Development and Commercialization Milestones Sample Clauses
The Development and Commercialization Milestones clause sets out specific objectives or achievements that must be met during the development and commercialization phases of a product or technology. These milestones often include deadlines for completing research, initiating clinical trials, obtaining regulatory approvals, or reaching certain sales targets. By clearly defining these benchmarks, the clause ensures that both parties have a shared understanding of progress expectations and provides a mechanism to monitor performance, incentivize timely advancement, and address delays or underperformance.
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Development and Commercialization Milestones. In consideration for the licenses granted herein under the Ambrx Patent Rights and the Ambrx Know-How and subject to the terms and conditions contained herein, Agensys shall pay to Ambrx the following amounts, which shall be non-refundable and shall be non-creditable, with respect to each Commercial Target for which Agensys achieves the following milestone event during the Term (the “Development/Commercial Milestones”): [***] [***] [***] [***] ***Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] For clarity, each of the foregoing Development/Commercial Milestones in this Section 5.3.2 shall be payable only one (1) time for a given Commercial Target upon the initial achievement of the applicable Development/Commercial Milestone and no amounts shall be due hereunder for subsequent or repeated achievement of such Development/Commercial Milestone for such Commercial Target (e.g., achievement of the same Development/Commercial Milestones for separate Compounds or Products for such Commercial Target would not trigger separate Development/Commercial Milestone payments). In addition, in the event that a prior Research Milestone or Development Milestone has not been paid for a given Commercial Target, and a subsequent Development Milestone is achieved for such Commercial Target, then all such unpaid prior Research Milestones and Development Milestones for such Commercial Target shall be paid simultaneously with the payment of such subsequent Development/Commercial Milestone which is achieved (by way of example, (i) if Development Milestone 2 is achieved for a given Target and the Research Milestone or Development Milestone 1 has not been paid with respect to such Target, then such Research Milestone and Development Milestone 1 shall be paid simultaneously with the payment of Development Milestone 2, and (ii) if [***], and so on with respect to each of the Development/Commercial Milestones of a given Target); provided, however, that in all cases, the Research Milestones and all Development/Commercialization Milestones shall be payable only one (1) time for a given Commercial Target.
Development and Commercialization Milestones. In consideration for the licenses granted herein under the Ambrx Patent Rights and Ambrx Know-How, upon the terms and conditions contained herein, Merck shall pay to Ambrx the following amounts, which shall be non-refundable and shall be non-creditable, with respect to each Selected Target for which Merck achieves the following milestone event during the Term (provided, however that for clarity, the following amounts shall only be triggered by Compounds (or Products containing such Compounds, as applicable) for which Merck exercised its Option pursuant to Section 3.6.1) (the “Development/Commercial Milestones”): [***] [*** ] [***] [*** ] [***] [*** ] [***] [*** ] [***] [*** ] [***] [*** ] [***] [*** ] [***] [*** ] [***] [*** ] [***] [*** ] For clarity, [***] [***]. ***Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.
Development and Commercialization Milestones. On a Licensed Product-by- Licensed Product basis, DS shall pay to Kite the non-refundable, non-creditable milestone payments set forth in the table below within […***…] of the first achievement by such Licensed Product of the applicable milestone event (whether by DS or its Affiliate or Sublicensee). For the avoidance of doubt, […***…]. Development and Commercialization Milestone Events Development and/or Commercialization Milestone Payment (in US$)
1) […***…] $[…***…] $[…***…]
2) […***…] $[…***…] $[…***…]
3) […***… $[…***…] $[…***…]* * […***…]
Development and Commercialization Milestones