Ophthalmic Products. In conjunction with the Royalty Reports, NVS will notify HMI [***] after the end of each Calendar Quarter in which the date on which NVS’, its Affiliates’, and its Sublicensees’ cumulative Net Sales of all Ophthalmic Products for a Target in a given Calendar Year first reach the respective thresholds indicated below in Table 11.5.1 below (each, an “Ophthalmic Sales Milestone Event”). Upon receipt of such notice, HMI shall submit an invoice to NVS substantially in the form of Exhibit A for the corresponding one-time milestone payments set forth below in Table 11.5.1 (each, an “Ophthalmic Sales Milestone Payment”). NVS will pay to HMI the corresponding Ophthalmic Sales Milestone Payment no later than [***] after receipt of such invoice.
Appears in 4 contracts
Samples: Collaboration and License Agreement (Homology Medicines, Inc.), Collaboration and License Agreement (Homology Medicines, Inc.), Collaboration and License Agreement (Homology Medicines, Inc.)
