Milestone Events and Milestone Payments pay to the University the non-refundable Milestone Payments on each Milestone Event. The Milestone Payment shall be due regardless of whether such Milestone Event is achieved as a result of the actions of the Company, its Affiliates and/or its Sub-Licencees.
Milestone Events and Milestone Payments. Upon the occurrence of any of the Milestone Events set forth in the immediately following table (the “Milestone Table”) under the heading “Milestone Event,” an amount equal to the aggregate Milestone Payment set forth opposite the description of such Milestone Event in the Milestone Table shall become payable to the Seller.
(i) Regulatory Milestone Events
(ii) Trial Milestone Event [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission Confidential treatment has been requested with respect to portions of this agreement.
Milestone Events and Milestone Payments. Subject to the terms and conditions of this Agreement, Buyer shall make each applicable payment (each a “Milestone Payment”) set forth below to the Seller promptly (and in any event no later than thirty (30) days) after the achievement by any member of the Buyer Rights Group of the relevant event listed below (each, a “Milestone Event”).
(i) A one-time payment of Three Million Dollars ($3,000,000) upon the achievement of the primary endpoint (as set forth in the protocol for such study) in any registrational study (i.e., a study that is intended to be used as a pivotal study for purposes of filing an NDA or BLA if such primary endpoint is satisfied) of any Product or the determination by the applicable member of the Buyer Rights Group to proceed with the preparation of an NDA or BLA based on the results of any such study whether or not such primary endpoint is achieved;
(ii) A one-time payment of [**] upon the acceptance for filing by the FDA or any other Governmental Entity of an NDA or BLA, with respect to any Product;
(iii) A one-time payment of [**] upon Regulatory Approval by the FDA of any Product for any indication in the United States;
(iv) A one-time payment of [**] upon the first occurrence of Pricing and Reimbursement Approval of any Product for any indication in any one of France, Germany, Italy, Spain or the United Kingdom;
(v) A one-time payment of [**] upon Regulatory Approval by the PMDA of any Product for any indication in Japan;
(vi) A one-time payment of [**] upon the cumulative Net Sales of all Products exceeding One Hundred Million Dollars ($100,000,000);
(vii) A one-time payment of [**] upon the cumulative Net Sales of all Products exceeding Two Hundred Million Dollars ($200,000,000); and
(viii) A one-time payment of [**] upon the cumulative Net Sales of all Products exceeding Three Hundred Million Dollars ($300,000,000).
Milestone Events and Milestone Payments. Subject to the terms and conditions of this Agreement, Buyer shall make each applicable payment (each a “Milestone Payment”) set forth in Section 1.11(a)(i), Section 1.11(a)(ii) or Section 1.11(a)(iii) to the Seller promptly (and in any event no later than [**]) after the achievement by any member of the Buyer Rights Group of the relevant event listed under Sections 1.11(a)(i), Section 1.11(a)(ii) or Section 1.11(a)(iii), respectively (each, a “Milestone Event”).
(i) A one-time payment of [**] Dollars ($[**]) upon the First Commercial Sale of any CFTR MRT Product in the United States or European Union;
(ii) With respect to each Non-CFTR MRT Product, a one-time payment of Ten Million Dollars ($10,000,000) upon the First Commercial Sale of such Non-CFTR MRT Product [**], provided, however, that the Milestone Payment in this Section 1.11(a)(ii) shall be due no more than once with respect to any two Non-CFTR MRT Products if all of the MRT Compound(s) in one of the Non-CFTR MRT Products are the same as all of the MRT Compound(s) in the other Non-CFTR MRT Product (it being understood that, for purposes of this Section 1.11(a)(ii), (A) any metabolite, prodrug, hydrate or other solvate, analog, ester, salt, intermediate, stereoisomer, racemate, tautomer or polymorph of any MRT Compound shall be considered the same MRT Compound and (B) any MRT Compound containing a different sequence than (e.g., an optimized sequence of) any other MRT Compound shall be considered a different MRT Compound from such other MRT Compound), regardless of whether such Non-CFTR MRT Products containing such MRT Compound(s) have different strengths, formulations, dosage forms or modes of administration or are marketed and sold for different Indications; and
(iii) A one-time payment of [**] Dollars ($[**]) upon the first achievement of the aggregate Annual Net Sales of any MRT Product equaling or being greater than [**] Dollars ($[**]) (it being understood that the Annual Net Sales of any two MRT Products may be aggregated to determine whether the Milestone Event in this Section 1.11(a)(iii) has been achieved only if all of the MRT Compound(s) in one of the MRT Products are the same as all of the MRT Compound(s) in the other MRT Product (it being understood that, for purposes of this Section 1.11(a)(iii), (A) any metabolite, prodrug, hydrate or other solvate, analog, ester, salt, intermediate, stereoisomer, racemate, tautomer or polymorph of any MRT Compound shall be considered the same MRT C...
