Initial Research Programs. ARES TRADING shall pay to Intrexon a non- refundable, non-creditable [*****] (“Research Program Payment”) research funding to perform the activities of each of the first two (2) Research Programs under the agreed Research Plans initiated following the Effective Date, in [*****] installments of [*****] over [*****] Calendar Quarters. Within thirty (30) days after the end of each Calendar Quarter and following the receipt of the corresponding proper invoice, ARES TRADING shall pay the invoiced amount. For avoidance of doubt, the funding provided by ARES TRADING for the first two (2) Research Program shall in no event exceed [*****]. Portions herein identified by [*****] have been omitted pursuant to a request for confidential treatment under Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A complete copy of this document has been filed separately with the Securities and Exchange Commission.
Appears in 4 contracts
Samples: License and Collaboration Agreement, License and Collaboration Agreement, License and Collaboration Agreement (Intrexon Corp)
