Subsequent Research Programs. In connection with the selection by ARES TRADING of each additional Target under Section 4.4, ARES TRADING shall pay Intrexon a non-refundable, non-creditable Program Initiation Payment of [*****] (“Research Program Payment”) research funding to perform the activities under the agreed Research Plan in [*****] installments of [*****] over [*****] Calendar Quarters. Within thirty (30) days after the end of each Calendar Quarter and following the receipt of the corresponding proper invoice, ARES TRADING shall pay the invoiced amount. In no event shall the funding per Research Program exceed [*****].
Appears in 4 contracts
Samples: License and Collaboration Agreement, License and Collaboration Agreement, License and Collaboration Agreement (Intrexon Corp)
