Milestone Payments; Royalties Clause Samples
The 'Milestone Payments; Royalties' clause defines the financial obligations of one party to another based on the achievement of specific project milestones and the generation of revenue from licensed products or services. Typically, this clause outlines when milestone payments are due—such as upon regulatory approval or completion of development phases—and details the calculation and timing of royalty payments based on sales or usage. Its core function is to ensure that compensation is fairly distributed in alignment with progress and commercial success, thereby incentivizing performance and clarifying payment expectations.
Milestone Payments; Royalties. Following any termination of this Agreement in its entirety, Salix shall not be responsible for any (a) milestone payments for milestone events that are achieved under Sections 6.2 or 6.3 following the effective date of such termination or (b) any royalty payments that accrue under Section 6.5(a) following the effective date of such termination, in each case ((a) and (b)) unless and to the extent Salix, itself or through an Affiliate or Sublicensee, continues to sell Products pursuant to Section 10.7 or 10.8.
Milestone Payments; Royalties. Following any termination of this Agreement, ViroPharma shall not be responsible for (a) any milestone payments for milestone events that are achieved under Section 6.1.2 following the effective date of such termination or (b) any royalty payments that accrue under Section 6.2 following the effective date of such termination, except in each case ((a) and (b)) with respect to any sales of Licensed Products made by ViroPharma, either itself or through an Affiliate, Sublicensee or Sublicensee’s Affiliate, pursuant to Section 12.7.1.
Milestone Payments; Royalties. For the avoidance of doubt: if, as and when Ligand receives from Viking any milestone payments or royalties pursuant to the terms of the Transaction TR Beta Program License, such milestone payments or royalties shall constitute the receipt by Ligand of Proceeds in connection with a TR Beta Licensing Event, and the provisions of the Agreement shall apply thereto.
Milestone Payments; Royalties i. The charts set forth in Sections 6.2 and 6.3 of the Agreement are deleted in their entirety and are replaced with the charts set forth on Schedules 2.c-1 and 2.c-2. of this Amendment No. 2.
ii. The chart set forth in Section 6.5.1 of the Agreement is deleted in its entirety and is replaced with the chart set forth on Schedule 2.c-3 of this Amendment No.
Milestone Payments; Royalties