Diligence and Milestone Fees Sample Clauses

Diligence and Milestone Fees. 4.2.1 VGXI shall use commercially-reasonable efforts to develop for SALE and to market INO LICENSED PRODUCTS in a manner consistent with the DEVELOPMENT PLAN. *** Certain confidential information in this document has been omitted pursuant to a request for Confidential Treatment and filed separately with the Commission.
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Diligence and Milestone Fees. 2.2.1 As a partial consideration of the exclusive rights granted to VI, VI agrees to pay the following milestones. Due Date Payment Upon initiation of Phase II clinical trials for VGX-1027 for RA $ 1,500,000 Upon initiation of Phase III clinical trials for VGX-1027 for RA $ 3,000,000 Upon NDA submission for VGX-1027 for RA in the US or any country in the TERRITORRY $ 3,000,000 Upon NDA approval for VGX-1027 for RA in the US or any country in the TERRITORRY $ 5,000,000
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Diligence and Milestone Fees. 3.2.1 COMPANY shall use commercially-reasonable efforts to develop for SALE and to market PENN LICENSED PRODUCTS in a manner consistent with the DEVELOPMENT PLAN.
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Diligence and Milestone Fees. 4.2.1 For the term of this agreement, VGXAH shall provide VGXP on each January 30th, written progress reports, setting forth in such detail as VGXP may reasonably request, the progress of the development, evaluation, testing and commercialization of each DEVICE FACILITATED PRODUCT. VGXAH shall also notify VGXP in writing within thirty (30) days of the first SALE of each DEVICE FACILITATED PRODUCT and/or PATENTED DEVICE.
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Diligence and Milestone Fees. 3.2.1 VI shall use commercially reasonable efforts to develop for SALE and to market CELLECTRA™ DEVICE in the TERRITORY. VI and VGX agree to the following R&D milestones payments related to the use of CELLECTRA™ DEVICE to develop LICENSED PRODUCT in the TERRITORY. Said payments are due within sixty (60) days after the achievement of the respective milestone event: Milestone Payment Upon Filing of each IND $ 100,000 Upon initiation of each Phase II $ 150,000 Upon initiation of each Phase III clinical trial $ 250,000 Upon each BLA approval $ 500,000 Upon first commercial sale CELLECTRA™ DEVICE for each BLA $ 750,000
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Diligence and Milestone Fees. 4.2.1 VGXI agrees to the development diligence obligations including the number of studies, time lines, investment levels, and penalties for failure to meet such obligations as described in the DEVELOPMENT PLAN. VGXI agrees to the following minimum milestones:
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Diligence and Milestone Fees. 3.2.1 VI shall use commercially reasonable efforts to develop for SALE and to market VGX R&D PRODUCT(S) as drugs for treating T1D indication. VI and VGX agree to the following R&D milestones. The amount of the Milestone payments shall be determined within 6 months prior to the scheduled initiation of a Phase II clinical trial for VGX 1027. The amount shall be determined based on the industry benchmark as described below, and said payments are payable by VI to VGX within sixty (60) days after the achievement of the respective milestone event. The data on industry benchmark on such license terms shall be based on the benchmark data gathered by firms such as Recombinant Capital (xxxx://xxx.xxxxx.xxx) or other similar data gathering or consulting firms. If the parties cannot agree on the payment amount, the parties agree to hire two or more internationally reputable investment banks or accounting firms to determine said amount based on the firms’ own experience and expertise, or on the recommendation of an expert hired by them. Due Date Payment Upon completion of Phase I safety and dose-escalation studies TBD Upon completion of patient accrual for T1D Phase II clinical trial for VGX-1027 TBD Upon completion of patient TBD accrual for T1D Phase III clinical trial for VGX-1027 Upon NDA submission for VGX-1027 for T1D TBD Upon NDA approval for VGX-1027 for T1D TBD
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Diligence and Milestone Fees. 3.2.1 VI shall use commercially reasonable efforts to develop for SALE and to market VGX R&D PRODUCT(S) as drugs for treating GASTRIC CANCER indication. VI agrees to pay VGX the following Milestone Payments. The amount of the Milestone Payments (except for the one of Phase I clinical testing) shall be determined within 6 months prior to the scheduled initiation of a Phase II clinical trial for VGX-100. The amount shall be determined based on the industry benchmark as described below, and said payments are payable by VI to VGX within sixty (60) days after the achievement of the respective milestone event. The data on industry benchmark on such license terms shall be based on the benchmark data gathered by firms such as Recombinant Capital (xxxx://xxx.xxxxx.xxx) or other similar data gathering or consulting firms. If the parties cannot agree on the payment amount, the parties agree to hire two or more internationally reputable investment banks or accounting firms to determine said amount based on the firms’ own experience and expertise, or on the recommendation of an expert hired by them. Due Date Payment Upon completion of Phase I safety and dose-escalation studies To be determined (TBD) prior to the initiation of Phase I Studies Upon completion of patient accrual for GASTRIC CANCER Phase II clinical trial for VGX-100 TBD Upon completion of patient accrual for GASTRIC CANCER Phase III clinical trial for VGX-100 TBD Upon NDA submission for VGX-100 for GASTRIC CANCER TBD Upon NDA approval for VGX-100 for GASTRIC CANCER TBD
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Related to Diligence and Milestone Fees

  • Milestone Fees Licensee will pay Milestone Fees indicated in Section 3.1(b) of the Patent & Technology License Agreement by the Quarterly Payment Deadline for the Contract Quarter in which the milestone events set forth in Section 3.1(b) of the Patent & Technology License Agreement are achieved.

