Common use of Commercialization Milestone Payments Clause in Contracts

Commercialization Milestone Payments. In the event that BI achieves a Commercialization milestone, BI shall promptly, but in no event more than sixty (60) days after the end of the calendar quarter in which the achievement of each such milestone occurred notify Vitae of the achievement such event. The following non-refundable, non-creditable milestone payments will be payable one time only for the first Product to reach such milestone and will apply to such Product across all indications. “Annual Net Sales” shall mean the cumulative, total worldwide Net Sales of a given Product in a given calendar year. ****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTION. CONFIDENTIAL TREATMENT REQUESTED EXECUTION COPY

Commercialization Milestone Payments. In the event that BI achieves a Commercialization milestone, BI shall promptly, but in no event more than sixty (60) days **** after the end of the calendar quarter in which the achievement of each such milestone occurred notify Vitae of the achievement such event. The following non-refundable, non-creditable milestone payments will be payable one time only for the first Product to reach such milestone and will apply to such Product across all indications. “Annual Net Sales” shall mean the cumulative, total worldwide Net Sales of a given Product in a given calendar year. ****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTION. CONFIDENTIAL TREATMENT REQUESTED EXECUTION COPYPORTIONS.