXXXX], as further described in Exhibit E hereto. This fee shall be invoiced on a monthly basis at the rates set forth in Exhibit E based upon work completed during that month (the “Monthly Development Fee”). The cumulative balance of the monthly Development Fee (the “Fee Balance) shall be payable as provided in Article 5.A(iii) or Article 5.A(iv) hereof.
(ii) In order to secure payment of the Fee Balance and any refund to be paid ISP pursuant to Article 5.A.(vi) hereof, AGIX shall grant ISP a security interest in the Equipment pursuant to the Security Agreement to be entered into on the Effective Date by the parties in the form attached hereto as Exhibit N. ISP shall release the security interest in the Equipment granted to it by AGIX pursuant to the Security Agreement upon purchase of the Equipment by ISP pursuant to Article 5.A.(iii) hereof or payment, in full, of the Fee Balance and any refund to be paid ISP pursuant to Article 5.A.(vi) hereof by AGIX pursuant to Articles 5.A(iv) and 5.A.(vi) hereof.
(iii) Upon completion of the ANDES clinical trial being conducted by AGIX [XXXXXXXX], if the clinical trial has been successful such that AGIX decides to commence the Commercialization Work , then ISP shall purchase all right and title to, and ownership of, the Equipment in accordance with the terms of this Article 5.A. and otherwise in accordance with Exhibit K hereto. AGIX shall provide ISP with written notice of whether or not AGIX intends to continue to develop Product and if AGIX intends to continue development of Product then ISP shall purchase the Equipment within fifteen (15) days after receipt of said notice. The purchase price for the Equipment shall be satisfied by (a) ISP’s release of AGIX’s obligation to pay the Fee Balance; (b) ISP’s continuing obligation to perform any remaining Preliminary Work pursuant to clause (i) of Article 2.A of this Agreement and the Commercialization Work pursuant to clauses (ii) through (v) of Article 2.A of this Agreement; and (c) payment by ISP of the costs incurred by AGIX in storing the Equipment from the Effective Date until the date the Equipment is so purchased.
(iv) If upon completion of the ANDES clinical trial being conducted by AGIX, AGIX determines that it will not continue development of Product then AGIX shall notify ISP in writing and pay the Fee Balance in full within thirty (30) d...
Development Price. The Executor hereby agrees to optimize the existing Application, finalize and modernize it according to the requests of the Customer set out in the Exhibit B “Application Optimization”. The development price for the Application Code shall be two thousand eight hundred twenty U.S. dollars ($2,820.00).
Development Price. An amount equal to the sum of (i) the Hard Costs, (ii) the Soft Costs, (iii) the Interim Term Interest and (iv) such other amounts as may be advanced by Lender pursuant to the terms of this Agreement, but in no event greater than the amount of the “Total Budgeted Investment By Lender” set forth in the Approved Budget, as such Development Price may be modified as expressly set forth in this Agreement.
Development Price. AEG and SmarTire will pay to Supplier the following amounts (collectively, the "Development Price") for all development work performed by Supplier under the Agreement: AEG ** SmarTire ** The Development Price includes all charges for Product to be delivered by Supplier under the provisions of Section 3. Supplier will invoice AEG and SmarTire for milestone payments according to the following schedule: DEVELOPMENT MILESTONES PAYMENT ---------------------- ------- Signing of the Agreement [**] After Tape Out of the Product [**] After completion of DVs that meet the Specification [**] Delivery of PVs that meet Specifications [**]
Development Price. Subject to Sections 13.2, 13.4 and 13.5, as full compensation for the Development Work and all other obligations to be performed by Design/Builder under the Contract Documents, the Alamo RMA shall pay to Design/Builder a lump sum of $328,469,406.00. Such sum, as it may be adjusted from time to time to account for Change Orders, is referred to herein as the “Development Price”.
13.1.1 The Development Price shall be paid in accordance with Section 13.3 and may be changed only by a Change Order issued in accordance with Section 14, or as a result of an Interim Incentive Payment under Section 13.4, an Incentive Payment under Section 13.5 or Liquidated Damages pursuant to Section 18. Design/Builder acknowledges and agrees that, subject only to Design/Builder's rights under Section 14, the Development Price includes (a) all designs, equipment, materials, labor, insurance and bond premiums, home office, jobsite and all other overhead, profit and services related to Design/Builder's performance of its obligations under the Contract Documents, including all Development Work, equipment, materials, labor and services provided by Subcontractors and all intellectual property rights necessary to perform the Development Work; (b) performance of each and every portion of the Development Work;
