Development and Regulatory Milestones. Buyer shall pay (which payments shall not be creditable against any other obligations of Buyer hereunder) a non-refundable payment for each of the milestone events set forth in this Section 3.2 (each a “Development and Regulatory Milestone”), whether the Development and Regulatory Milestone is achieved by Buyer, its Affiliates or Licensees, or any Third Party acting on behalf of Buyer, its Affiliates or Licensees. Payment for each of the Development and Regulatory Milestones shall be made only once regardless of how many times a Product achieves the corresponding Development and Regulatory Milestone, and no payment shall be due for any Development and Regulatory Milestone which is not achieved. The Development and Regulatory Milestones shall be as follows: Development and Regulatory Milestone Payment [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) Buyer shall provide Seller with written notice within thirty (30) days after the achievement of the corresponding Development and Regulatory Milestone and the payment pertaining to such Development and Regulatory Milestone shall be made by Buyer to Seller within ninety (90) days after the achievement of the corresponding Development and Regulatory Milestone.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Macrogenics Inc), Patent Assignment Agreement (Provention Bio, Inc.)
Development and Regulatory Milestones. Buyer shall pay (which payments shall not be creditable against any other obligations of Buyer hereunder) a non-refundable payment for each of the milestone events set forth in this Section 3.2 (each a “Development and Regulatory Milestone”), whether the Development and Regulatory Milestone is achieved by Buyer, its Affiliates or Licensees, or any Third Party acting on behalf of Buyer, its Affiliates or Licensees. Payment for each of the Development and Regulatory Milestones shall be made only once regardless of how many times a Product achieves the corresponding Development and Regulatory Milestone, and no payment shall be due for any Development and Regulatory Milestone which is not achieved. The Development and Regulatory Milestones shall be as follows: Development and Regulatory Milestone Payment [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) ] Buyer shall provide Seller with written notice within thirty (30) days after the achievement of the corresponding Development and Regulatory Milestone and the Milestone. The payment pertaining to such each Development and Regulatory Milestone, other than the BLA Approval Milestone Payment which shall be governed in accordance with Section 3.2(a), shall be made by Buyer to Seller within ninety (90) days after the achievement of the corresponding Development and Regulatory Milestone.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Provention Bio, Inc.), Asset Purchase Agreement (Macrogenics Inc)
Development and Regulatory Milestones. Buyer shall pay (which payments shall not be creditable against any other obligations of Buyer hereunder) a non-refundable payment for each of the milestone events set forth in this Section 3.2 (each a “Development and Regulatory Milestone”), whether the Development and Regulatory Milestone is achieved by Buyer, its Affiliates or Licensees, or any Third Party acting on behalf of Buyer, its Affiliates or Licensees. Payment for each of the Development and Regulatory Milestones shall be made only once regardless of how many times a Product achieves the corresponding Development and Regulatory Milestone, and no payment shall be due for any Development and Regulatory Milestone which is not achieved. The Development and Regulatory Milestones shall be as follows: Development and Regulatory Milestone Payment [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) [****] [****] United States dollars ($[****]) Buyer shall provide Seller with written notice within thirty (30) days after the achievement of the corresponding Development and Regulatory Milestone and the payment pertaining to such Development and Regulatory Milestone shall be made by Buyer to Seller within ninety (90) days after the achievement of the corresponding Development and Regulatory Milestone.
Appears in 2 contracts
Samples: Patent Assignment Agreement (Provention Bio, Inc.), Patent Assignment Agreement (Provention Bio, Inc.)
