Common use of Subsequent Tranches Clause in Contracts

Subsequent Tranches. CEPI will pay the initial 6-month tranche of funding after receipt of a payment request by Awardee following signature of this Agreement. All subsequent 6-month tranches will be paid by CEPI within [***] after receipt of all of the following: (i) a payment request by Awardee; and (ii) the required IPDP Report (Annex D) and Financial Reports (Annex F), adjusted appropriately for any underspend from any previous payments. ANNEX A: TERMS AND CONDITIONS – SCHEDULE A

Subsequent Tranches. CEPI will pay the initial 6-month tranche of funding after receipt of a payment request by Awardee following signature of this Agreement. All subsequent 6-month tranches for each Work Package will be paid by CEPI within [***] twenty (20) Business Days after receipt of all of the following: (i) a payment request by Awardee; and (ii) the required IPDP Report (Annex D) and Financial Reports (Annex F), adjusted appropriately for any underspend from any previous payments. ANNEX A: TERMS AND CONDITIONS – SCHEDULE A.