Development and Regulatory Milestone Event definition
Examples of Development and Regulatory Milestone Event in a sentence
Following the delivery of a Milestone Dispute Notice, Buyer and Seller shall first attempt in good faith to resolve by negotiation and consultation between themselves, any dispute as to whether any Development and Regulatory Milestone Event has occurred and whether any Development and Regulatory Milestone Payment is payable.
Buyer shall keep, and shall cause the Buyer Parties to keep, adequate books and records of accounting for the purpose of confirming whether a Development and Regulatory Milestone Event has occurred for a period of [**] following the end of the Calendar Year to which each pertains.
If the Seller believes that any Development and Regulatory Milestone Event has occurred and Buyer has not yet provided notice to Seller of the occurrence of such Development and Regulatory Milestone Event, then the Seller shall deliver to Buyer written notice thereof (a “Milestone Dispute Notice”), in reasonable detail, within [**] following the date upon which the Seller alleges the applicable Development and Regulatory Milestone Event occurred.