Specific Milestones Clause Samples
The 'Specific Milestones' clause defines particular tasks, deliverables, or achievements that must be completed by certain dates during the course of a project or contract. It typically outlines what constitutes each milestone, the deadlines for their completion, and may include criteria for acceptance or payment triggers tied to each milestone. This clause ensures that both parties have a clear, shared understanding of project progress expectations, helping to manage timelines, monitor performance, and reduce the risk of disputes over deliverables or deadlines.
Specific Milestones. Without limiting Section 4.1, Licensee will meet the following milestones:
(a) Closing of $**** in financing **** from Effective Date
(b) Milestones will be set forth in the initial Development Plan for the hemophilia A indication described in Section 1.11(a) and agreed upon by the Parties ****
(c) Milestones will be set forth in the initial Development Plan for the hemophilia B indication described in Section 1.11(b) and agreed upon by the Parties ****
(d) Filing of an investigational new drug application with the FDA for the proposed initial clinical trial of a Licensed Product targeting the first additional specific disease indication (as set forth in Section 1.11(c)) **** from the date on which the specific disease indication is added to the Field pursuant to Section 2.4
(e) Filing of an investigational new drug application with the FDA for the proposed initial clinical trial of a Licensed Product targeting the second additional specific disease indication (as set forth in Section 1.11(c)) **** from the date on which the specific disease indication is added to the Field pursuant to Section 2.4 Licensee will provide Licensor written notice within **** of the accomplishment of each of the foregoing milestones. For the avoidance of doubt, a breach of the milestone in (a) above will be deemed a breach with respect to all disease indications within the Field. If Licensee fails to meet a milestone for a particular disease indication within the Field, the date of the milestone (****) may, at Licensee’s option, be extended for a period of **** from the original deadline date upon a payment to Licensor of **** within **** of the original deadline date; provided that Licensee will be entitled only to **** for each disease indication within the Field, and each **** ****CERTAIN INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. will require a separate payment of ****. The Parties agree that the failure of Licensee to achieve a specific milestone contained in this Section 4.2 or in a Development Plan described in Section 4.3 for reasons beyond Licensee’s reasonable control **** will not be considered a material breach hereunder; ****.
Specific Milestones. Without limiting Section 4.1, Licensee will meet the following milestones for each Licensed Indication with respect to which a Commercial Option is exercised: Filing of an investigational new drug application with the FDA for the proposed initial clinical trial of a Licensed Product targeting the Licensed Indication […***…] from the Grant Date for the Licensed Indication Licensee will provide Licensor written notice within […***…] of the accomplishment of the foregoing milestone. If Licensee fails to meet the milestone for a particular Licensed Indication within the Field, the date of the milestone may, at Licensee’s option, be extended for a period of […***…] from the original deadline date upon a payment to Licensor of […***…] within […***…] of the original deadline date; provided that Licensee will be entitled only to […***…] for each Licensed Indication within the Field, and […***…] extension will require a separate payment of […***…]. […***…].
Specific Milestones. GSK shall make the following milestone payments to Theravance upon the achievement of the indicated Development Milestone for each of the first single agent Alliance Product and the first Combination Alliance Product per Alliance Program: Initiation of [*]* [*] Successful completion of [*]** (where [*] means [*] for a Validated Target and [*] for a Non-Validated Target, as such Validated/Non-Validated Targets will have been agreed by the Parties pursuant to Section 4.1.4). [*] Initiation of [*] [*] Filing for Regulatory Approval [*] [*] [*] [*] [*] [*] Launch [*] [*] [*] [*] [*] [*] * [*] milestone is only payable for Theravance Compounds from Discovery Programs for which GSK has given notice of its wish to exercise its Opt-In Right prior to initiation of a [*] for the first Theravance Compound in such Discovery Program. ** [*] milestone is only payable for Theravance Compounds from Discovery Programs for which GSK has given notice of its wish to exercise its Opt-In Right prior to initiation of a [*] for the first Theravance Compound in such Discovery Program. For the purpose of this Section 6.2, the following definitions shall apply: "Initiation of [*]" means [*] for the applicable Alliance Product "Successful completion of [*]" means [*] conducted in the target population for the applicable Alliance Product. "Initiation of [*]" means [*] for the applicable Alliance Product.
