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MANUFACTURING SUPPORT AND SUPPLY AGREEMENT
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This Supply Contract Advance Payment clause is from the contract involving SPHERIX INC | Biospherics, Inc . RealDealDocs contains millions of easily searchable legal documents and clauses from top law firms. Search our Legal Agreements or our Contract Clause Library for free.

Title: MANUFACTURING SUPPORT AND SUPPLY AGREEMENT
Governing Law: Manufacturing Agreement Maryland
Date: 12/18/2009
Industry: Computer Services     Sector: Technology
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5.3 - Advance Payment.

In connection with the Initial Order, Biospherics shall make the following payments to Inalco in advance of delivery of Product (each, an "Advance Payment"): A. Within three business days following execution of this Agreement, Biospherics will make an advance payment of five hundred thousand dollars (US$500,000) to Inalco. B. Within six months thereafter, provided that Inalco has in place the required bank guarantee described in Section 2.8, Biospherics will make payment for the balance of the Initial Order in the amount of five hundred thousand dollars (US$500,000). 4 ARTICLE VI: TERM