Common use of Exclusivity Payments Clause in Contracts

Exclusivity Payments. (a) In consideration of the exclusivity obligations set forth in Section 7, Amgen will have the option but not the obligation to pay to BIND the following Exclusivity Payments on the corresponding Due Date: Due Date Exclusivity Payment [***] [*** ] [***] [*** ] [***] [*** ] [***] [*** ] [***] [*** ] (b) Amgen may initiate the Extended Exclusivity Period at any time during the Term; provided that, if Amgen initiates the Extended Exclusivity Period at any time after the expiration of the Initial Exclusivity Period (such interim period is the “Exclusivity Lapse Period”), then Amgen shall be obligated to pay an amount equal to [***] of each of the Exclusivity Payments listed above for the Exclusivity Lapse Period. Any early payment of an Exclusivity Payment will not extend the Exclusivity Period. Amgen may inquire of BIND if the exclusivity specified in Section 7.1 is still available during any such deferral. (c) For clarity, (i) Amgen will not be obligated to make any Exclusivity Payments, but absent payment of any or all Exclusivity Payments when due (subject to deferral as provided in Section 9.6(b)), the Exclusivity Period will end as provided in the definition thereof, and (ii) no previously paid Exclusivity Payments will be reimbursed even if the Exclusivity Period ends.