Common use of Initial License Fees Clause in Contracts

Initial License Fees. In addition to any other license fees payable by Toshiba and SanDisk under Section 5.4 of this Agreement, Toshiba and SanDisk each agree to pay Intermolecular [*] US Dollars (US$[*]) for a cumulative total of [*] US Dollars (US$[*]) for the Intermolecular Background IP license rights set forth in Section 4.1.1 as follows: Intermolecular shall invoice each of Toshiba and SanDisk in the amount of [*] US Dollars (US$[*]) on (a) [*] days following the [*], and (b) [*] days following the [*] anniversary of the [*]. Toshiba and SanDisk each will pay Intermolecular based on such invoices, within [*] days from their respective receipt of such invoices.

Initial License Fees. In addition to any other license fees payable by Toshiba and SanDisk under Section 5.4 of this Agreement, Toshiba and SanDisk each agree to pay Intermolecular [*] One Million US Dollars (US$[*]1,000,000.00) for a cumulative total of [*] Two Million US Dollars (US$[*]2,000,000.00) for the Intermolecular Background IP license rights set forth in Section 4.1.1 as follows: Intermolecular shall invoice each of Toshiba and SanDisk in the amount of [*] US Dollars (US$[*]) on (a) [*] days following the [*], and (b) [*] days following the [*] anniversary of the [*]. Toshiba and SanDisk each will pay Intermolecular based on such invoices, within [*] days from their respective receipt of such invoices.