Payment of Milestone Payments. If a Milestone has been achieved in accordance with this Agreement, Parent shall, promptly (but in any event no later than five (5) Business Days) following the delivery of the Milestone Notice, deposit with the Rights Agent, for payment to the Holders in accordance with Section 2.4, the Applicable Milestone Amount in cash.
Payment of Milestone Payments. Parent shall duly and promptly deposit with the Rights Agent for payment to each Holder the Milestone Payments, if any, in the manner provided for in Section 2.4 and in accordance with the terms of this Agreement.
Payment of Milestone Payments. Buyer shall pay Resistys the Milestone Payment in the amount, and within thirty (30) days of the occurrence, of the applicable Milestone Event.
Payment of Milestone Payments. If a Milestone has been achieved prior to the Termination, Parent shall, promptly (but in any event no later than ten (10) Business Days) following the delivery of the Milestone Notice, deposit with the Rights Agent, for payment to the Holders in accordance with Section 2.4 (not including amounts payable in respect of Equity Award CVRs), the aggregate amount necessary to pay the applicable Milestone Payment Amount to all Holders. Notwithstanding any other provision in this Agreement, the applicable Milestone Amount shall only be paid, one time, if at all, subject to the achievement of the applicable Milestone prior to the Termination, and the maximum aggregate potential amount payable under this Agreement shall be (a) $15,000,000 with respect to Milestone 1 if Milestone 1 is achieved by or before June 30, 2026, (b)(i) $30,000,000 with respect to Milestone 2 if Milestone 2 is achieved by or before December 31, 2024, (ii) $20,000,000 with respect to Milestone 2 if Milestone 2 is achieved between January 1, 2025 and June 30, 2025, and (iii) $10,000,000 with respect to Milestone 2 if Milestone 2 is achieved on or after July 1, 2025, (c) $35,000,000 with respect to Milestone 3, (d) $15,000,000 with respect to Milestone 4, (e) $15,000,000 with respect to Milestone 5, and (f) $30,000,000 with respect to Milestone 6. If a Milestone has not been achieved prior to the Termination, then Parent and the Company will not be required to make any payment to the Rights Agent or the Holders pursuant to this Agreement in respect of such Milestone.
Payment of Milestone Payments. With respect to each of the following milestones (each a “Milestone”) that is achieved in accordance with the terms and limitations applicable to such Milestone, the Parent will duly deposit or cause to be deposited with the Rights Agent, the applicable milestone payment (each a “Milestone Payment”) on or prior to the date upon which such Milestone Payment is due, as set out below (each a “Milestone Payment Date”), to be made to the Holders in accordance with the terms of this CVR Agreement:
(a) Annual Net Sales Milestones:
Payment of Milestone Payments. On each Milestone Payment Date for which a Milestone Payment is payable, Parent shall deposit with the Rights Agent, for payment to the Holders in accordance with Section 2.4, the aggregate amount necessary to pay the applicable Milestone Payment to all Holders.
Payment of Milestone Payments. (i) Each Development/Regulatory Milestone payment shall be due and payable to Zealand Pharma within thirty (30) Business Days after receipt of a written Invoice from Zealand Pharma, which shall be provided to BI as soon as practicable after BI notifies Zealand Pharma that the particular milestone has been achieved (whether achieved by or on behalf of BI or any of its Affiliates or Sublicensees). BI will notify Zealand Pharma within twenty (20) Business Days after the achievement of any milestone event for which a payment to Zealand Pharma is required under Section 12.4, and Zealand Pharma shall send to BI an Invoice for the corresponding milestone payment.
(ii) BI shall pay the Sales Performance Milestone payments pursuant to Section 12.4.3 above within sixty (60) days of the end of the respective Calendar Year and receipt of a corresponding Invoice from Zealand Pharma.
Payment of Milestone Payments. If a Milestone has been achieved in accordance with this Agreement, Purchaser shall, promptly (but in any event no later than ten (10) Business Days) following the delivery of a Milestone Notice, deposit with the Rights Agent, for payment to the Holders in accordance with Section 2.4, the aggregate amount necessary to pay the applicable Milestone Payment to all Holders (other than holders entitled to certain Covered Milestone Payments as set forth in Section 2.4).
Payment of Milestone Payments. Novartis shall pay to the Company an amount equal to the Milestone Payment no later than sixty (60) days after receipt of an Invoice therefor, which Invoice shall be issued by the Company no earlier than the receipt by the Company of the notice sent by Novartis relating to the achievement of the applicable Milestone.
Payment of Milestone Payments. Parent shall use, and shall cause the Surviving Corporation and their respective affiliates to use, their commercially reasonable efforts to develop and commercialize each Milestone Product and not to take any action primarily designed to avoid payment of any Milestone Payment. Parent shall cause each Milestone Payment to be distributed to the Paying Agent for distribution to the Company Securityholders within seven (7) Business Days following a Milestone Notice Date relating thereto; provided, that any such Milestone Payment shall be net of any expenses of the Paying Agent incurred or reasonably expected to be incurred (as estimated in good faith by the Paying Agent) by Parent with respect thereto. Notwithstanding the foregoing:
(i) [***];
(ii) for purposes of clause “(i)” of this sentence, in the event any payment or portion of a payment to Parent or any of its Affiliates is [***];
(iii) for purposes of clause “(i)” of this sentence, in the event any payment or portion of a payment to Parent or any of its Affiliates is [***]; and *** CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION
(iv) for purposes of clause “(i)” of this sentence, in the event any payment or portion of a payment to Parent or any of its Affiliates is [***].
