Common use of Research and Development Payments Clause in Contracts

Research and Development Payments. Eurobiotech agrees to pay SRI a further $50,000 within 90 days of signing the Co-Development Agreement to be used for research and development to be conducted at SRI's laboratories with respect to the use of 2'-fluoro-2-halo substituted purine nucleoside(s) for therapeutic indications other than cancer. The research and development program will be mutually agreed upon by the parties and funding will begin no later than thirty (30) days after such agreement or within ninety (90) days of the effective date of the Co-Development Agreement, whichever date is earlier. It is not intended that the sum defined in this paragraph shall be the total cost of the research and development program for therapeutic indications other than cancer.