Commercialization Milestone Event definition
Examples of Commercialization Milestone Event in a sentence
Subject to the terms and conditions of this Agreement and the Channel Agreement, upon the first attainment of Commercialization Milestone Event (as defined in the Channel Agreement), the Company has agreed to make certain milestone payments (each a “Milestone Payment” and together “Milestone Payments”), at the Company’s option either in the form of shares of Company Common Stock (based upon the Fair Market Value of the shares).
Oragenics will pay Intrexon any amount due under this Section 5.2(c) within the later of (i) thirty (30) days from underlying Commercialization Milestone Event, or (ii) ten (10) days following the date stipulated in the underlying Product Sublicense for Oragenics to receive the milestone payment.
Jazz will notify Zymeworks in writing within [***] of the first achievement of any Commercialization Milestone Event [***].
Jazz will pay to Zymeworks the applicable Commercialization Milestone Payment no later than [***] after its receipt of such invoice (but in any event no later than [***] following such first achievement of such Commercialization Milestone Event).
In the event that more than one Commercialization Milestone Event is first achieved in a given Calendar Year, Jazz shall pay Zymeworks the Commercialization Milestone Payment associated with each such Commercialization Milestone Event achieved during such Calendar Year.
GSK shall notify Zymeworks in writing of the achievement of a Development Milestone Event or Commercialization Milestone Event within […***…] days of its achievement, and Zymeworks shall issue an Invoice to GSK for the corresponding Development Milestone Payment or Commercial Milestone Payment.
Within [***] after receipt of an invoice for the first achievement of each milestone event set forth in the table below (each, a “Commercialization Milestone Event”) with respect to the first Product Directed To each Collaboration Target to achieve such Commercialization Milestone Event, MKDG shall make the corresponding non-refundable, non-creditable milestone payment to C4T (each, a “Commercialization Milestone Payment”).
If more than one Commercialization Milestone Event is first achieved in a given Calendar Year with respect to a Product Directed To a particular Collaboration Target, MKDG shall pay C4T the Commercialization Milestone Payment associated with each such Commercialization Milestone Event for such Calendar Year.
For purposes of determining whether a Royalty threshold or a Commercialization Milestone Event described in Section 6.4.2 and 6.5.1 above has been attained, [***].
Each such report shall include, on a country-by-country and Licensed Product-by-Licensed Product basis, the total gross amount invoiced for Licensed Product sold, the Net Sales of each Licensed Product, and the Licensed Product royalties (in US dollars) payable and in total for all Licensed Products and the manner and basis for any currency conversion in accordance with Section 9.7, and shall specify if each Commercialization Milestone Event is achieved during such Calendar Quarter.