Common use of Initial Licensing Fee Clause in Contracts

Initial Licensing Fee. As partial payment for the --------------------- patent licenses granted by CTI pursuant to Section 6.01 hereof, ORTHO shall pay to CTI a license fee equal to five million dollars ($5,000,000) upon execution of this Agreement. This fee shall be nonrefundable and shall be noncreditable against any future obligations of ORTHO under this Agreement.