Movychem Patent Purchase Price

Movychem Patent Purchase Price. Means (a) $2,000,000 payable when Xeriant makes its capital contribution pursuant to Section 3.3(b); (b) $600,000 payable at the rate of $25,000 per month commencing the next month following the execution of the Xeriant Services Agreement and (c) 40% of all royalty payments received by the Joint Venture for the licensing of the Joint Venture Patents.