Development Milestone Event Milestone Payment Sample Clauses
The Development Milestone Event Milestone Payment clause defines the conditions under which payments are made upon the achievement of specific project milestones. Typically, this clause outlines the particular events or deliverables that must be completed to trigger a payment, such as the submission of a prototype or the completion of a testing phase. By linking payments to concrete progress markers, this clause ensures that compensation is tied to actual development achievements, thereby incentivizing timely performance and reducing the risk of payment disputes.
Development Milestone Event Milestone Payment. 1 […***…] […***…] 2 […***…] […***…] 3 […***…] […***…] 4 […***…] […***…] 5 […***…] […***…] 6 […***…] […***…] 7 […***…] […***…] 8 […***…] […***…] Total […***…] † The specific required criteria known as “D4” are, as of the Effective Date, set forth in that certain email communication from Bayer to Dimension dated April 30, 2014. Each milestone payment is payable […***…], regardless of the number of times the corresponding event is achieved by a Licensed GT Product and/or Licensed Treatment and regardless of the number of Licensed GT Products and/or Licensed Treatments to achieve such event. Under no circumstances shall Bayer be obligated to pay Dimension more than […***…] pursuant to this Section 6.2. For the avoidance of doubt, the Parties acknowledge and agree that, (a) with respect to Milestone […***…] above, in the event that some but not all of the criteria for […***…] are met for a Licensed Product and/or Licensed Treatment, such that there is no current achievement of […***…] as defined, then to the extent the subsequent milestone event (i.e., Milestone […***…]) is achieved at a later date for such Licensed Product and/or Licensed Treatment, […***…] shall be deemed to have occurred at such later date and the corresponding milestone payments for both Milestone […***…] and Milestone […***…] shall be paid together; and (b) if the […***…], then all development milestone events relating to […***…] shall be deemed to have been met. To that end, if for any reason, any such related milestone payments have not been made, such milestone payments shall be due and owing upon […***…]. For example: if […***…] and any of Milestone Events […***…] or […***…] have not been paid for any reason, all such unpaid milestones shall be paid together with the payment of the milestone payment for the achievement of development Milestone Event […***…].
Development Milestone Event Milestone Payment. Upon [***]. ¥[***]
Development Milestone Event Milestone Payment. (i) Earlier of (a) the first Successful Completion of a Phase 1 Clinical Trial, following the ad hoc JSC meeting pursuant to Section 4.4(b) to evaluate the tabulated data from such trial or (b) Initiation of the first Phase 2 PoC Clinical Trial Four million Dollars ($4,000,000) [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] Total Either • Fifty million five hundred thousand Dollars ($50,500,000) (if milestone (iv) above is achieved on or before [**]) or • Forty-three million Dollars ($43,000,000) (if milestone (iv) above is achieved on or after [**]) Each milestone payment is payable one time only, regardless of the number of times the corresponding event is achieved by a Licensed Product and regardless of the number of Licensed Products to achieve such event. Under no circumstances shall Jazz be obligated to pay Concert more than fifty million five hundred thousand Dollars ($50,500,000) pursuant to this Section 6.3. If a milestone event set forth in (ii) through (v) of the table above is achieved prior to the achievement of an earlier milestone set forth in (i) through (iv) of the table above, or if a milestone event set forth in (vi) and (vii) of the table above is achieved prior to the achievement of an earlier milestone set forth in (i), (ii) or (vi) of the table above, then payment for such earlier unachieved milestone payment shall be due and payable simultaneously with the payment of the later milestone event.
Development Milestone Event Milestone Payment. Initiation of the first [***] Clinical Trial [***] Dollars ($[***]) First Regulatory Approval in [***] [***] Dollars ($[***]) First Regulatory Approval by [***] [***] Dollars ($[***]) First Regulatory Approval in [***] [***] Dollars ($[***]) Total Fifty-two million five hundred thousand Dollars ($52,500,000) [***] = CERTAIN CONFIDENTIAL INFORMATION OMITTED Each milestone payment is payable one time only for each Exclusive Program, regardless of the number of times the corresponding event is achieved by an Exclusive Product in each Exclusive Program and regardless of the number of Exclusive Products in each Exclusive Program to achieve such event. Under no circumstances shall Ziopharm be obligated to pay Precigen more than fifty-two million five hundred thousand Dollars ($52,500,000) pursuant to this Section 6.2 for each Exclusive Program or more than [***] Dollars ($[***]) in total for all four Exclusive Programs under this Agreement.
Development Milestone Event Milestone Payment. The aggregate Net Sales of Licensed Products in the Territory in a calendar year exceed two hundred million Dollars ($200,000,000) [***] The aggregate Net Sales of Licensed Products in the Territory in a calendar year exceed five hundred million Dollars ($500,000,000) [***] Under no circumstances shall K▇▇▇▇▇ be obligated to pay GigaGen more than eight million Dollars ($8,000,000) pursuant to this Section 4.3.
Development Milestone Event Milestone Payment. Engineering Batch Release [***] First IND Acceptance for a Licensed Product [***] Initiation of the first Phase 2 Clinical Trial of a Licensed Product [***] Initiation of the first Pivotal Clinical Trial of a Licensed Product [***] First Regulatory Approval of a Licensed Product in the U.S. for a first Indication [***] First Regulatory Approval of a Licensed Product in the U.S. for a second Indication [***] First Regulatory Approval of a Licensed Product in the U.S. for a third Indication [***] First approval of a BLA for a Licensed Product by the EMA [***] First approval of a BLA for a Licensed Product in Japan [***] Each milestone payment set forth above shall be payable only once, regardless of the number of times the applicable milestone event is achieved by any Licensed Product and regardless of the number of Licensed Products to achieve the applicable milestone event. Under no circumstances shall K▇▇▇▇▇ be obligated to pay GigaGen more than twenty million two hundred fifty thousand Dollars ($20,250,000) under this Section 4.3.
Development Milestone Event Milestone Payment. [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] The provisions regarding milestone payments set forth in Section 6.3.4 shall be applicable to each [***] and to [***] individually. For clarity, a separate set of milestone payments will be payable for each of [***] and [***].
Development Milestone Event Milestone Payment. Receipt of the first MAA approval in mainland China for the Licensed Product for the first Indication * U.S. Dollars (US$*)
Development Milestone Event Milestone Payment. Receipt of notice of allowance by the USPTO for the first Licensed Patent Two hundred thousand Dollars ($200,000) Completion of the first Pilot PK Study of a Licensed Product in the Field that meets the PK profile as defined by the JSC in the Development Plan Two hundred fifty thousand Dollars ($250,000) Initiation of a Phase 3 Clinical Trial of a Licensed Product for a first Indication in the Field Two hundred fifty thousand Dollars ($250,000) Completion of a Phase 3 Clinical Trial of a Licensed Product for a first Indication in the Field Two hundred fifty thousand Dollars ($250,000) Initiation of a Phase 3 Clinical Trial of a Licensed Product for a second Indication in the Field Two hundred fifty thousand Dollars ($250,000) Completion of a Phase 3 Clinical Trial of a Licensed Product for a second Indication in the Field Two hundred fifty thousand Dollars ($250,000) Approval by the FDA of the first NDA of a Licensed Product for a first Indication in the Field Two million Dollars ($2,000,000) Approval by the FDA of the first NDA of a Licensed Product for a second Indication in the Field Two million Dollars ($2,000,000) Each milestone payment is payable one time only, regardless of the number of times the corresponding event is achieved by a Licensed Product and regardless of the number of Licensed Products to achieve such event.
Development Milestone Event Milestone Payment. [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***]