PAYMENTS AND RESPONSIBILITIES Sample Clauses

PAYMENTS AND RESPONSIBILITIES. In return for [*], Pfizer shall pay ArQule an amount (the "[*] Cost") between [*] (the "Minimum [*] Cost") and [*] (the "Maximum [*] Cost") depending upon [*]. ArQule shall deliver [*] no later than [*] months from the Effective Date, at which time Pfizer shall acquire legal title and shall bear the risk of loss. The Minimum [*] Cost shall be paid as follows: [*] shall be payable within [*] days of execution of this Agreement and the remaining [*] shall be payable over [*] years beginning on [*], in advance quarterly installments, each of [*] during [*] years, and each of [*] during [*] years. In addition to the Minimum [*] Cost, Pfizer will pay ArQule an additional amount of up to [*] payable over [*] years beginning on the [*], in quarterly installments, each of up to[*] during [*] years, and each of up to [*] during [*] years, in ------------------ *Confidential treatment has been requested for the marked portion. each case if, as, and when the [*] achieves [*], as determined by the Steering Committee. Such additional amount (the "[*] Amount") shall be determined at the end of each Quarter during the [*] year period beginning [*]. At the end of each quarter, if [*]. Pfizer will pay ArQule the Quarterly installments of [*] Costs within thirty (30) days of receipt of invoice and certification.