License Initiation Fee. In partial consideration of the License, Company will pay to Penn within thirty (30) days of the Effective Date a non-refundable, non-creditable license initiation fee of $75,000, provided that twenty-five percent (25%) of all cash payments made by Company to DSS Partners as such payment will be creditable against such $75,000, except that in no event will the payment due to Penn under this Section 3.1 be less than $56,250.
Appears in 6 contracts
Samples: Patent License Agreement, Patent License Agreement, Patent License Agreement (Aegerion Pharmaceuticals, Inc.)
