Payments Between the Parties. In the event that (a) any payment hereunder (including any royalty payment due by Genocea to Isconova under this Agreement) is made after the date such payment was due pursuant to the terms of this Agreement (other than the extent that a payment that is the subject of a good faith dispute between the Parties that has been outstanding for no more than sixty (60) Business Days), and (b) such payment is overdue by more than fifteen (15) Business Days, the paying Party shall pay interest to the other Party at the lesser of (i) the interest rate of one and a half (1.5%) percent a month or (ii) the highest rate permitted by applicable law from the date that such additional amount should have first been paid.
Appears in 4 contracts
Samples: License and Collaboration Agreement (Genocea Biosciences, Inc.), License and Collaboration Agreement (Genocea Biosciences, Inc.), License and Collaboration Agreement (Genocea Biosciences, Inc.)
