Clinical and Regulatory Milestones. In the event Xxxxxxx exercises the Xxxxxxx Option, Xxxxxxx shall make each milestone payment set forth below to PPD within forty-five (45) days of receipt of an invoice from PPD after the occurrence of the related milestone event. Each such milestone payment shall be payable once under this Agreement, with respect to the first occurrence of the related milestone event for the Licensed Product to achieve such milestone. Xxxxxxx shall give PPD written notice of the occurrence of a milestone event described below within ten (10) business days thereof.
Appears in 4 contracts
Samples: Development and License Agreement (Pharmaceutical Product Development Inc), Development and License Agreement (Furiex Pharmaceuticals, Inc.), Development and License Agreement (Pharmaceutical Product Development Inc)
