Common use of Signature Payment Clause in Contracts

Signature Payment. If during the Initial Term, ----------------- TheraSense terminates this Agreement pursuant to Section 9.3.2 or 11.1.2, or Nipro terminates this Agreement pursuant to Section 12.2 due to TheraSense's material breach, TheraSense shall repay to Nipro a portion of the Signature Payment paid by Nipro to TheraSense pursuant to Section 3.1 as follows: (a) immediately prior to the effective date of Termination the parties shall determine the number of full years remaining in the Initial Term; and (b) for each full year remaining in the Initial Term, TheraSense shall repay to Nipro Five Hundred Thousand Dollars (USD $500,000). (c) Except as provided for in this Section 12.6.2, TheraSense shall have no obligation to repay any of the Signature Payment to Nipro.