Licensed Product Development Milestones Clause Samples
Licensed Product Development Milestones. Licensee agrees to pay and shall pay to TSRI the following non-creditable, non-refundable Licensed Product development milestones specified below within […***…] of the first achievement of each milestone event by each Licensed Product (and only for milestone events achieved by Licensee or its Affiliate, and not by a Sublicensee) as follows: Milestone Event Milestone Payment […***…] US$[…***…]% […***…] US$[…***…]% […***…] US$[…***…]% For clarification, each of the foregoing milestone payments shall be payable only one time for each Licensed Product that is or contains a particular chemical entity as an active ingredient, and only with respect to the first achievement of the applicable milestone by a Licensed Product comprising or containing that same chemical entity, regardless of the number of Licensed Products comprising or containing that same chemical entity that achieve such milestone.
Licensed Product Development Milestones. Verastem agrees to pay and shall pay (or cause its Affiliates or Sublicensees to pay) to Poniard the following one-time development and regulatory milestone payments within [**] days after the first achievement by Verastem, its Affiliates or its Sublicensees of each milestone event: The first dosing of the first patient in a Phase I Clinical Trial for a Licensed Product [**] U.S. Dollars (US $[**]) [**] [**] U.S. Dollars (US $[**]) [**] [**] U.S. Dollars (US $[**]) [**] [**] U.S. Dollars (US $[**]) [**] [**] U.S. Dollars (US $[**]) [**] [**] U.S. Dollars (US $[**]) [**] [**] U.S. Dollars (US $[**]) The total milestone payments payable to Poniard pursuant to this Section 4.2 for all Licensed Products worldwide shall not exceed Thirteen Million Two Hundred Fifty Thousand U.S. Dollars (US$13,250,000).