Commercial Event definition
Examples of Commercial Event in a sentence
If the Net Sales of all Products within the Territory in any Calendar Year reach any of the following levels within the time period specified for such level, Wyeth shall make the one-time payment indicated below for achievement of such Commercial Event (each, a “Commercial Payment”).
Dermelix will deliver written notice to Exicure within thirty (30) days after the end of the Calendar Year in which a Commercial Event Milestone occurs.
In the event any Development Event Payments (as described in Section 7.2) or Commercial Event Payments (as described in Section 6.3) are triggered by Roche Products achieving the associated development or commercial event, such payments shall be made to BioCryst as if such payments were due for a Licensed Product.
For avoidance of doubt, should Net Sales of Products first achieve any applicable Commercial Event in any Calendar Year ending after the applicable time period specified for achievement of such Commercial Event, under no circumstances shall any Commercial Payment be payable with respect to such achievement.
The development and commercial event payments under this Section 9.7 shall be paid ***, as follows: Development and Commercial Event The 1st Product to Reach Milestone Event (Standalone Initial Compound Product or Product containing a combination of an Initial Compound and an Option Compound) Million US$ Standalone Option Compound Product Million US$ Each milestone in the table shall be paid ***.