Common use of Payment Duration Clause in Contracts

Payment Duration. Southern payments continue as long as Eurobiotech's, subject to good faith negotiations regarding the impact of patent expirations, non-patent countries, competition, infringement, know-how and other issues. Foreign Taxes Payments to Southern shall be made through Eurobiotech U.S.A. and will not include deductions for foreign taxes (which not-for-profit U.S. corporations have no means of crediting or offsetting). Due Diligence Upon the definitive Agreement being signed the two parties shall prepare, within 90 days of the date of signing, a business development plan outlining the strategy, timing and implementation of steps to commercialize the technology. Retention of rights by Eurobiotech is contingent upon submission of a NDA to the FDA within four years of the effective date of the definitive Agreement.