Option Exercise Fee. On a Research Program-by-Research Program basis, ▇▇▇▇▇▇▇ will pay to Morphic a one-time, non-refundable, non-creditable payment of [***] USD (each, an “Option Exercise Fee”) within [***] in accordance with Section 8.11 (Invoicing and Payment) after ▇▇▇▇▇▇▇’▇ receipt of an invoice from Morphic for the Option Exercise Fee for a Research Program, which invoice Morphic may not deliver until receipt by Morphic of an Option Exercise Notice for such Research Program.
Appears in 3 contracts
Sources: Research Collaboration and Option Agreement (Morphic Holding, Inc.), Research Collaboration and Option Agreement (Morphic Holding, Inc.), Research Collaboration and Option Agreement (Morphic Holding, Inc.)