Net Sales Milestone Payments. (a) In the event that: (i) there are Net Sales of […***…] or greater in any […***…] occurring in […***…] (the “Quarterly Net Sales Milestone”), and (ii) the applicable “Annual Net Sales” dollar value set forth below is achieved during the Milestone Period (based on the Net Sales of the Product in any full calendar year) (each, an “Annual Net Sales Milestone” and, collectively, the “Annual Net Sales Milestones”), Purchaser shall, in each case, pay to Seller each of the one-time only, non-refundable, non-creditable net sales milestones (each, a “Net Sales Milestone Payment” and, collectively, the “Net Sales Milestone Payments”) in respect of the Acquired Assets as set forth below: Each Net Sales Milestone Payment shall be paid by wire transfer in immediately available funds to an account or accounts designated in writing by Seller; which payment shall be made no later than 45 days following the achievement of the Quarterly Net Sales Milestone or, for all other Net Sales Milestone Payments, following the end of the applicable calendar year; provided that more than one Net Sales Milestone Payment may become payable in the same calendar year as any other Net Sales Milestone Payment. Seller acknowledges the right to receive Net Sales Milestone Payments is not a security, shall not be represented by a certificate or other instrument and shall not represent a security or ownership interest in Purchaser, its Affiliates or any of their respective assets. Net Sales Milestones: Net Sales Milestone Payment: Achievement of Quarterly Net Sales Milestone […***…] Annual Net Sales […***…] […***…] […***…] […***…] […***…] […***…]
Net Sales Milestone Payments. In consideration of Hospira’s rights under this Agreement, Hospira shall pay to Pfenex:
(a) [***] in immediately available funds within sixty (60) days following the Quarterly Period in which Annual Net Sales of Product during the applicable Annual Period first exceed [***];
(b) [***] in immediately available funds within sixty (60) days following the Quarterly Period in which Annual Net Sales of Product during the applicable Annual Period first exceed [***];
(c) [***] in immediately available funds within sixty (60) days following the Quarterly Period in which Annual Net Sales of Product during the applicable Annual Period first exceed [***]; and
(d) [***] in immediately available funds within sixty (60) days following the Quarterly Period in which Annual Net Sales of Product during the applicable Annual Period first exceed [***]. For the avoidance of doubt, (i) each of the foregoing milestone payments set forth in clauses (a) through (d) shall only be paid once by Hospira, such that the maximum amount to be paid pursuant to this Section 4.3 shall be Two Hundred Sixty Million Dollars ($260,000,000) and (ii) if more than one milestone event in this Section 4.3 is achieved in a particular Quarterly Period, all corresponding milestone payments for such milestone events so achieved in such Quarterly Period shall be due.
Net Sales Milestone Payments. As further consideration of DRL’s transfer, sale, assignment, and conveyance of the Assigned Assets pursuant Section 5.1, Journey shall pay DRL within thirty (30) days following the end of an applicable Calendar Year, the highest “Milestone Payment” set forth in Table 7.5 out of all of the “Milestone Events” achieved by Journey (or its Affiliate, Sublicensee or Acquiror) in such Calendar Year. Within twelve (12) months following the payment of such Milestone Payment, Journey will pay to DRL (a) the next highest unpaid “Milestone Payment(s)” set forth in Table 7.5 for any “Milestone Event” previously achieved by Journey (or its Affiliate, Sublicensee, or Acquiror) or (b) if Journey achieves a Milestone Event associated with a higher Milestone Payment in a year following a previous Milestone Payment, Journey will only pay DRL the higher Milestone Payment. Once a Milestone Payment has been triggered under this Section 7.5, Journey is obligated to make payment on Milestone Events for all lower Milestone Payments than the highest achieved Milestone Payment until all Milestone Payments set forth in this Section 7.5 have been paid. Each Milestone Payment set forth in this Section 7.5 is payable only once (i.e., the first time the Milestone Event is achieved) and is nonrefundable once paid. For clarity, this means that the maximum amount payable under this Section 7.5 is [***] ($[***]). Journey shall notify DRL promptly following the date of the occurrence of each Milestone Event.