  • Milestone Payment Within thirty (30) days following the first Patent Issuance, Eton shall give written notice to Imprimis and shall pay to Imprimis a non-refundable and noncreditable payment of fifty thousand dollars ($50,000).

  • Commercial Milestone Payments Green Cross shall pay to MacroGenics the Net Sales milestone payments set forth below, which shall be due and payable within *** after the end of the first Calendar Year during which such milestone is triggered.

  • Milestone An event associated with a specific date, for which a payment will be due, as set out in the Payment Schedule of any Project Agreement.

  • Milestone Payments In addition to the payments set forth in Sections 4.1 through 4.3 above, Company shall pay Hospital milestone payments as follows:

  • Development Milestone Payments In partial consideration for the rights and licenses granted to Coya hereunder, within ten days after the first achievement of each milestone event in a given Indication set forth in this Section 5.2 (Development Milestone Payments) with respect to a Product (each, a “Development Milestone Event”) by or on behalf of Coya or any of its Affiliates or Sublicensees, Coya shall provide ARScience Bio written notice to ARScience Bio identifying the Development Milestone Event achieved. Upon receipt of any such notice of first achievement of a Development Milestone Event by Coya or its Affiliates or Sublicensees, ARScience Bio will promptly invoice Coya for the applicable Development Milestone Event and Coya will make a milestone payment to ARScience Bio in the amount set forth in this Section 5.2 (Development Milestone Payments) corresponding to such Development Milestone Event (each, a “Development Milestone Payment”) within 45 days of receipt of such invoice. On an Indication-by-Indication basis, each Development Milestone Payment shall be payable only upon the first achievement of the corresponding Development Milestone Event by a Product, in any given Indication for which the Development Milestone Events have not been previously achieved (each such Indication, a “New Indication”). No amounts shall be due for subsequent or repeated achievements of such Development Milestone Event with respect to the same or different Mono Product or Combination Product, as applicable, in such Indication. Accordingly and for clarity, the Development Milestone Payment shall be paid only once, when first achieved by Coya, an Affiliate or a Sublicensee, but no payment shall be due if the same milestone is subsequently achieved by one of Coya, an Affiliate or a Sublicensee. For clarity, the amounts owed in Column (a) below shall be due for the first Combination Product to achieve the Development Milestone Events in a New Indication and the amounts owned in Column (c) below shall be due for the first Mono Product to achieve the Development Milestone Events in a New Indication. Any Combination Product or Mono Product to achieve the Development Milestone Events in a New Indication after the first achievement of the Development Milestone Events as described in the foregoing sentence will cause the amounts in Column (b) with respect to a Combination Product and Column (d) with respect to a Mono Product to be due and payable by Coya upon each such occurrence. If the first Product to achieve a Development Milestone Event in any Indication is a Combination Product, the amounts in Column (a) below shall be due and payable by Coya. If the next Product to achieve a Development Milestone Event in a New Indication is a Mono Product, the amounts in Column (c) below would be due and payable by Coya; provided, that if such next Product to achieve a Development Milestone Event in a New Indication is a Combination Product, the amounts in Column (b) would be due and payable by Coya. By way of example, if a Combination Product achieves IND Acceptance in ALS, and is the first Product to achieve a Development Milestone Event under this Agreement, [***] will be due and payable by Coya. If subsequently a Mono Product achieves IND Acceptance in ALS, no Development Milestone Payments will be due and payable by Coya under this Agreement. However, if subsequently any Combination Product achieves IND Acceptance in Alzheimer’s disease, [***] would be due and payable by Coya.

  • Milestones Licensee agrees to use commercially reasonable efforts to meet the milestones as detailed in Schedule 3. In the event that Licensee does not use commercially reasonable efforts to meet any of the milestones, University may at its discretion elect to terminate the licence granted under Clause 2.1 with respect to the relevant Milestones of this Agreement pursuant to Paragraph 7 of Standard Terms and Conditions. No indulgence given by University on any particular occasion shall be deemed or construed as a waiver of its right to terminate this Agreement on future occasions.

  • Milestone Event Milestone Payment [***] [***]

  • Sales Milestone Payments Licensee shall notify MTI of any Calendar Year in which annual Net Sales of a Licensed Product in such Calendar Year in all countries in the Territory reach the following thresholds for the first time within [***] days after the end of such Calendar Year, and shall make the following sales milestone payments to MTI within [***] days after receiving an invoice from MTI therefor: Annual Net Sales Threshold Sales Milestone Payment [***] [***] [***] [***] [***] [***] Each sales milestone payment is separate and may only be earned once for each Licensed Product, irrespective of the number of times such thresholds are achieved for such Licensed Product, but if more than one Net Sales threshold is reached in the same Calendar Year, all corresponding sales milestone payments shall be payable during such Calendar Year. For example, if annual Net Sales of a Licensed Product first reach [***] dollars [***] in Calendar Year 1, [***] dollars [***] shall be payable to MTI for such Calendar Year 1, however, if annual Net Sales of a Licensed Product first reach [***] dollars ($500,000,000) in Calendar Year 2 [***] Portions of this exhibit have been redacted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Commission. (without first reaching [***] dollars [***] in Calendar Year 1), then both the [***] dollars [***] and the [***] dollars [***] sales milestone payments would be payable to MTI for such Calendar Year 2. Net Sales of the Co-Exploited Product in the United States, which are subject to profit and loss sharing pursuant to the Co-Exploitation Terms, shall be excluded from the annual Net Sales of such Co-Exploited Product for purposes of this Section 7.10.

  • Commercial Milestones In partial consideration of the rights granted by AstraZeneca to Licensee hereunder, Licensee shall pay to AstraZeneca the following payments, which shall be non-refundable, non-creditable and fully earned upon the first achievement of the applicable milestone event:

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