Payment of Milestones. Each Milestone Payment payable under this Section 7.2 shall be non-refundable and, except as provided in Section 7.8 and Section 7.14, non-creditable. The Parties acknowledge and agree that Milestone Payments do not constitute royalties within the meaning of U.S. Bankruptcy Code §365(n) or relate to licenses of intellectual property hereunder.
Appears in 4 contracts
Samples: Collaboration and Option Agreement (Morphic Holding, Inc.), Collaboration and Option Agreement (Morphic Holding, Inc.), Collaboration and Option Agreement (Morphic Holding, Inc.)