Event Milestone Payments definition
Examples of Event Milestone Payments in a sentence
Following the payment by PFIZER to ▇▇▇▇▇ of Regulatory Event Milestone Payments for all ProMune Products that, in the aggregate, equal the Milestone Ceiling, PFIZER shall have no further payment obligations to ▇▇▇▇▇ under Section 5.1(d).
PFIZER shall pay to ▇▇▇▇▇ the applicable Regulatory Event Milestone Payments on or prior to the twentieth (20th) Business Day following the occurrence of the applicable Regulatory Event and will identify whether the ProMune Product for which the Regulatory Milestone Event Payment is due is a Product, Combination Product or Vaccine Product.
For the avoidance of doubt, the Milestone Ceiling amount is exclusive of (i) the Event Milestone Payments set forth in Sections 5.1(a), (b) and (c) (ii) the Research Milestone Payments set forth in Section 5.1 (e) and (iii) the Commercial Milestone Payment (as defined in Section 5.2 below).
In addition to the Event Milestone Payments for the Product, in consideration of the rights granted hereunder, and subject to the terms and conditions of this Agreement, PFIZER shall pay to PSIVIDA the following one-time payments within forty-five (45) days * Confidential information has been omitted and filed separately with the Securities and Exchange Commission pursuant to a confidential treatment request.
For the avoidance of doubt, clauses (i) and (ii) of the preceding sentence, the events described in items *** set forth in the foregoing table with respect to various Milestone Events associated with *** shall each be deemed separate Milestone Events, and the corresponding payments shall be deemed separate Event Milestone Payments.
No Event Milestone Payments shall be payable for any subsequent Product for the same Selected Gene regardless of the number of such Products developed.
In such case, Enzon shall remain liable for the Event Milestone Payments, royalties and other payments due under Article 4, however, Enzon may offset against such payment obligations any contract damages that are determined to be due to Enzon pursuant to Article 10.
In addition, Pfizer’s achievement of the Event Milestones relating to the *** as set forth in Section 6.1, entitling Lpath to receive the corresponding Event Milestone Payments, will be conclusive evidence that Pfizer has satisfied all diligence obligations under Section 5.8(a); *** Portions of this page have been omitted pursuant to a request for Confidential Treatment filed separately with the Commission.
Solely with regard to the “Receipt of Regulatory Approval for a Licensed Product” Milestone Event, Milestone Payments due under this listed Milestone Event in Section 4.1(f) and paid to UTMDACC during the one year period preceding an anniversary of the Effective Date may be credited against the running royalty due in that preceding year, following payment of the Milestone Payment, for Sales of the Licensed Product and in the country upon which the Milestone Payment became due and payable.
Event Milestone “M” means million *** *** *** *** *** Event Milestone “M” means million *** *** *** *** *** *** *** *** *** *** *** *** *** Event Milestone “M” means million *** *** *** TOTAL *** *The Event Milestone Payments in this column shall only apply if the Compound that Pfizer develops for any Pfizer Indication in the *** is ***.