Common use of PAYMENT AND STATEMENT Clause in Contracts

PAYMENT AND STATEMENT. 6.1 All payments due to CPF under this Agreement shall be made in US dollars (USD $) in cleared funds to the following bank account: Account name: [*] Account number: [*] Sort code: [*] IBAN: [*] BIC: [*] SWIFT CODE: [*] Address: [*] or such other account as CPF may notify ProNAi from time to time. 6.2 ProNAi shall pay to CPF: 6.2.1 the Signature Fee on the date specified in Clause 5.1; 6.2.2 the Product CTA Payment under and subject to Clause 5.2 [*] after the Product CTA Transfer Date provided that CPF shall invoice ProNAi for the Product CTA Payment on the Product CTA Transfer Date; 6.2.3 each Milestone Payment due under Clause 5.5 within [*] of receipt of invoice from CPF after the Milestone Event occurring, provided that ProNAi shall notify CPF in writing of the occurrence of any Milestone Event within [*] of the same, upon which CPF shall invoice ProNAi for the applicable Milestone Payment; 6.2.4 any royalties due pursuant to Clause 5.6 Quarterly [*] following the end of each Quarter in which the relevant Net Sales are invoiced by ProNAi or a Sub-Licensee; and 6.3 Where Licensed Products are sold in a currency other than United States Dollars (USD), the rate of exchange to be used for converting such other currency into USD shall be the average of the exchange rate (local currency per USD$1) published in the Wall Street Journal, Western Edition, under the heading “Currency Trading” on the first Business Day of each month in the Quarter. 6.4 All costs of transmission and currency conversion shall be borne by ProNAi.

PAYMENT AND STATEMENT. 6.1 All payments due to CPF under this Agreement shall be made in US dollars (USD $) in cleared funds to the following bank account: Account name: [*] Account number: [*] Sort code: [*] IBAN: [*] BIC: [*] SWIFT CODE: [*] Address: [*] or such other account as CPF may notify ProNAi from time to time. 6.2 ProNAi shall pay to CPF: 6.2.1 the Signature Fee on the date specified in Clause 5.1; 6.2.2 the Product CTA Payment under and subject to Clause 5.2 [*] after the Product CTA Transfer Date provided that CPF shall invoice ProNAi for the Product CTA Payment on the Product CTA Transfer Date; 6.2.3 each Milestone Payment due under Clause 5.5 within [*] of receipt of invoice from CPF after the Milestone Event occurring, provided that ProNAi shall notify CPF in writing of the occurrence of any Milestone Event within [*] of the same, upon which CPF shall invoice ProNAi for the applicable Milestone Payment; 6.2.4 any royalties due pursuant to Clause 5.6 Quarterly [*] following the end of each Quarter in which the relevant Net Sales are invoiced by ProNAi or a Sub-Licensee; andand *Confidential Treatment Requested. EXECUTION VERSION CONFIDENTIAL 6.3 Where Licensed Products are sold in a currency other than United States Dollars (USD), the rate of exchange to be used for converting such other currency into USD shall be the average of the exchange rate (local currency per USD$1) published in the Wall Street Journal, Western Edition, under the heading “Currency Trading” on the first Business Day of each month in the Quarter. 6.4 All costs of transmission and currency conversion shall be borne by ProNAi.