Common use of Consideration and Payment Terms Clause in Contracts

Consideration and Payment Terms. The Parties hereto understand that the fees and royalties payable by Licensee to Licensors under this Agreement are partial consideration for the license granted under this Agreement. Licensors acknowledge and agree that all payments to be made under or in connection with this Agreement shall be made to Foundation on behalf of Licensors, and Licensee does not have an obligation to make payments directly to PSRF unless specifically agreed to otherwise by all the Parties in writing. Any sharing of such payments between the Licensors that is required under the IIA shall be the sole responsibility of Foundation.