IND Opt-in Payments Clause Samples

IND Opt-in Payments. Within thirty (30) days of Genentech exercising an IND Opt-in in accordance with Section 4.2, Genentech shall pay to Renovis a one-time, non-refundable opt-in fee (each, an “IND Opt-in Fee”) of either (i) [*] dollars ($[*]) for each Optioned Product that was a Renovis Soluble Receptor Product or (ii) [*] dollars ($[*]) for each Optioned Product that was a Renovis Target Modulator Product. In addition to the IND Opt-in Fee, within thirty (30) days after Renovis submits an invoice with supporting documentation describing in reasonable detail all Renovis Expenses, Genentech shall reimburse Renovis for [*] percent ([*]%) of such Renovis Expenses.