Up-Front Payment. Within ten (10) Business Days after the Effective Date and receipt of an invoice from Moderna, Merck will pay to Moderna a one-time payment of US $50,000,000 as consideration for access to Moderna’s research capabilities and the licenses granted herein (the “Upfront Payment”), which payment will be non-refundable, non-creditable, not subject to set-off, and not be reduced by any withholding or similar taxes.
Appears in 6 contracts
Samples: Master Collaboration and License Agreement, Master Collaboration and License Agreement, Master Collaboration and License Agreement (Moderna, Inc.)
