Common use of PAYMENTS BY Clause in Contracts

PAYMENTS BY. CENTOCOR ---------------------------------- 3.01 In consideration of the rights granted hereunder, CENTOCOR shall pay to UA [**] dollars [**] in the first Agreement Year in support of the Research to be conducted in such year, payable at quarterly intervals. Centocor shall also pay to UA [**] dollars [**] within thirty (30) days of Effective Date as an upfront license fee. 3.02 Subject to the provisions of Article 1.02, the second and third Agreement Years shall be funded at levels specified in the approved Research Plan and Budget for each Agreement Year, and payments shall be made quarterly.

PAYMENTS BY. CENTOCOR ---------------------------------- 3.01 In consideration of the rights granted hereunder, CENTOCOR shall pay to UA [**] seventy-one thousand seven hundren and twenty dollars [**] ($71,720) in the first Agreement Year in support of the Research to be conducted in such year, payable at quarterly intervals. Centocor shall also pay to UA [**] ten thousand dollars [**] ($10,000) within thirty (30) days of Effective Date as an upfront license fee. 3.02 Subject to the provisions of Article 1.02, the second and third Agreement Years shall be funded at levels specified in the approved Research Plan and Budget for each Agreement Year, and payments shall be made quarterly.