Event Milestone Payments. In consideration of the rights granted to PFIZER hereunder, in consideration of XXXXX’x investment in the Xxxxx Patent Rights and Xxxxx Technology, and subject to the terms and conditions of this Agreement, PFIZER shall make the following non-refundable payments described in this Section 5.1 to XXXXX with respect to the Licensed Products (collectively, the “Event Milestone Payments”). The payments described in Sections 5.1(a) and 5.1(b) are also non-creditable. All other Event Milestone Payments are creditable only to extent provided in Section 5.1(d)(ii) below:
(a) Fifty Million Dollars ($50,000,000), payable on the fifth (5th) Business Day following the Effective Date [*********] of this payment is paid in consideration for the license and development rights related to [*****************] of this payment is paid in consideration for the license and development rights related to [*******]; provided that PFIZER shall pay to XXXXX interest on such amount, in accordance with Section 6.4, for the period beginning on the Effective Date and ending on the date such payment is made at a rate equal to the seven (7) day U.S. dollar LIBOR rate effective for the Effective Date, as published by The Wall Street Journal;
(b) [******************************************], payable on the twentieth (20th) Business Day after [********** *********************** *********************************************************************] and
(c) [************************************] payable on the twentieth (20th) Business Day after [***************** ***************************** *********************************************************].
(d) In addition to the payments outlined in Sections 5.1(a) through (c), PFIZER shall pay to XXXXX the following amounts pursuant to this Section 5.1(d) solely with respect to any ProMune Product (collectively, the “Regulatory Event Milestone Payments”) upon satisfaction in full of the applicable events described under the column titled “Regulatory Events” (each a “Regulatory Event”) with respect to any Indication:
Event Milestone Payments. (a) Forest shall make the milestone payments, as specified below (each, a “Milestone Payment”), to Adamas, based on the achievement of the corresponding milestone event specified below (each, a “Milestone Event”). Forest shall notify Adamas in writing promptly after the achievement of such Milestone Event and, subject to Section 6.3(b), pay to [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.
Event Milestone Payments. Calithera shall make the non-refundable, non-creditable payments to HPP set forth below not later than thirty (30) days after the earliest date on which the corresponding milestone event set forth below is first achieved by a Licensed Product for a disease or condition in the Field:
(a) [***] $[***]
(b) [***] $[***]
(c) [***] $[***]
(d) [***] (i) $[***]
Event Milestone Payments. In consideration of the rights granted hereunder with respect to the Product, and subject to the terms and conditions of this Agreement, PFIZER shall pay to PSIVIDA CONFIDENTIAL TREATMENT REQUESTED the amount set forth in the table below opposite the corresponding event milestone (each an “Event Milestone”) within forty-five (45) days after the occurrence of such Event Milestone under this Agreement (each amount payable one time only): Event Milestone Event Milestone Payment Commencement of the first Phase III Clinical Trial for the Product $ [*] million First date of acceptance by FDA of the first NDA for the Product (the “FDA Filing Milestone”) $ [*] million Receipt of the first Regulatory Approval from the FDA for the Product (the “FDA First Indication Approval Milestone”) $ [*] million Receipt of the first Regulatory Approval from the FDA for the Product for the first indication that (a) is different from any indication included in the Regulatory Approval from the FDA with respect to which the FDA First Indication Approval Milestone became payable and (b) is not Glaucoma $ [*] million Receipt of the first Regulatory Approval and Price Approval, where applicable, for the Product in the first Major EU Country (the “EU First Indication Approval”) $ [*] million Receipt of the first Regulatory Approval and Price Approval, where applicable, for the Product in the first Major EU Country for the first indication that (a) is different from any indication included in the Regulatory Approval in the Major EU Country with respect to which the EU First Indication Approval Milestone became payable and (b) is not Glaucoma $ [*] million
Event Milestone Payments. In partial consideration for AGTC’s development of the [***] Manufacturing Technology and the grant of rights hereunder, LICENSEE shall pay AGTC the amounts set forth below within forty-five (45) days of the first occurrence of each event described below for the first Product with respect to each Selected Gene to achieve such event (each, an “Event Milestone Payment”). [***] Each of the Event Milestone Payments set forth above shall be payable one time only for each Selected Gene (regardless of the number of Products for such Selected Gene with respect to which, or the number of times with respect to any such Product, the specified event milestone occurs). No Event Milestone Payments shall be payable for any subsequent Product for the same Selected Gene regardless of the number of such Products developed. Notwithstanding anything to the contrary, if more than one Selected Gene is included in a single Product, each Event Milestone Payment shall be payable only once upon the first achievement by such Product of the applicable event milestone, provided that, if LICENSEE later uses any one of such Selected Genes in a separate Product, each Event Milestone Payment shall be payable again upon the first achievement by such separate Product of the applicable event milestone. For clarification, if one Product replaces another Product in development for a given Selected Gene, such replacement Product, as Confidential applicable, shall only be subject to Event Milestone Payments that have not previously been triggered by one or more prior Products for such Selected Gene, as applicable. If for any reason, with respect to a Selected Gene, (i) milestone 1 does not occur prior to the occurrence of any of the subsequent milestones (ii) milestone 2 does not occur before the occurrence of any of the subsequent milestones, (iii) milestone 3 does not occur before milestone 6, (iv) milestone 4 does not occur before milestone 7 or (v) milestone 5 does not occur before milestone 8, then upon achievement of the later event milestone, Event Milestone Payments shall be payable both for the event milestone achieved and any earlier event milestone that was bypassed.
