Milestone Event Payments Clause Samples

Milestone Event Payments. Ascletis shall provide written notice to 3-V within [***] days of the achievement of a Milestone Event. 3-V shall invoice Ascletis for the applicable Milestone Event payment, and Ascletis shall pay such Milestone Event payment within [***] days of receipt of invoice. For the avoidance of doubt, each of the Milestone Event payments shall become due and payable, if at all, only one time, upon the first occurrence of such an event.

Milestone Event Payments. Schering-Plough shall make the non-refundable payments to AVEO set forth below not later than thirty (30) days after the date on which the corresponding milestone event is first achieved: (a) [**] $[**] (b) [**] $[**] (c) [**] $[**] (d) [**] $[**] [**] $[**] (e) [**] $[**] (f) [**] $[**] (g) [**] $[**] (h) [**] $[**] (i) [**] $[**] (j) [**] $[**] (k) [**] $[**] (l) [**] $[**] (m) The milestone payments set forth in Sections 7.5(a), (b), (c), (d), (e) and (f) shall apply only to the first achievement of the applicable milestone event by the first Licensed Product to achieve such milestone. The milestone payments set forth in Sections 7.5(g), (h), (i), (j), (k) and (l) (the “Commercial Milestones”) shall be payable by Schering-Plough for up to, but not more than, a total of [**] and/or Other Indications in any combination; provided that the corresponding milestone payments for such Commercial Milestones shall be [**] percent ([**]%) of the amounts set forth in Sections 7.5(g), (h), (i), (j), (k) and (l) (as applicable) for each Indication approved after the first approved [**] and/or the first approved Other Indication (as the case may be). (n) If any milestone set forth in Section 7.5(a) (the “Preclinical Milestone”), Sections 7.5(b), (c), or (d) (the “Clinical Milestones”) or in Sections 7.5(e) or (f) (the “Regulatory Milestones”) is achieved with respect to a Licensed Product prior to the achievement of an earlier Preclinical Milestone, Clinical Milestone or Regulatory Milestone (as the case may be) for such Licensed Product, then all milestone payments due and payable for the earlier Preclinical Milestone or Clinical Milestone (as the case may be) shall be due and payable simultaneously with the payment for achievement of the later milestone event. In the event a Pivotal Trial is deemed to be a [**], then the milestone set forth in Section 7.5(d) shall only be due when the trial progresses to the [**]. In the event of acceptance of [**], and the receipt of [**], milestones paid for acceptance of the [**] shall only be made once for such Indication. For purposes of clarity, if, with respect to any Licensed Product for an Indication, Schering-Plough initiates a [**] and upon completion of such [**] Schering-Plough files for [**], and subsequently receives such accelerated [**], then (i) Schering-Plough shall be obligated to pay the milestone under Section 7.5(e) or (f) (as applicable) upon the filing for [**], if such milestone (e) or (f) has not previousl...

Milestone Event Payments. Initiation of the first Phase II Clinical Trial for the Product $ 5,000,000 (deleted text — the aggregate of the milestones redacted above amounts to US$180 million)

Milestone Event Payments. (a) If (i) the Buyer exercises the Additional Investment Opt-In Right in accordance with Section 2.3 and (ii) the FDA Milestone Event has not yet occurred, the Seller shall promptly (and in any event within [ * ] Business Days) notify the Buyer in writing upon the occurrence of the EMA Milestone Event. Upon receipt of such notice, if the Buyer has not yet funded the Maximum Additional Investment Payment Amount, the Buyer shall have the option, at the Buyer’s sole discretion, to pay, within [ * ] Business Days of receipt of such notice (the “Top-Up Deadline”), a one-time, lump-sum payment to the Seller in an amount equal to the difference between the Maximum Additional Investment Payment Amount and the aggregate Additional Investment Payment paid by the Buyer to the Seller as of such date (the “Top-Up Payment”). If the Buyer pays the Top-Up Payment to the Seller by the Top-Up Deadline, the Seller shall, within [ * ] Business Days after payment of the Top-Up Payment, pay the EMA Milestone Payment to the Buyer. If the Buyer does not pay the Top-Up Payment by the Top-Up Deadline, the Seller shall, within [ * ] Business Days after the Top-Up Deadline, pay the EMA Milestone Payment to the Buyer. If the Buyer had already funded the Maximum Additional Investment Payment Amount prior to the Buyer’s receipt of notice of the occurrence of the EMA Milestone Event, then the Seller shall, within [ * ] of the occurrence of the EMA Milestone Event, pay the EMA Milestone Payment to the Buyer. All payments made pursuant to this Section 5.12(a) shall be by wire transfer of immediately available funds to one or more accounts specified by party receiving such payment. For the avoidance of doubt, no EMA Milestone Payment shall be payable if (x) the Additional Investment Opt-In Right is not exercised in accordance with Section 2.3 or (y) the FDA Milestone Event occurs prior to the EMA Milestone Event. (b) If the Buyer exercises the Additional Investment Opt-In Right in accordance with Section 2.3, the Seller shall promptly (and in any event within [ * ] Business Days) notify the Buyer in writing upon the occurrence of the FDA Milestone Event. Upon receipt of such notice, if the Buyer has not yet funded the Maximum Additional Investment Payment Amount, the Buyer shall have the option, at the Buyer’s sole discretion, to pay the Top-Up Payment within the Top-Up Deadline. If the Buyer pays the Top-Up Payment to the Seller by the Top-Up Deadline, the Seller shall, within [ * ] Busine...