Common use of Project Payments Clause in Contracts

Project Payments. Under each Project Agreement, MRK will compensate ArcherDX for ArcherDX’s Activities according to the Milestones specified in the Project Agreement, which shall be due and payable in accordance with the following schedule: 5.1.1 Unless otherwise stated in the Project Agreement, [**], following the DLs’ approval of the initiation of the corresponding Project Phase and MRK’ receipt of the corresponding invoice; and 5.1.2 Unless otherwise stated in the Project Agreement, [**], following receipt of the Final Report for the corresponding Project Phase and corresponding invoice.