RESEARCH SUPPORT PAYMENTS

Example Definitions of "RESEARCH SUPPORT PAYMENTS"
RESEARCH SUPPORT PAYMENTS. Payments actually received by COMPANY or an AFFILIATE from a SUBLICENSEE for the purposes of funding the costs of bona fide research and development activities directed toward products and processes, including LICENSED PRODUCTS and/or LICENSED PROCESSES, but only to the extent that COMPANY or such AFFILIATE can demonstrate that (i) such costs are incurred after the date of such SUBLICENSE pursuant to a written research and development plan and budget, both as mutually agreed between COMPANY or... such AFFILIATE and such SUBLICENSEE, and (ii) such payments are only used to pay for: (a) the purchase, lease or use of equipment, supplies, raw materials, products or services, or (b) the use of employees and/or consultants, to achieve a bona fide research and/or development goal for the commercialization of products and processes, including LICENSED PRODUCTS and/or LICENSED PROCESSES, as indicated for example by their inclusion as specific line items in the research and development plan. View More
RESEARCH SUPPORT PAYMENTS. Payments to COMPANY or an AFFILIATE from a SUBLICENSEE for the purpose of funding the costs of bonafide research and development of LICENSED PRODUCTS and LICENSED PROCESSES and that are expressly intended only to fund or pay for (i) the purchase or use of equipment, supplies, products or services, or (ii) the use of employees and/or consultants, to achieve a bona fide research and/or development goal for the commercialization of LICENSED PRODUCTS or LICENSED PROCESSES, as indicated by their... inclusion as specific line items in a written agreement between COMPANY or AFFILIATE and the SUBLICENSEE. View More
All Definitions