Initial Research and Support Grant Clause Samples
The Initial Research and Support Grant clause establishes the terms under which a party receives funding to conduct preliminary research or provide support services at the outset of a project. Typically, this clause outlines the amount of the grant, the specific activities or milestones it is intended to support, and any reporting or documentation requirements tied to the use of funds. Its core function is to ensure that the recipient has the necessary resources to begin work effectively, while providing the grantor with clear expectations and accountability for how the initial funds are used.
Initial Research and Support Grant. In consideration for services to be provided to the Company during the term of this Agreement, but not including services provided by Fraunhofer prior to the date of this Agreement pursuant to the Fraunhofer USA, Inc. - NuCycle Therapy, Inc. Research Agreement dated March 4, 2002, and subject to the provisions of Section 5.4 of this Agreement, Company shall pay to Fraunhofer an initiation fee of $500,000 ("Initial Research Support Grant") upon the effective date of this Agreement.