Mapping Array™ Program Payments Sample Clauses

Mapping Array™ Program Payments. In consideration of the performance by ArQule of the Mapping Array™ Program during the term provided for in Section 3.5, Wyeth-Ayerst shall pay ArQule an annual subscription fee of $1,500,000. Each subsequent annual subscription fee after the 1998 Contract Year shall be as follows: 1999 Contract Year Annual Subscription Fee = $1,545,000. 2000 Contract Year Annual Subscription Fee = $1,591,350. 2001 Contract Year Annual Subscription Fee = $1,639,091. Beginning in 1998, any such annual subscription fee is payable one-third (1/3) upon the start of such Contract Year, one-third (1/3) within thirty (30) days of the delivery of one-half the Mapping Array™ to be provided by ArQule in such Contract Year, and one-third (1/3) within thirty (30) days of the delivery of the remainder of the Mapping Arrays™ to be provided by ArQule in such Contract Year. The payment schedule for annual subscription fees shall be as follows: In 1997 Contract Year: $500,000. In 1998 Contract Year: $2,500,000. In 1999 Contract Year: $1,545,000. In 2000 Contract Year: $1,591,350. In 2001 Contract Year: $1,639,091.
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