Milestone Event. Milestone Payment
Milestone Event. The Milestone Event having occurred;
Milestone Event. “Milestone Event” means each event referred to in the Milestone Table under the heading “Milestone Event.”
Milestone Event. [***] For the avoidance of doubt, the Parties agree that all payments under this Section 6.2.2 are payable only once.
Milestone Event. Upon a Cyclacel Drug Candidate achieving first commercial Sale [***] for a Study Indication described in Study Work Order or Appendix I (this Milestone Payment will be paid up to four times); · Upon a Cyclacel Drug Candidate achieving first commercial Sale [***] for a Study Indication described in Study Work Order or Appendix I (this Milestone Payment will be paid up to four times); · Upon a Cyclacel Drug Candidate achieving first commercial Sale [***] for a Study Indication described in Study Work Order or Appendix I (this Milestone Payment will be paid up to four times); · Cumulative $[***] in Sales of either or all Cyclacel Drug Candidates for Study Indications described in Study Work Order or Appendix I; · Cumulative $[***] in Sales of either or all Cyclacel Drug Candidates for Study Indications described in Study Work Order or Appendix I; · Cumulative $[***] in Sales of either or all Cyclacel Drug Candidates for Study Indications described in Study Work Order or Appendix I.
Milestone Event. Payment Amount (in millions)
Milestone Event. The Transfer Payment shall be paid to SGI by MLFC, subject to satisfaction of the provisions of Section 13.3 below, upon the occurrence of the earlier to occur of either of the following (each, a "Milestone Event"):
(a) The commencement of construction or irrevocable commitment to proceed with construction of LFC Plants with a minimum of 15,000 tons per day in capacity;
(b) The receipt by MLFC of an aggregate of at least Four Million Dollars ($4,000,000) in connection with (i) the admission by MLFC and SGI of new equity participants into Newco or BizCo and (ii) the licensing or royalties from one or more LFC Plants (as such term is defined in the License Agreement) constructed by a third party or one of the parties hereto; or
(c) Such other event as all the parties hereto mutually agree to constitute a Milestone Event; provided that if and only if the Second Transfer has been completed, the license fees and royalty payments with respect to licensing the LFC Technology from LFC Plants involving MLFC or its Affiliate and constructed prior to the establishment of Newco or the transformation of the Company into BizCo (collectively, "Preferred LFC Technology Royalties") shall be distributed exclusively to SGI until SGI receives the aggregate amount of Six Million Five Hundred Thousand Dollars ($6,500,000) in Preferred LFC Technology Royalties. Any and all amounts of Preferred LFC Technology Royalties exceeding the aggregate amount of Six Million Five Hundred Thousand Dollars ($6,500,000) shall be distributed to SGI and MLFC in proportion to each party's respective Ownership Percentages. The amount of the Transfer Payment described in Section 13.1 above shall be reduced by one-half of the aggregate value of the Preferred LFC Technology Royalties received by SGI until all of the conditions as provided for in Section 13.3 below are satisfied. In no event shall SGI receive Preferred LFC Technology Royalties after the expiration or termination of this Agreement, in which case SGI shall not use any of the MLFC Technology without the prior written consent of MLFC.
Milestone Event. Subject to the remainder of this Section 5.1, Licensee shall pay to Licensor a one-time, non-refundable development milestone payment of Twenty Five Million Dollars ($25,000,000) upon the first MAA approval for a BION-1301 Licensed Product by the NMPA (the “BION-1301 Approval Milestone”). The BION-1301 Approval Milestone shall be due and payable (i) irrespective of whether such milestone event is achieved by Licensee, its Affiliates or sublicensee and (ii) only if the milestone event is achieved in mainland China. The BION-1301 Approval Milestone is payable only once, regardless of how many times such milestone event is achieved and/or the number of BION-1301 Licensed Products that achieve such milestone event.
Milestone Event. The Milestone Event and corresponding Milestone Payment and Equity Percentages are as follows: FDA IND Allowance for a Therapeutic Product $ 2,300,000 100 % Notes to Table: * All amounts in US dollars.
Milestone Event. [*]+ [*]+ [*] *+ * If [*] is [*] for the [*], but Portola decides [*] in [*] or [*], then the milestone shall be [*] the [*] for such [*] in the [*]. + Each milestone set forth above is intended to be paid only once. Additionally, each such amount shall become due upon the occurrence of the event specified, except as follows: For the purpose of this paragraph, [*], and [*], because each of such [*] the other [*] whether it is [*] or [*] that is [*]. If Portola first achieves any of [*] before achieving the [*], then upon either the next achievement of such milestone [*], whichever first occurs, the amount due upon achievement of the [*] shall become due. For example, if [*] for [*], and [*] for [*], then within [*] after [*] Portola shall pay to Millennium [*] and within [*] after [*] Portola shall pay to Millennium [*]. In no event shall Portola owe Millennium more than a total of $35 million pursuant to this Section 3.2.
