Common use of Sales-Based Milestones Clause in Contracts

Sales-Based Milestones. Xxxxxxx shall pay to PPD milestone payments in accordance with the schedule set forth below, based on total worldwide Net Sales of all Licensed Products for the first [*] consecutive Calendar Quarter-period during which such sales milestone event is achieved, such payment to be made within forty-five (45) days of receipt of an invoice from PPD after the achievement of such milestone event. Each of the milestone payments shall be payable only once regardless of the number of times Licensed Products achieve such sales milestone event. Xxxxxxx shall give PPD written notice of the occurrence of a sales milestone event described below within ten (10) business days thereof. [*] Confidential treatment requested; certain information omitted and filed separately with the SEC. Combined Worldwide Net Sales Milestone Payment in US Dollars First time that combined worldwide Net Sales of all Licensed Products in [*] consecutive Calendar Quarters equals or exceeds [*] dollars ($[*]) [*] dollars ($[*]) First time that combined worldwide Net Sales of all Licensed Products in [*] consecutive Calendar Quarters equals or exceeds [*] dollars ($[*]) [*] dollars ($[*]) The total amount payable under this Section 5.1(f)(ii) shall not exceed seventy-five million dollars ($75,000,000) in any event.

Sales-Based Milestones. Xxxxxxx PPD shall pay to PPD Xxxxxxx milestone payments in accordance with the schedule set forth below, based on total worldwide Net Sales of all Licensed Products for the first [*] consecutive Calendar Quarter-period during which such sales milestone event is achieved, such payment to be made within forty-five (45) days of receipt of an invoice from PPD after the achievement of such milestone event. Each of the milestone payments shall be payable only once once, regardless of the number of times Licensed Products achieve such sales milestone event. Xxxxxxx PPD shall give PPD Xxxxxxx written notice of the occurrence of a sales milestone event described below within ten (10) business days thereofof the occurrence of such milestone event. [*] Confidential treatment requested; certain information omitted and filed separately with the SEC. Annual Combined Worldwide Net Sales Milestone Payment in US Dollars First time that combined Combined worldwide Net Sales of all Licensed Products in [*] consecutive Calendar Quarters equals or exceeds [*] dollars ($[*]) [*] dollars ($[*]) First time that combined Combined worldwide Net Sales of all Licensed Products in [*] consecutive Calendar Quarters equals or exceeds [*] dollars ($[*]) [*] dollars ($[*]) The total amount payable under this Section 5.1(f)(ii5.2(e)(ii) shall not exceed seventy-five million dollars ($75,000,000) in any event.