Common use of Consideration for the License Clause in Contracts

Consideration for the License. In consideration of the rights granted under this Agreement Cougar shall pay to ▇▇▇ the following: (a) [***] upon commencement of this Agreement; (b) [***] upon completion of a Cougar sponsored (or sublicensee sponsored) Phase II Proof of Concept trial with a Product that achieves its primary endpoint as defined in the study protocol; (c) [***] upon the dosing of the first patient with a Product in a Cougar sponsored (or sublicensee sponsored) pivotal Phase III clinical trial; (d) [***] upon submission of the first Cougar sponsored (or sublicensee sponsored) New Drug Application by the Food and Drug Administration with a Product; (e) [***] upon the final approval by the Food and Drug Administration of the first Cougar sponsored (or sublicensee sponsored) New Drug Application for a Product; and (f) [***] upon the first final approval by the applicable regulatory agency in the European Union of the first Cougar sponsored (or sublicensee sponsored) application for a Product. Payment shall be made within 15 (fifteen) working days from the date mentioned in the relevant section by bank transfer to such bank account as designated by ▇▇▇ in writing.

Consideration for the License. In consideration of the rights granted under this Agreement Cougar shall pay to ▇▇▇ the following: (a) [***] Two hundred fifty thousand Dollars (USD250,000) upon commencement of this Agreement; (b) [***] upon completion of a Cougar sponsored (or sublicensee sponsored) Phase II Proof of Concept trial with a Product that achieves its primary endpoint as defined in the study protocol; (c) [***] upon the dosing of the first patient with a Product in a Cougar sponsored (or sublicensee sponsored) pivotal Phase III clinical trial; (d) [***] upon submission of the first Cougar sponsored (or sublicensee sponsored) New Drug Application by the Food and Drug Administration with a Product; (e) [***] upon the final approval by the Food and Drug Administration of the first Cougar sponsored (or sublicensee sponsored) New Drug Application for a Product; and (f) [***] upon the first final approval by the applicable regulatory agency in the European Union of the first Cougar sponsored (or sublicensee sponsored) application for a Product. Payment shall be made within 15 (fifteen) working days from the date mentioned in the relevant section by bank transfer to such bank account as designated by ▇▇▇ in writing.