Product Milestone Payments. In consideration of Hospira’s rights under this Agreement, Hospira shall pay to Pfenex:
(a) [***] in immediately available funds within thirty (30) days following [***];
(b) [***] in immediately available funds within thirty (30) days following [***];
(c) [***] in immediately available funds within thirty (30) days following [***]; and
(d) [***] in immediately available funds within thirty (30) days following [***]. For the avoidance of doubt, 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 4.2 shall be Thirty One Million Dollars ($31,000,000). For clarity, if the Regulatory Approval Milestone Event is achieved and any Previous Milestone Event(s) for Product has not yet been achieved for any reason, notwithstanding anything herein to the contrary, such Previous Milestone Event(s) shall be deemed to have been achieved and the corresponding milestone payment set forth above shall be payable simultaneous with the milestone payment for the achievement of the Regulatory Approval Milestone Event. For purposes of the foregoing, each milestone event in this Section 4.2(a) through (c) shall be deemed a “Previous Milestone Event”. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
Product Milestone Payments. Strata shall pay to Micrologix, as licensing fees, the following non-refundable milestone payments as follows:
(a) for milestones referred to in Section 4.3 and Section 4.4,
(i) if Strata can make the payment respecting such milestone within 45 days of the date on which Strata receives a copy of the applicable letter or notice from the FDA in the U.S. or from a foreign equivalent in the Territory, Strata shall pay to Micrologix such milestone within [***] of achieving such milestone;
(ii) if Strata cannot make the payment respecting such milestone within [***] of the date on which Strata receives a copy of the applicable letter or notice from the FDA in the U.S. or from a foreign equivalent in the Territory, Strata shall:
(A) within [***] of achieving such milestone, notify Micrologix in writing that it cannot make the payment respecting such milestone; and
(B) provided that Micrologix receives such notice within the period for the receipt of same, Strata shall pay to Micrologix such milestone within [***] of achieving such milestone, [***].
(b) for milestones referred to in Section 4.5, [***] after Strata receives a copy of the applicable letter or notice from the FDA in the U.S. or from a foreign equivalent in the Territory.
Product Milestone Payments. Gilead will pay to Anadys development and commercialization milestone payments as set forth in this Section 5(d) within thirty (30) days after the first achievement of the corresponding research milestone for a Licensed Product, pursuant to an invoice from Anadys. No milestone payment shall be payable more than once, no matter how many times achieved with respect to a Licensed Compound or a Licensed Product. Such milestone payments shall be nonrefundable. For clarity, earlier milestones may be first achieved with one Licensed Product, while subsequent milestones may be first achieved with a different Licensed Product, in which case, the milestone payment corresponding to each milestone event shall be payable only once, when first achieved by any Licensed Product. ***CONFIDENTIAL TREATMENT REQUESTED MILESTONE EVENT MILESTONE PAYMENT AMOUNT ---------------------------------------------------------------------- ------------------------ 1. Start of Phase I Clinical Trials for the Indication with a $[...***...] Licensed Product
Product Milestone Payments. With respect to each of the first [***] Licensed Products to reach each Milestone Event set forth in Table 4.3.1, regardless of whether such milestone is achieved by Licensee or any Affiliate or Sublicensee of Licensee, Licensee shall pay Harvard the milestone payments (a) set forth in Column (A) of Table 4.3.1 below prior to a Change of Control of Licensee and (b) set forth in Column (B) of Table 4.3.1 below following the consummation of a Change of Control of Licensee. [***]
Product Milestone Payments. Fujisawa shall pay to Cardiome, as licensing fees, the following milestone payments:
Product Milestone Payments. Schering shall pay the following amounts within thirty (30) days after the first occurrence of each of the following Product-related milestones:
(i) Product Launch in the United States following NDA Approval for a metastatic breast cancer (“MBC”) Indication with a Superior Efficacy Label [*]
(ii) Product Launch in the United States following NDA Approval for a MBC Indication without a Superior Efficacy Label [*]
(iii) Product Launch in the EU following EU Approval for a MBC Indication with a Superior Efficacy Label [*]
