Milestone License Fee Sample Clauses

Milestone License Fee. On the first anniversary date of this Agreement, GBS paid to lDT, a non-refundable, non-creditable, license fee of ***** . GBS shall pay to IDT an additional non-refundable, non-creditable, license fee totaling *****, in ten (10) equal monthly installments of *********. Installment payments shall be made on the first day of each calendar month commencing December 1, 2012, and ending September 1, 2013. For the avoidance of doubt, the total amount of license fees GBS is obligated to pay pursuant to 3.2 is ********. The failure of GBS to timely pay installment payment described herein shall be cause for immediate termination of this Agreement by lDT. 2. Except as expressly stated above, the remainder of the Agreement shall remain unamended and in full force and effect, in accordance with its terms.
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Milestone License Fee. In partial consideration for the exclusive license granted pursuant to Section 2.1 hereof, and on or before sixteen (16) months following the Effective Date of this Agreement, or upon first product introduction, whichever sooner occurs, Licensee shall pay to Rensselaer a nonrefundable milestone license fee in the amount of Ten Thousand Dollars ($10,000.00). 2.3 Royalties.
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Milestone License Fee. GBS shall pay an additional non-refundable, non-creditable, license fee of ******** to IDT a upon any closing of a transaction which results in GBS receiving at least $2.5 million in cash or cash equivalents in exchange for GBS equity (stock), debt obligations, or other forms of consideration, other than the sale of GBS products which are sold at market prices (a “Funding Event”) that may occur after the execution of this agreement. If a Funding Event has not occurred by the first anniversary date of this Agreement, then GBS shall pay to IDT within then (10) business days of the first anniversary date, an additional non-refundable, non-creditable, license fee of ********. In such an event, GBS shall make a final additional non-refundable, non-creditable, license fee payment of ******** to IDT upon the earlier of (i) the 18 month anniversary date of this Agreement, or (ii) a Funding Event. For the avoidance of doubt, the total amount of license fees GBS is obligated to pay pursuant to 3.2 is ********, and the latest that the total licensee can be paid to IDT is eighteen months following the Effective Date. The failure of GBS to timely pay the license fees described in this 3.2, or any installment payment described herein shall be cause for immediate termination of this Agreement by IDT.
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Related to Milestone License Fee

  • Milestone Payment The first time Net Sales in the Territory in a Royalty Period exceed [***] [***]

  • Development Milestone Payments TriSalus shall pay (or cause to be paid) to Dynavax, in accordance with and subject to the terms of this Section 2.3, Section 2.4 and Section 6.4 (each such milestone, a “Development Milestone”, and each payment in respect thereof, a “Development Milestone Payment”): (i) Upon the successful completion by a Milestone Obligor after the Closing of a [**] study with respect to a Product using PEDD, a payment of [**] US Dollars ($[**]), with such Development Milestone Payment being payable only once (for purposes of the foregoing, successful completion means completion of such study in accordance with the plan for such study); (ii) For the first patient Dosed by a Milestone Obligor in each Phase 1 Clinical Trial for a Product for each Indication, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (iii) For the first patient Dosed by a Milestone Obligor in each Phase 2 Clinical Trial for a Product for each Indication, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (iv) For each Phase 2 Clinical Trial for a Product for each Indication conducted by or on behalf of a Milestone Obligor meeting the primary endpoint for such Phase 2 Clinical Trial based on full tables, figures and listings or continued development of such Product for the same Indication as such Phase 2 Clinical Trial, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (v) For each Phase 3 Clinical Trial for a Product for each Indication conducted by or on behalf of a Milestone Obligor meeting the primary endpoint for such Phase 3 Clinical Trial based on full tables, figures and listings or continued development of such Product for the same Indication as such Phase 3 Clinical Trial, a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products are in development by Milestone Obligor; (vi) Upon receipt by a Milestone Obligor of each Regulatory Approval for any Product for any Indication in the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; (vii) Upon receipt by a Milestone Obligor for each Regulatory Approval of any Product for any Indication in any country or region outside the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments, regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; (viii) Upon receipt by a Milestone Obligor for each Regulatory Approval for a Product with Orphan Drug Exclusivity for each Indication of a Product in the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments (which, for clarity, shall be payable in addition to the Development Milestone payable under Section 2.3(a)(vi) for receipt of such Regulatory Approval), regardless of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval; and (ix) Upon receipt by a Milestone Obligor for each Regulatory Approval for a Product with Orphan Drug Exclusivity for each Indication of a Product in any country or region outside the U.S., a payment of [**] US Dollars ($[**]), up to a maximum of [**] such payments (which, for clarity, shall be payable in addition to the Development Milestone payable under Section 2.3(a)(vii) for receipt of such Regulatory Approval), regardless ​ of how many Indications are pursued for a Product or how many Products achieve Regulatory Approval.

  • Milestone Fees Licensee will pay Milestone Fees indicated in Section 3.1(b) of the Patent & Technology License Agreement by the Quarterly Payment Deadline for the Contract Quarter in which the milestone events set forth in Section 3.1(b) of the Patent & Technology License Agreement are achieved.

  • Milestone A principal event specified in the Contract Documents including the Material Completion and Occupancy Date and other events relating to an intermediate completion date or time.

  • Milestone Payments (a) In partial consideration of the License, Company will pay to Penn the applicable milestone payment listed in the table below after the first achievement of each milestone event for each Licensed Product. Company will provide Penn with written notice within [**] days after achieving each milestone. Receipt of IND Approval for a Licensed Product $100,000 (Waived) Initiation of Phase II clinical trial for a Licensed Product $100,000 [**] [**] [**] [**] [**] [**] First calendar year in which Sales exceed $[**] [**] First calendar year in which Net Sales exceed $[**] [**] “Initiation” of a clinical trial means dosing the first patient in such trial in accordance with the trial protocol. For the sake of clarity, Milestone Events are cumulative. Achievement of a Milestone Event with respect to a Licensed Product triggers all prior milestones with respect to such Licensed Product unless previously triggered and paid. (b) Notwithstanding anything in Section 3.4(a) to the contrary, if development of a Licensed Product for a particular indication in the Field of Use ceases (a “Failed Product”), and development of a next Licensed Product for the same indication (“Follow-On Product”) subsequently commences or continues, then any of the Milestone Payments previously made by Company in connection with such Failed Product shall be fully creditable against the repeated achievement of such milestone event by such Follow-On Product to achieve such milestone event. In the event that Company files an IND before December 31, 2006, the Milestone Payment for Receipt of IND Approval will be waived by Penn. In the event that Company files an IND after December 31, 2006, but before July 1, 2007, the payment Milestone Payment for Receipt of IND Approval will be reduced to $[**]. In addition, any License Maintenance Fee paid within the same year that one or more Milestone Payments are due will be creditable toward any applicable Milestone Payment payable with respect to any Licensed Product in the Field of Use within a year after the date on which such License Maintenance Fee payment was due. (c) The Milestone Payments set forth in this Section 3.4 shall be payable upon achievement of the corresponding milestone event by Company or any of its Affiliates or sublicensees; provided that any such Milestone Payments payable based upon achievement of the corresponding milestone event by a third party sublicensee shall be subtracted from Sublicense Income for purposes of determining the Sublicense Fees payable to Penn pursuant to Section 3.8.