Technology Development. Within [*****] days after the Effective Date, DOW shall pay to DIVERSA a technology development fee of One Million Five Hundred Thousand (US$1,500,000) Dollars, and shall similarly provide DIVERSA with a technology development fee of One Million Five Hundred Thousand (US$1,500,000) Dollars, during the Agreement Term, within [*****] days of each of the successive two anniversary dates of the Effective Date. Thus within [*****] days after the Effective date, DOW shall pay to DIVERSA a technology development fee of One Million Five Hundred Thousand (US$1,500,000) Dollars and Nine Hundred Thousand (US$900,000) Dollars for the first quarter FTE payment under Section 4.4 for a total of Two Million Four Hundred Thousand (US$2,400,000) Dollars.
Appears in 2 contracts
Sources: Collaborative Research Agreement (Diversa Corp), Collaborative Research Agreement (Diversa Corp)