One Milestone Payment Clause Samples

One Milestone Payment. It is hereby acknowledged and agreed that any Milestone Payment shall be made only once, with respect to the first achievement of the relevant milestone for the first Licensed Product, regardless of how many times such milestones are achieved by Licensed Products and regardless of how many times a particular Licensed Product achieves such milestones. Notwithstanding the foregoing, for milestones 1, 2, 3, and 4 of Exhibit B, certain Development Milestone Payments would be payable one additional time for achieving such milestones with respect to any Second Licensed Product, and for the avoidance of doubt, the total Development Milestone Payments that could become payable for such milestones under this Agreement in any such event is * dollar ($*) in the aggregate. For purposes of this Agreement, a “Second Licensed Product” shall mean a Licensed Product using Licensor’s next generation mAb delivery platform that shows at least two-fold or higher PK of the API in any relevant preclinical animal model (rodent and/or large animal) compared to the first developed Licensed Product. The positive preclinical PK data will be discussed between the Parties the status of the Licensed Product as a Second Licensed Product will be mutually agreed by the Parties.