Event Milestone Payments. Otsuka shall make non-refundable, non-creditable payments to MethylGene as set forth below not later than fifteen (15) Business Days after the earliest date on which the corresponding milestone event set forth below is achieved by Otsuka, its Affiliate or Sublicensee with respect to each Selected Compound or Licensed Product, as applicable: […***…] […***…] […***…][…***…][…***…][…***…][…***…] […***…][…***…][…***…][…***…][…***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…] […***…][…***…][…***…][…***…][…***…] […***…][…***…][…***…][…***…][…***…] […***…] […***…] […***…] […***…] Notwithstanding the foregoing, no milestone set forth above shall be paid a second time, although a second Selected Compound has achieved such milestone, until […***…]. Similarly, no milestone set forth above shall be paid with respect to a third Selected Compound to achieve said milestone until […***…], and so on with respect to each additional Selected Compound such that milestones will be payable on each Selected Compound only after each previous Selected Compound to have achieved the same milestone has also achieved […***…].
Event Milestone Payments. In consideration for Nucryst agreeing to grant S&N a license for the use in the manner specified in this Agreement of the Nucryst Technology and in addition to the royalty payments provided for in Section 6.1 and the sales milestone payments provided for in Section 6.5 of this Agreement, S&N shall pay to Nucryst Biomedical Inc., in the United States, the following milestone payments within [ * * * ] of the occurrence of the applicable event specified below:
6.4.1 three million dollars ($3,000,000) to be paid by T.X. Xxxxx & Nephew Limited upon receipt by S&N of notice of the granting of the first [ * * * ];
6.4.2 one million dollars ($1,000,000) to be paid by T.X. Xxxxx & Nephew Limited upon the 90 day anniversary of the first [ * * * ]. For clarification, only one such payment shall be made; and
6.4.3 [ * * * ] to be paid by Sxxxx & Nephew, Inc. upon receipt of the [ * * * ] and the commercial launch and offer for Sale of the Product that is the subject of the [ * * * ]. All event milestone payments made by S&N under this Section 6.4 are non-refundable to S&N.
Event Milestone Payments. (a) Subject to the terms and conditions of this Agreement, Chiesi shall pay to Protalix the amount set forth in the table below opposite the corresponding event milestone (each an “Event Milestone”) within thirty (30) days after the occurrence of such Event Milestone: [***] (“Event Milestone 1”) [***] [***] (“Event Milestone 2”) [***] [***] (“Event Milestone 3”) [***] [***] (“Event Milestone 4”) [***] Annual Net Sales of the Licensed Product in the Territory equal to or in excess of [***] (“Event Milestone 5”) [***] Annual Net Sales of the Licensed Product in the Territory equal to or in excess of [***] (“Event Milestone 6”) [***] Annual Net Sales of the Licensed Product in the Territory equal to or in excess of [***] (“Event Milestone 7”) [***] Annual Net Sales of the Licensed Product in the Territory equal to or in excess of [***] (“Event Milestone 8”) [***]
Event Milestone Payments. In partial consideration for AGTC’s development of the AGTC Technology and the grant of rights hereunder, Biogen shall pay AGTC the amounts set forth below within forty-five (45) days of the first occurrence of each event described below for each of the first XLRS Product and the first XLRP Product to achieve such event (each, an “Event Milestone Payment”).
Event Milestone Payments. (a) In consideration of the rights granted hereunder, and subject to the terms and conditions of this Agreement, Pfizer shall pay to Lpath the amount set forth in the table below opposite the corresponding Event Milestone (each an “Event Milestone Payment”) within forty-five (45) days after the occurrence of such Event Milestone, provided that the Event Milestone Payment payable in connection with the Execution Date shall be paid by Pfizer within twenty (20) days after the Execution Date: Execution Date $ 14 Million *** $ *** *** Clinical Study of a Licensed Product in the Field for a *** Clinical Study of a Licensed Product in the Field for *** has not occurred $ *** *** Clinical Study of a Licensed Product in the Field for *** Clinical Study of a Licensed Product in the Field for a *** $ *** If Pfizer *** Clinical Study of a Licensed Product in the Field for *** and then *** Clinical Study of a Licensed Product in the Field for *** occurs $ *** *** Portions of this page have been omitted pursuant to a request for Confidential Treatment filed separately with the Commission.
