Milestone Payment 2 definition
Examples of Milestone Payment 2 in a sentence
If Research Regulatory Event (3) for a given Research Compound is achieved without triggering Research Compound Milestone Payment (2) for the same Research Compound, then PFIZER shall pay to ▇▇▇▇▇ both Research Compound Milestone Payments (2) and (3) on the date that Research Compound Milestone Payment (3) is due for such Research Compound.
By way of example, if all of the conditions set forth in this Section 9.3(c)(i)—(iv) are met and Zai makes a Regulatory Submission for the Lead Product in the PRC [*] after Regulatory Submission of the Lead Product in the U.S. (resulting in a total Reduction Amount of [*]), then [*] of the Reduction Amount shall first be applied to Milestone Payment 1 above, and the remaining [*] of the Reduction Amount shall then be applied to Milestone Payment 2 above.
Unless the Milestone Payment 2 has been earned and paid out to the Members previously, Parent covenants that the Achievement of Milestone 2 shall be determined by January 31, 2009 and written notice of such Achievement or non-Achievement of Milestone 2 shall be provided, with reasonable detail supporting such determination, to the Member Representative by January 31, 2009.
Collectively Milestone Payment 1, Milestone Payment 2, Milestone Payment 3, Milestones Payment 4 and Milestone Payment 5 are referred to herein as “Milestone Payments”.
In the event that Registration for the Product in the U.S. is denied by the FDA, whose decision shall be binding, after FDA's acceptance of the filing and payment by DUSA of Milestone Payment 2, PN shall, within [ * ] days of receipt of written notice from DUSA of such denial, refund to DUSA [ * ], as well as the costs of any additional preclinical or clinical trials undertaken by DUSA as set forth in Section 7.2, [ * ], up to a total of [ * ].
Notwithstanding the foregoing, Tempus may elect to withhold any of the Milestone Payment 2 installment(s) coming due after a failure by Personalis to satisfy the Commercial Launch Deadline for any Indication through no fault of Tempus; in such event, all such withheld Milestone Payment 2 installments shall come due upon Personalis’ subsequent achievement of the Commercial Launch Completion Date.
If a Party timely provides its notice of termination under this Section 12.7.2, then this Agreement shall terminate [*] from the date of the Party’s written notice of termination and, for the avoidance of doubt, Milestone Payment 2 shall be calculated and paid as set forth in Sections 3.1.6(a) and 3.1.7, and no Minimum Purchase Requirement or True-Up Payment obligations shall apply during such [*] period (but shall apply with respect to prior periods).
Development Milestone Event Milestone Payment 1 [*] [*] 2 [*] [*] 3 [*] [*] If, [*], then (i) Milestone Payment 2 set forth above will become payable [*], and (ii) Milestone Payment 3 set forth above will become payable upon [*].
Upon a Party giving notice of termination under this Section 12.6.1, this Agreement shall terminate [*] from the date of the notice of termination and, for the avoidance of doubt, Initial Milestone Payment 2 and Milestone Payment 2 shall not be made and no Minimum Purchase Requirement shall apply during such [*] period.
If a Party provides its notice of termination under this Section 12.8.2, then this Agreement shall terminate one (1) year from the date of the Party’s written notice of termination and, for the avoidance of doubt, Initial Milestone Payment 2 and Milestone Payment 2 shall not be adjusted or refunded and no Minimum Purchase Requirement or True-Up Payment obligations shall apply during such one (1) year period (but shall apply with respect to prior periods).