Common use of Upfront or Milestone Payments Clause in Contracts

Upfront or Milestone Payments. If any Independent Third ----------------------------- Party shall make upfront or milestone payments (e.g., for NDA filing, approvals, etc.) to Newco with respect to Products based upon proprietary Genes of such third party, then [*] of the Net Proceeds from such upfront or milestone payments shall be retained by Newco, and Newco shall pay to each of Elan and TGEN the remaining [*] of such Net Proceeds in proportion to their respective ownership interests in Newco.

Upfront or Milestone Payments. If any Independent Third ----------------------------- Party shall make upfront or milestone payments (e.g., for NDA filing, approvals, etc.) to Newco with respect to Products based upon proprietary Genes of such third partyNewco, then [*] of the Net Proceeds from such upfront or milestone payments shall be retained by Newco, and Newco shall pay to each of Elan * Confidential Treatment Requested and TGEN the remaining [*] of such Net Proceeds TGEN, in proportion to their respective ownership interests in Newco, royalties in the amount of the remaining [*] of such Net Proceeds.

Upfront or Milestone Payments. If any Independent Third Party ----------------------------- Party shall make upfront or milestone payments (e.g., for NDA filing, approvals, etc.) to Newco with respect to Products based upon proprietary Genes of such third partyNewco, then [*] of the Net Proceeds from such upfront or milestone payments shall be retained by Newco, and Newco shall pay to each of Elan and TGEN the remaining [*] of such Net Proceeds TGEN, in proportion to their respective ownership interests in Newco, royalties in the amount of the remaining [*] of such Net Proceeds.

Upfront or Milestone Payments. If any Independent Third ----------------------------- Party ---------- ------------------ shall make upfront or milestone payments (e.g., for NDA filing, approvals, etc.) to Newco with respect to Products based upon proprietary Genes of such third party, then [*] of the Net Proceeds from such upfront or milestone payments shall be retained by Newco, and Newco shall pay to each of Elan and TGEN the remaining [*] of such Net Proceeds in proportion to their respective ownership interests in Newco.