Optimization Program Funding Sample Clauses
The Optimization Program Funding clause defines how financial resources are allocated and managed for a program aimed at improving efficiency or performance. Typically, this clause outlines the funding sources, payment schedules, and any conditions or milestones that must be met for disbursement of funds. By clearly specifying the financial framework, it ensures that both parties understand their obligations and helps prevent disputes over funding responsibilities during the program's execution.
Optimization Program Funding. In partial consideration of the performance by ArQule of the lead optimization projects described in Section 4.2 hereof, SB shall pay ArQule for the FTEs assigned to such projects at the "Applicable FTE Rate" (as defined below) payable in advance in equal quarterly installments, with the first such payment to be made within forty-five (45) days of notification to the JSC of project initiation, and with each installment thereafter payable within five (5) business days of the first day of each fiscal quarter thereafter, upon invoice from ArQule. The "Applicable FTE Rate" will be determined as follows:
Optimization Program Funding. (a) Research Support for Project Team. At all times during the Optimization Period, ICOS shall make payments to Array for direct research support for its Project Team, which shall initially consist of [ * ] of Array, unless determined otherwise under Section 7.1(b). The total amount payable per FTE shall be U.S. [ * ] per FTE per annum ("FTE Rate"). The FTE Rate for any Calendar Year after [ * ] shall be adjusted annually at each anniversary of this Agreement by ICOS in accordance with the annual percentage change in Consumer Price Index for all Urban Consumers as published by the United States Department of Labor, Bureau of Labor Statistics. All payments for direct research support shall be paid by ICOS to Array, quarterly in advance, and adjusted as necessary in subsequent quarters, of such amounts as are equal to the product of (i) the number of FTEs [ * ] FTEs unless determined otherwise under Section 7.1(b)) allocated to the Optimization Program for the calendar quarter to which each such payment applies, multiplied by (ii) U.S. [ * ] (i.e., the quarterly amount per FTE on the basis of U.S. [ * ] per annum).
Optimization Program Funding. (a) Research Support for Project Team. At all times during the Optimization Period, ICOS shall make payments to Array for direct [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended. research support for its Project Team, which shall initially consist of [ * ] of Array, unless determined otherwise under Section 7.1(b). The total amount payable per FTE shall be U.S. [ * ] per FTE per annum ("FTE Rate"). The FTE Rate for any Calendar Year after [ * ] shall be adjusted annually at each anniversary of this Agreement by ICOS in accordance with the annual percentage change in Consumer Price Index for all Urban Consumers as published by the United States Department of Labor, Bureau of Labor Statistics. All payments for direct research support shall be paid by ICOS to Array, quarterly in advance, and adjusted as necessary in subsequent quarters, of such amounts as are equal to the product of (i) the number of FTEs [ * ] FTEs unless determined otherwise under Section 7.1(b)) allocated to the Optimization Program for the calendar quarter to which each such payment applies, multiplied by (ii) U.S. [ * ] (i.e., the quarterly amount per FTE on the basis of U.S. [ * ] per annum).
Optimization Program Funding