Milestone Event    Payment Sample Clauses

Milestone Event    Payment. Initiation of first Phase 1 Trial CHF [***] Initiation of first Phase 2 Trial CHF [***] Initiation of first Phase 3 Trial CHF [***] Approval of first NDA/BLA in first Major Market CHF [***] Each of the foregoing milestone payments shall be payable only one time per Therapeutic Product (regardless of the number of times any Therapeutic Product achieves such milestone or the number of indications for which such Therapeutic Product is developed).

Milestone Event    Payment. Earlier of (i) First Commercial Sale of the Covered Product in the NovaMedica Territory, and (ii) Completion* of a Clinical Study in the NovaMedica Territory for a New Product or Joint Product for the treatment of AMD. [***] Upon the first occurrence of [***] of Net Sales in the NovaMedica Territory during a Calendar Year [***] Upon the first occurrence of [***] of Net Sales in the NovaMedica Territory during a Calendar Year [***] For the avoidance of doubt, both Net Sales Milestone Payment shall become due and payable if both Milestone Events occur in the same Calendar Year.

Milestone Event    Payment. Upon both: (i) approval for a second Additional Indication or approval of an IV formulation of the Product, and (ii) annual Net Sales in the Territory reaching $380 million. $ [***]

Milestone Event    Payment. Dosing of first subject in first toxicity study in non- human primates $1,000,000 Dosing of first patient in a Phase I Clinical Trial $1,000,000 Dosing of first patient in Phase IIB Clinical Trial $ 200,000 Dosing of first patient in a Phase III Clinical Trial $ 800,000 First completion of a Phase III Clinical Trial with a positive clinical endpoint $1,000,000 First Regulatory Approval in the US $1,000,000 First Regulatory Approval in the European Union $1,000,000 First Regulatory Approval in Asia $1,000,000 First Commercial Sale in the Territory $1,000,000 The parties acknowledge that the issuance to ALSTDI of 555,555 shares of the Company’s non-voting common stock pursuant to that certain Non-Voting Common Stock Purchase Agreement dated on or about June 1, 2017 fully satisfies the Company’s obligation to make that certain Milestone Payment for the dosing of the first subject in the first toxicity study in non-human primates pursuant to Section Error! Reference source not found. of the Agreement. Each Milestone Event may be achieved only once and each Milestone Payment shall be due only once following upon the first achievement of the corresponding Milestone Event. For the avoidance of doubt, in no event shall Company be obligated to pay to ALSTDI Milestone Payments exceeding $7,000,000. The first five Milestone Events above (the “Clinical Trial Milestones”) are intended to be successive; if any of the Clinical Trial Milestones is reached without achieving a preceding Clinical Trial Milestone, then the amount which would have been payable on achievement of the preceding Clinical Trial Milestone shall be payable upon achievement of the next successive Clinical Trial Milestone. For purposes of the above Milestone Events, the “completion” of a pre-clinical or clinical study means the date of the last examination or intervention of the last research subject for the purpose of data collection for the primary endpoint in that trial. In the event that the Company develops a second Licensed Product for disease indications different than the first Licensed Product, Company shall notify ALSTDI within ten (10) days of the first achievement of any of the following milestones for the second Licensed Product by Company or any of its Sublicensees. At the time of such notification, Company shall pay to ALSTDI the following one-time Milestone Payments for the first occurrence of each milestone event for the second Licensed Product for a disease indication different than t...

Milestone Event    Payment. Payable for each Exclusive Indication; provided that, in the event that no Exclusive Indications have been elected, the following shall be payable for the first [***] non-exclusive indications. Under no circumstances shall Intrexon owe the following milestone payments for more than [***] indications.

Milestone Event    Payment. First Regulatory Approval in Japan Two Million Five Hundred Thousand Dollars ($2,500,000) First fiscal year of CoLucid in which aggregate Net Sales exceed [*] Ten Million Dollars ($10,000,000) Approval of each subsequent indication (may be paid more than one time for the Compound) One Million Dollars ($1,000,000) per indication per market (US, EU in Major Market, Japan) For the avoidance of doubt, CoLucid shall not be required to pay any milestone more than one time for the Compound, except as stated above. If any milestone event is achieved with respect to Compound and at such time any one or more of the milestone events previously listed for the country in which the milestone is achieved has not been achieved with respect to Compound, then at the time of the payment of the milestone payment for such achieved milestone event, CoLucid shall pay to Lilly the previously listed and unpaid payments for such unmet milestone events, up to and including filing of an NDA in the US or its equivalent in the EU in a Major Market or Japan. Subsequent milestone event payments will be paid within thirty (30) days by CoLucid to Lilly as such milestone events are achieved.

Milestone Event    Payment. Upon approval of the Product for an Initial Indication in the United Kingdom. $ [***]

Milestone Event    Payment. Filing of First NDA in US Three Million Dollars ($3,000,000) Filing of First NDA in EU in a Major Market One Million Five Hundred Thousand Dollars ($1,500,000) Filing of First NDA in Japan One Million Five Hundred Thousand Dollars ($1,500,000) First Regulatory Approval in US Eleven Million Dollars ($11,000,000) First Regulatory Approval in EU in a Major Market Two Million Five Hundred Thousand Dollars ($2,500,000) First Regulatory Approval in Japan Two Million Five Hundred Thousand Dollars ($2,500,000) First fiscal year of CoLucid in which aggregate Net Sales exceed [*] Ten Million Dollars ($10,000,000) Approval of each subsequent indication (may be paid more than one time for the Compound) One Million Dollars ($1,000,000) per indication per market (US, EU in Major Market, Japan) For the avoidance of doubt, CoLucid shall not be required to pay any milestone more than one time for the Compound, except as stated above. If any milestone event is achieved with respect to Compound and at such time any one or more of the milestone events previously listed for the country in which the milestone is achieved has not been achieved with respect to Compound, then at the time of the payment of the milestone payment for such achieved milestone event, CoLucid shall pay to Lilly the previously listed and unpaid payments for such unmet milestone events, up to and including filing of an NDA in the US or its equivalent in the EU in a Major Market or Japan. Subsequent milestone event payments will be paid within thirty (30) days by CoLucid to Lilly as such milestone events are achieved.

Milestone Event    Payment. Upon reaching $[***] in Net Sales in any Calendar Year $2,000,000