Net Sales Milestone Payments. Within […***…] of the end of the first calendar year in which each of the milestone events set forth in the table below is achieved, Equillium shall provide Biocon with written notice of such achievement and shall pay to Biocon the corresponding one-time, non-refundable, non-creditable milestone payment set forth below: First calendar year in which aggregate annual Net Sales of Products in the Equillium Territory exceed $[…***…] $[…***…] First calendar year in which aggregate annual Net Sales of Products in the Equillium Territory exceed $[…***…] $[…***…] First calendar year in which aggregate annual Net Sales of Products in the Equillium Territory exceed $[…***…] $[…***…] First calendar year in which aggregate annual Net Sales of Products in the Equillium Territory exceed $[…***…] $[…***…]
Net Sales Milestone Payments. On a Drug Discovery Program-by-Drug Discovery Program basis, for the first Calendar Year in which Annual worldwide Net Sales of the first Product progressed from a Drug Discovery Program that achieves or exceeds each of the levels of Annual worldwide Net Sales set forth in Table 3 below (each, a “Sales Milestone Event”), JBI will pay Isis the corresponding one-time Sales Milestone Event payment within [***] days of the end of the Calendar Quarter during such Calendar Year in which such Sales Milestone Event occurs. \ Each Sales Milestone Event payment set forth in Table 3 above will be due only one time per Drug Discovery Program, for the first Calendar Year in which the corresponding Sales Milestone Event occurs. If more than one of the above Sales Milestone Events is achieved in the same year, JBI will pay all applicable milestone payments.
Net Sales Milestone Payments. Within […***…] of the end of the first calendar year in which each of the milestone events set forth in the table below is achieved, Equillium shall provide Biocon with written notice of such achievement and shall pay to Biocon the corresponding one-time, non-refundable, non-creditable milestone payment set forth below: First calendar year in which aggregate annual Net Sales of Products in the Equillium Territory exceed $[…***…] $[…***…] First calendar year in which aggregate annual Net Sales of Products in the Equillium Territory exceed $[…***…] $[…***…] First calendar year in which aggregate annual Net Sales of Products in the Equillium Territory exceed $[…***…] $[…***…] First calendar year in which aggregate annual Net Sales of Products in the Equillium Territory exceed $[…***…] $[…***…] Each of the foregoing milestone payments shall be payable only one time, for the first achievement of the applicable milestone event. Notwithstanding the foregoing, if more than one of the foregoing milestone events is achieved in a single calendar year, Equillium shall pay all such milestone payments corresponding to the milestone events achieved within […***…] of the end of such calendar year.
Net Sales Milestone Payments. In General. All Net Sales milestones and the corresponding Net Sales milestone payments described in this Section 6.5 shall be available only one time under this Agreement for a given Collaboration Target. No milestone payments are owed for any milestone event that is not achieved.
Net Sales Milestone Payments. Licensee will pay the following one-time Net Sales milestone payments (the “Net Sales Milestones”) to Licensor when the aggregate Net Sales in the Territory in any Calendar Year first reach the specified amount listed in the “Net Sales Milestone Event” column in the table below. For the avoidance of doubt, the payments set forth in the column headed “Series A Product Payments” will be made upon the first achievement of the applicable Net Sales Milestone Event with respect to only a Series A Product and the payments set forth in the column headed “Series B Product Payments” will be made upon the first achievement of the applicable Net Sales Milestone Event with respect to only a Series B Product. Licensee will notify Licensor in writing within [***] days after the end of the Calendar Quarter in which the applicable Net Sales Milestone Event is achieved and payment shall accompany [***]. Each such payment shall be made in cash, in Dollars. [***] The Net Sales Milestone payments are payable only once with respect to Series A Products and only once with respect to Series B Products. The Net Sales Milestone payments shall not be refundable or creditable against any future payments by Licensee to Licensor under this Agreement. For clarity, this means that the total maximum amount of Net Sales Milestone payments payable assuming achievement of each Net Sales Milestone Event for (i) Series A Products is [***] and (ii) Series B Products is [***].
Net Sales Milestone Payments. Allergan shall notify Serenity promptly, but in no event later than *** days, after the first achievement of the relevant sales milestone for Products as set forth in the table in this Section 7.3, below. In consideration for the intellectual property rights assigned and licenses granted to Allergan by Serenity under Sections 2.1, 2.2, and 2.5, Allergan shall make the following one-time, nonrefundable, noncreditable milestone payments to Serenity within *** days after receipt of an invoice from Serenity therefor. *** ***
Net Sales Milestone Payments. Within [***] days of the end of the first Calendar Year in which each of the milestone events set forth in the table below is achieved by Jazz, its Affiliates or Sublicensees (each, a “Sales Milestone”), Jazz shall provide PharmaMar with written notice of such achievement and shall, subject to any credits available pursuant to Section 8.2 or Section 8.5, pay to PharmaMar the corresponding one-time, non-refundable milestone payment set forth below:
1. [***] [***]
2. [***] [***]
3. [***] [***]
4. [***] [***]
5. [***] [***] Each of the foregoing milestone payments (each, a “Sales Milestone Payment”) shall be payable only one time, for the first achievement of the applicable milestone event. The maximum total of all Sales Milestone Payments pursuant to this Section 8.5 is five hundred fifty million Dollars ($550,000,000). For clarity, if more than one Sale Milestone Event is achieved in the same Calendar Year, all Sale Milestone Payments corresponding to such Events achieved in such Calendar Year shall be paid by Jazz in aggregate.
