Common use of Licensee Fee Clause in Contracts

Licensee Fee. Licensee shall pay to NovaDel $ *** as an up-front licensing fee for the Designated Compound, payable in cash as follows: 4.4.1 $ *** within 10 Business Days of the first date on which the Licensee has received an aggregate of $5,000,000 through an equity financing or otherwise (including receipt of any milestone payments or other revenues); and 4.4.2 $ *** within 10 Business Days of the first date on which the Licensee has received an aggregate of $10,000,000 through an equity financing or otherwise (including receipt of any milestone payments or other revenues).

Licensee Fee. Licensee shall pay to NovaDel $ *** $500,000 as an up-front licensing fee for the Designated Compound, payable in cash as follows: 4.4.1 $ *** $250,000 within 10 Business Days of the first date on which the Licensee has received an aggregate of $5,000,000 through an equity financing or otherwise (including receipt of any milestone payments or other revenues); and 4.4.2 $ *** $250,000 within 10 Business Days of the first date on which the Licensee has received an aggregate of $10,000,000 through an equity financing or otherwise (including receipt of any milestone payments or other revenues).