Common use of Milestone Events and Payments Clause in Contracts

Milestone Events and Payments. Upon the first achievement by Astellas (or its Related Party) of any milestone event set forth in any table in Section 4.2.1, 4.2.2, 4.2.3 or 4.2.4 (each, a “Milestone Event”), Astellas shall notify Ambit thereof in writing not later than ten (10) Business Days after such Milestone Event is achieved, and Astellas shall pay to Ambit the applicable non-refundable, non-creditable, one-time milestone payment within […***…] following the achievement of the Milestone Event. For the avoidance of doubt, following the achievement of any Milestone Event with respect to a particular Indication, if a second Product achieves the same Milestone Event for the same Indication, no additional milestone payment shall be payable with respect to such Milestone Event. Milestone payments for the achievement of Milestone Events with respect to the EU shall be payable following the achievement of the applicable Milestone Event in any Major EU Country or, in the case of a centralized EU filing or approval, with respect to the EMEA. ***Confidential Treatment Requested CONFIDENTIAL