Common use of Patent Expense Payment Clause in Contracts

Patent Expense Payment. Company will pay, or reimburse University for paying, all Patent Expenses incurred on or after the Effective Date, within thirty (30) days of its receipt of University’s invoice for such Patent Expenses. University reserves the right to request advance payments for certain Patent Expenses, at University’s discretion. Company will, within 30 days from raising Qualified Financing or one year from the Effective Date, whichever comes first (the “Patent Reimbursement Date”), to the extent not previously reimbursed to University by Company or a Third Party, reimburse University for all Patent Expenses incurred prior to the Effective Date. The amount of unreimbursed Patent Expenses invoiced to University prior to the Effective Date is approximately $ .

Patent Expense Payment. Company will pay, or reimburse University for paying, all Patent Expenses incurred on or after the Effective Date, Date within thirty (30) 30 days of its receipt of University’s invoice for such Patent Expenses. University reserves the right to request advance payments for certain Patent Expenses, at University’s discretion. Company will, within 30 days from raising Qualified Financing or one year from the Effective Date, whichever comes first (the “Patent Reimbursement Date”), to the extent not previously reimbursed to University by Company or a Third Party, reimburse University for all Patent Expenses incurred prior to the Effective Date. The amount of unreimbursed Patent Expenses invoiced to University prior to the Effective Date is approximately $ [*XXX*] US dollars ($XXX).