Common use of Initial Access Fee Clause in Contracts

Initial Access Fee. Omeros shall pay North Coast a fee of [†] (the “Initial Access Fee”) on invoice to be submitted upon execution of this Agreement for access rights to North Coast’s Pre-existing Intellectual Property and the New North Coast Intellectual Property (as such terms are defined in Sections 7.1 and 7.2.a, † DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION respectively) to be used by North Coast for Omeros’ benefit in performing the Services described under the Initial Research Plan and any other Research Plans covering Additional Targets for which Omeros exercises its Option prior to [†], and to permit Omeros to use, develop, commercialize, sell and distribute the Deliverables provided under the Initial Research Plan and any such other Research Plans. North Coast acknowledges receipt from Omeros on October 10, 2008 of [†] as partial payment towards the Initial Access Fee, and agrees that the invoice for the Initial Access Fee shall show a credit to Omeros for such amount and the total amount owing to North Coast for the Initial Access Fee shall be [†]. The Initial Access Fee is payable by Omeros only one time regardless of how many such Research Plans Omeros and North Coast enter into, and regardless of how many antibodies North Coast generates against MASP-2 and any Additional Targets.