Specific Milestones. In addition to the efforts described in Section 4.1, Licensee shall meet the following specific milestones:
(a) File IND for a Licensed Product in the Territory within 12 months of the Effective Date; and
(b) Achieve First Commercial Sale of Licensed Products in the Field the Territory within 48 months of the Effective Date. Each of the events specified above will be referred to herein as a “Milestone Event”, and Licensee will use its Commercially Reasonable Efforts to achieve each of the Milestone Events prior to the time deadlines specified above. The efforts of Affiliates and Sublicensees shall be deemed efforts of Licensee for the purpose of determining Licensee’s compliance with this Section 4.2.
Specific Milestones. Without limiting Section 4.1, Licensee will meet the following milestones for each Licensed Indication with respect to which a Commercial Option is exercised: Filing of an investigational new drug application with the FDA for the proposed initial clinical trial of a Licensed Product targeting the Licensed Indication **** from the Grant Date for the Licensed Indication Licensee will provide Licensor written notice within **** of the accomplishment of the foregoing milestone. If Licensee fails to meet the milestone for a particular Licensed Indication within the Field, the date of the milestone may, at Licensee’s option, be extended for a period of **** from the original deadline date upon a payment to Licensor of **** within **** of the original deadline date; provided that Licensee will be entitled only to **** for each Licensed Indication within the Field, and **** extension will require a separate payment of ****. ****.
Specific Milestones. In addition to the Licensee’s obligations under clause 5.1, the Licensee shall use Diligent Efforts to achieve the following development milestone events by the following dates: Milestone Event Date by which event must be achieved [***] [***] [***] [***] [***] [***] [***] [***] [***] [***]
Specific Milestones. Without limiting Section 4.1, Licensee will meet the following milestones for each Licensed Indication with respect to which a Commercial Option is exercised: Filing of an investigational new drug application with the FDA for the proposed initial clinical trial of a Licensed Product targeting the Licensed Indication [***] from the Grant Date for the Licensed Indication Licensee will provide Licensor written notice within [***] of the accomplishment of the foregoing milestone. If Licensee fails to meet the milestone for a particular Licensed Indication within the Field, the date of the milestone may, at Licensee’s option, be extended for a period of [***] from the original deadline date upon a payment to Licensor of $[***] within [***] of the original deadline date; provided that Licensee will be entitled only to [***] for each Licensed Indication within the Field, and [***] extension will require a separate payment of $[***]. Notwithstanding the foregoing, for the Licensed Indication of W▇▇▇▇▇ Disease, for which Licensee exercised a Commercial Option under the Original Agreement with a Grant Date of August 3, 2015, and for which Licensee has previously extended the date of the milestone by [***], to [***], Licensee is entitled to a second extension of the date of the milestone for an additional period of [***] upon a payment to Licensor of $[***] within [***] days of [***] (“W▇▇▇▇▇ Extension”). If Licensee extends the date of the milestone for the Licensed Indication of W▇▇▇▇▇ Disease using the W▇▇▇▇▇ Extension, Licensee shall pay Licensor the following:
(a) an additional payment of $[***] upon the achievement of the foregoing milestone for the Licensed Indication of W▇▇▇▇▇ Disease; and
(b) an additional payment of $[***] for the first Licensed Product for the Licensed Indication of W▇▇▇▇▇ Disease to achieve NDA approval in the United States. For clarity, the milestone payment set forth in Section 4.2(b) is in addition to any milestone payments set forth in Section 3.3. [***].
Specific Milestones. 4.2.1. Without limiting Subsection 4.1, in order for Corteva to maintain the exclusive rights granted hereunder with respect to the applicable country, state or territory, the applicable milestone(s) below will have to be achieved by a Corteva Party within the applicable time period.
Specific Milestones