Common use of Research Program Funding Clause in Contracts

Research Program Funding. Fuso shall pay to GenVec funding for the Research Program of one million five hundred thousand dollars ($1,500,000) each calendar year during the Funded Research Term. Such amounts shall be paid to GenVec in equal quarterly installments of three hundred seventy five thousand dollars ($375,000), in advance. The initial payment shall be paid by January 1, 2003, and subsequent payments shall be made on or before the first day of each succeeding calendar quarter (i.e., April 1, July 1, October 1, January 1). Such payments shall be made without withholding for taxes or any other charge and, subject to Section 2.6.3, shall be non-refundable.

Research Program Funding. Fuso shall pay to GenVec funding for the Research Program of one million five seven hundred fifty thousand dollars ($1,500,000750,000) each calendar year during the Funded Research Program Term. Such amounts shall be paid to GenVec in equal quarterly installments of three one hundred seventy eighty-seven thousand five thousand hundred dollars ($375,000187,500), in advance. The initial payment shall be paid by January 1, 2003, within fourteen (14) days from the Effective Date and subsequent payments shall be made on or before the first day applicable quarterly anniversary of each succeeding calendar quarter (i.e., April 1, July 1, October 1, January 1)the Effective Date. Such payments shall be made without withholding for taxes or any other charge and, subject to Section 2.6.3, shall be non-refundable.

Research Program Funding. Fuso shall pay to GenVec funding for the ------------------------ Research Program of one million five seven hundred fifty thousand dollars ($1,500,000750,000) each calendar year during the Funded Research Program Term. Such amounts shall be paid to GenVec in equal quarterly installments of three one hundred seventy eighty-seven thousand five thousand hundred dollars ($375,000187,500), in advance. The initial payment shall be paid by January 1, 2003, within fourteen (14) days from the Effective Date and subsequent payments shall be made on or before the first day applicable quarterly anniversary of each succeeding calendar quarter (i.e., April 1, July 1, October 1, January 1)the Effective Date. Such payments shall be made without withholding for taxes or any other charge and, subject to Section 2.6.3, shall be non-refundable.