Milestone Events and Milestone Payments. On a Project Target-by-Project Target basis, Lxxxx shall pay to ProQR certain milestone payments, as follows: (a) within [***] following any Compound Directed To a given Project Target achieving a discovery and development milestone event set forth in Table 8.2 below (each, a “Development Milestone Event”), Lxxxx shall pay to ProQR the corresponding Milestone Payment indicated in Table 8.2 (each such Milestone Payment, a “Development Milestone Payment”); and (b) within [***] following the end of the Calendar Quarter in which any commercial milestone event set forth in Table 8.2 (each, a “Commercial Milestone Event”) is achieved, Lilly shall pay to ProQR the corresponding Milestone Payment indicated in Table 8.2 (each such Milestone Payment, a “Commercial Milestone Payment”). The Development Milestone Events and Commercial Milestone Events may be referred to individually or collectively as “Milestone Events,” and Development Milestone Payments and Commercial Milestone Payments may be referred to individually or collectively as “Milestone Payments.” In the event that a given Development Milestone Event or Commercial Milestone Event is achieved in respect of a Project Target before payment by Lxxxx of all earlier Development Milestone Payments or Commercial Milestone Payments (as applicable) in respect of such Project Target, all such earlier payments shall also become due. In the event that First Commercial Sale is achieved in respect of a Project Target before payment by Lxxxx of all Development Milestone Payments in respect of such Project Target, all Development Milestone Payments shall also become due in respect of such Project Target.
Milestone Events and Milestone Payments. (a) Subject to the terms of this Agreement, on achievement by Licensee, Licensee will pay to Licensor the following lump sum milestone payments (“Milestone Payments”) on achievement of the following milestone events (Milestone Events) by the first Licensed Product only to achieve each Milestone Event: [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***]
(b) For each Milestone Event achieved by Licensee, Licensee will within [***] of achieving the Milestone Event, provide to Licensor a written statement of achieving the Milestone Event and, subject to the following, pay to Licensor the corresponding Milestone Payment.
(c) For the avoidance of doubt, each Milestone Payment is payable once only in respect of the first Licensed Product to first achieve the corresponding Milestone Event. No Milestone Payment is payable in respect of any subsequent achievement of the corresponding Milestone Event by any other Licensed Product, or by the Licensed Product that originally achieved the Milestone Event in respect of any other indication or use.
(d) [***].
Milestone Events and Milestone Payments. Infinity will pay to Intellikine the Milestone Payments shown below within thirty (30) days after Infinity becomes aware of achievement of such Milestone Event (or in the case of the achievement of Milestone Event in row 3, Column 3, upon the Effective Date). For purposes of clarity:
Milestone Events and Milestone Payments. Subject to the terms and conditions of this Agreement, Buyer shall make each applicable payment (each a “Milestone Payment”) set forth in Section 1.11(a)(i), Section 1.11(a)(ii) or Section 1.11(a)(iii) to the Seller promptly (and in any event no later than [**]) after the achievement by any member of the Buyer Rights Group of the relevant event listed under Sections 1.11(a)(i), Section 1.11(a)(ii) or Section 1.11(a)(iii), respectively (each, a “Milestone Event”).
Milestone Events and Milestone Payments. Subject to the terms and conditions of this Agreement, Buyer shall make each applicable payment (each a “Milestone Payment”) set forth below to the Sellers promptly (and in any event no later than forty-five (45) days) after the achievement by any member of the Buyer Rights Group of the relevant event listed below (each, a “Milestone Event”):
(i) a one-time payment of (***) upon First Commercial Sale of any Product for any indication in the United States;
(ii) a one-time payment of (***) upon the First Commercial Sale of any Product for any indication in any one of France, Germany, Italy, Spain or the United Kingdom;
(iii) a one-time payment of (***) upon the First Commercial Sale of any Product for any indication in any one of Japan or China;
(iv) a one-time payment of (***) upon the cumulative worldwide Net Sales of the Products exceeding (***);
(v) a one-time payment of (***) upon the cumulative worldwide Net Sales of the Products exceeding (***); and
(vi) a one-time payment of (***) upon the cumulative worldwide Net Sales of the Products exceeding (***).
Milestone Events and Milestone Payments. Infinity will pay to Intellikine the Milestone Payments shown below within thirty (30) days after Infinity becomes aware of the first achievement of the corresponding Milestone Event with respect to a Licensed Compound or Product to achieve such Milestone Event. For purposes of clarity, none of the Milestone Payments listed in this Exhibit 3 shall be payable more than once, and each shall be payable at the first achievement of a Milestone Event for a Licensed Compound or Product and shall not be payable again if subsequently another Licensed Compound or Product achieves the same Milestone Event.
