Initial Payment Period Sample Clauses
The Initial Payment Period clause defines the specific timeframe during which the first payment or series of payments under an agreement must be made. Typically, this period begins on the contract's effective date and lasts for a set number of days or until a particular milestone is reached, such as delivery of goods or commencement of services. By clearly establishing when initial payments are due, this clause helps prevent misunderstandings and ensures that both parties are aligned on early financial obligations, thereby reducing the risk of payment disputes at the outset of the contractual relationship.
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Initial Payment Period. Novartis’ obligation to pay Akcea the Novartis Royalty above with respect to a Product will continue on a country-by-country and Product-by-Product basis from the date of First Commercial Sale of such Product until the later of the date of expiration of (i) the [***], (ii) the [***], and (iii) the [***] (such royalty period, the “Initial Payment Period”). * ***Confidential Treatment Requested
Initial Payment Period. For the period from January 1, 2009 to December 31, 2009 (the “Initial Payment Period”), ▇▇▇▇▇▇ shall pay Keyboards and Networks, collectively, an aggregate amount equal to (i) Nine Hundred and Eighty-Six Thousand Dollars ($986,000) less (ii) the amount of any payments that ▇▇▇▇▇▇ makes to Keyboards or Networks prior to the Effective Time under or in connection the 1994 Settlement Agreement with respect to the period of January 1, 2009 to December 31, 2009 (the “Initial Payment”).
Initial Payment Period. Novartis’ obligation to pay Akcea the Novartis Royalty above with respect to a Product will continue on a country-by-country and Product-by-Product basis from the date of First Commercial Sale of such Product until the later of the date of expiration of (i) the last Valid Claim of the Orange Book Patents Covering such Product in the country in which such Product is made, used or sold, (ii) the data exclusivity period conferred by the applicable Regulatory Authority in such country with respect to such Product, and (iii) the tenth anniversary of the First Commercial Sale of such Product in such country (such royalty period, the “Initial Payment Period”). Confidential