Product Development Milestones. Licensee agrees to pay and shall pay to TSRI the following non-creditable, non-refundable product development milestones within sixty (60) days of the end of the applicable quarter in which the first occurrence in the United States or Europe of each milestone for the first Licensed Product or first Licensed Process to meet such milestone as follows: Each such milestone shall be payable only once under the Agreement. In the event that any Licensed Product or Licensed Process would be subject to development milestones and payments under this Section 4.3 as well as under any Other License Agreements, then it is understood and agreed that such Licensed Product or Licensed Process shall be subject to only a single schedule of development milestones and payments under this Agreement and the Other License Agreements.
Product Development Milestones. Licensee agrees to pay and shall pay to CSMC the following non-creditable, non-refundable product development milestone payments within ninety (90) days of the first occurrence of the following milestones (or their equivalents): Successful completion of phase 2 of clinical trial $250,000 Successful completion of phase 3 of clinical trial $350,000 New drug application (NDA) approval by FDA in the United States or an equivalent agency in a major market outside of the United States $350,000 First commercial sale of a Product $1,000,000 Licensee's achievement of aggregated Net Sales of $75,000,000 $1,500,000
Product Development Milestones. Licensee agrees to pay and shall pay to CSMC the following non-creditable, non-refundable product development milestone payments within sixty (60) days of the first occurrence of the following milestones (or their equivalents): Successful completion of Phase I clinical trial for a Product $ 150,000 Successful completion of a Phase II clinical trial for a product and receipt of FDA or equivalent regulatory agency in another jurisdiction and approval for a Phase III clinical trial $ 250,000 Receipt of FDA approval of a New Drug Application (“NDA”) or Biologics License Applications (“BLA”) or equivalent foreign regulatory approval in a non-United States major commercial market $ 1,500,000 Cumulative Net Sales have exceeded $50,000,000 $ 2,500,000
Product Development Milestones. Licensee agrees to pay and shall pay to TSRI the following one time, non-creditable, non-refundable product development milestones within sixty (60) days of the first occurrence of each milestone for the first Licensed Product to meet such milestone as follows:
Product Development Milestones. Licensee agrees to pay and shall pay to CSMC the following non-creditable, non-refundable product development milestone payments within sixty (60) days of the first occurrence of the following milestones (or their equivalents):
Product Development Milestones. Licensee agrees to pay and shall pay to TSRI the following non-creditable, non-refundable product development milestones within thirty (30) days after the first Licensed Product has reached the milestone set forth below (or its equivalent), in the first Major Market Country in which such milestone is reached, as follows: * Confidential Information, indicated by [***], has been omitted from this filing and filed separately with the Securities and Exchange Commission Milestone Payment [***] $[***] [***] $[***] [***] $[***] [***] $[***] For the avoidance of doubt, Licensee shall pay each such milestone payment only once, regardless of how many times, and in how many Major Market Countries, Licensee reaches such milestone.
Product Development Milestones. Sorrento agrees to pay and shall pay to BGN the following one-time, non-creditable, non-refundable product development milestones (each, a “Product Development Milestone Payment”) within sixty (60) days of the end of the calendar quarter in which each milestone (or its equivalent) first occurs as follows: Milestone Payment (U.S. Dollar) Treating first patient in Phase II clinical trial $ 100,000 Treating first patient in Phase III clinical trial $ 500,000 First approval of a Licensed Product in a Major Country $ 1,000,000 For purposes of this Section 7:
Product Development Milestones. Licensee shall pay to TSRI the following [***] amounts for the achievement of the following product development milestone events [***] for each Licensed Product to meet such milestone as follows: [***] [***] For purposes of this Section 4.2, the following definitions shall apply:
(a) The term “Initiation” means, with respect to a clinical trial, the first dosing of the first patient in such trial.
Product Development Milestones. Licensee shall pay to Children’s milestone payments in the amount specified below upon every occurrence of each of the following milestone events for each Licensed Product anywhere in the Licensed Territory. IND Approval $ **** USD **** $ **** USD **** $ **** USD **** $ **** USD Initial of Phase 1 Clinical Trial $ **** USD Completion of a clinical trial demonstration human safety and clinical safety $ **** USD First USA approval of a Biologics License Application $ **** USD First EU approval of a Biologics License Application $ **** USD First Commercial Sale $ **** USD
Product Development Milestones. (payable for a first indication only):
(i) $100,000 for the dosing of a first patient in a first FDA-approved (or alternatively, foreign equivalent) Phase-I clinical trial,
(ii) $200,000 for the dosing of a first patient in a first FDA-approved (or alternatively, foreign equivalent) Phase-II clinical trial, and
(iii) $300,000 for the dosing of a first patient in a first FDA-approved (or alternatively, foreign equivalent) Phase-III clinical trial;
