Examples of Milestone Obligor in a sentence
The Milestone Notice shall include Purchaser’s calculation of the amount of Annual Net Sales for the applicable measurement period and the corresponding Milestone Payment, including the gross amount invoiced for Products by Purchaser, its Affiliates or any other Milestone Obligor, and their respective or joint (sub)licensees, and the deductions from such gross amount taken in accordance with the definition of Net Sales.
Purchaser shall keep, and will cause each Milestone Obligor to keep, complete, true and accurate books and records in sufficient detail for Seller to determine Annual Net Sales.
If Parent wishes to transfer any Milestone Rights to a Milestone Obligor in a manner that does not comply with all of the terms of Section 1.13(h)(i)(1), Parent shall remain responsible for the performance of all obligations set forth in this Section 1.13, including any obligation assigned to and assumed by such Milestone Obligor, unless otherwise expressly agreed in writing by the Equityholders’ Representative on behalf of the Equityholders.
Parent shall notify the Stockholder Representative in writing of the achievement of each Milestone by Parent or any other Milestone Obligor within five (5) Business Days after the date of achievement of such Milestone (each, a “Milestone Notice”).
If Parent (directly or through any Milestone Obligor) ceases performance of activities required to achieve the Approval Milestone or ceases the development or commercialization of any Niclosamide Product, then Parent shall send prompt written notice thereof to the Stockholder Representative together with a detailed explanation for such cessation of activities.