Contingent Sales Milestone Sample Clauses

Contingent Sales Milestone. In the event that the milestone payment for Phase III data in the Diabetic CKD Study under Section 6.1.2(iii) was not made for failure to meet the Target Phase III CKD Conditions, then Licensee shall pay to Licensor a one-time lump sum milestone payment of Fifty Million Dollars ($50,000,000) within ninety (90) days following the end of the first full Calendar Year in which aggregate Net Sales of a Licensed Product containing the Initial Licensed Compound in the Licensee Territory first exceeds One Billion Dollars ($1,000,000,000). The payment provided for in this Section 6.1.7 shall be payable no more than once, and shall not apply to any Licensed Product which does not contain the Initial Licensed Compound.