(iv) Product Launch in the EU following EU Approval for a MBC Indication without a Superior Efficacy Label [*]
(v) Product Launch in Japan following MHWL Approval for a MBC Indication with a Superior Efficacy Label [*]
(vi) Product Launch in Japan following MHWL Approval for a MBC Indication without a Superior Efficacy Label [*] [*] CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE COMMISSION
(vii) First dosing of a patient in a Phase 3 Clinical Trial to support NDA Approval for second Indication [*]
(viii) Acceptance for filing by the FDA of an NDA for second Indication [*]
(ix) Product Launch in the United States following NDA Approval for second Indication with a Superior Efficacy Label [*]
(x) Product Launch in the United States following NDA Approval for second Indication without a Superior Efficacy Label [*]
(xi) Product Launch in the EU following EU Approval for second Indication with a Superior Efficacy Label [*]
(xii) Product Launch in the EU following EU Approval for second Indication without a Superior Efficacy Label [*]
(xiii) Product Launch in Japan following MHWL Approval for second Indication with a Superior Efficacy Label [*]
(xiv) Product Launch in Japan following MHWL Approval for second Indication without a Superior Efficacy Label [*] In no event shall any milestone payment be paid more than once. Except for milestone payments expressly stated to be made for a second Indication in this Section 3.01(b), payments will be made only for the first Indication for which the Product is developed regardless of the number of Indications for which the Product is developed. Each set of two milestones listed at (i) and (ii), (iii) and (iv), (v) and (vi), (ix) and (x), (xi) and (xii) and (xiii) and (xiv) respectively are alternative and not cumulative milestones and only one of each set of milestone payments is payable, provided however, that if, in the case of each set of two milestones: (I) the second milestone (namely the m...
Product Milestone Payments. Fujisawa shall pay to Cardiome, as licensing fees, the following milestone payments within fifteen (15) days after the occurrence or achievement of the event described below in the Territory:
(a) Six Million Dollars ($6,000,000) upon the Successful Completion of the First Phase III Study;
(b) Ten Million Dollars ($10,000,000) upon an NDA Submission for the Product for use in the Indication in the Field;
Product Milestone Payments. As additional consideration for the grants of rights and licenses under the Arrow Technology to Sepracor in this Agreement and to further incentivize and secure Arrow's efforts to Develop successfully the Product, Sepracor shall pay a one-time milestone payment to Arrow in the amount of $20,000,000 (the "Product Milestone Payment") upon the FDA's issuance of Regulatory Approval for the Product in the United States (the "Product Milestone"). Such payment shall be made within [**] of the achievement or occurrence of such milestone event.
Product Milestone Payments. Licensee shall pay Harvard the following milestone payments with respect to each of the first [**] Licensed Products to reach each milestone, regardless of whether such milestone is achieved by Licensee or any Affiliate or Sublicensee of Licensee, and subject to Section 4.3.4: [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] Upon the consummation (i.e., closing) of a Change of Control of Licensee at any time during the Term, the dollar amounts set forth in the table above under “Milestone Payments (U.S. Dollars)” shall be deleted and the milestone payments set forth in the table below shall be substituted for the corresponding milestone payments for occurrences of a milestone event after the consummation of Change of Control. This shall not change the number of times that each of the milestone payments may become due — each milestone payment can become due hereunder a maximum of [**] times only, whether at the lower level of the table above or at the higher level of the table below as applicable at the time of milestone achievement. In addition, it is understood that the increased milestone amounts shall only apply on a going-forward basis from the time of a Change of Control; no increase to the amounts of the milestone payments due for milestone events achieved prior to the Change of Control shall be due. [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**]
Product Milestone Payments. Fujisawa shall pay to Atrix, as licensing fees, the following non-refundable milestone payments within 15 calendar days after Fujisawa receives (i) notice from Atrix of the occurrence of the specified milestone event with respect to a Product and (ii) a copy of the applicable letter or notice received by Atrix from the FDA: []**
