Common use of Technology Access Fees Clause in Contracts

Technology Access Fees. In further consideration for the Research License and for the access to the FivePrime Background Know-How during the Research Term, UCB shall pay to FivePrime non-refundable technology access fees. The technology access fees will be payable as three (3) equal payments of two million two hundred thousand dollars ($2,200,000) each, to be due and payable as follows: (a) within *** Business Days after the Effective Date; (b) on the first anniversary of the Effective Date; and (c) on the second anniversary of the Effective Date.