Product Sales Milestone Payment definition

Product Sales Milestone Payment means (a) one dollar and fifty cents ($1.50) per CVR with respect to achieving Product Sales Milestone #1 and (b) one dollar and fifty cents ($1.50) per CVR with respect to achieving Product Sales Milestone #2.
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Product Sales Milestone Payment means (a) two dollars ($2.00) per CVR, with respect to achieving Product Sales Milestone #1; (b) three dollars ($3.00) per CVR, with respect to achieving Product Sales Milestone #2, provided that if the Approval Milestone Payment has not been made prior to achieving Product Sales Milestone #2, this amount shall be four dollars ($4.00) per CVR, but, for the avoidance of doubt, in such event the Approval Milestone Payment shall not also be payable; (c) four dollars ($4.00) per CVR, with respect to achieving Product Sales Milestone #3; and (d) three dollars ($3.00) per CVR, with respect to achieving Product Sales Milestone #4.
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Examples of Product Sales Milestone Payment in a sentence

  • The initiation of a review by the Acting Holders as contemplated by this SECTION 7.6 shall not relieve the Company of its obligation to pay any Product Sales Milestone Payment relating to any Product Sales Milestone for which notice of achievement has been given in a Product Sales Statement, it being understood that the Company shall also be obligated to pay the full amount of the CVR Shortfall, if any, determined in accordance with SECTION 7.6(b).

  • Notwithstanding the foregoing, in no event shall the Company be required to pay a Product Sales Milestone Payment more than once in relation to any particular Product Sales Milestone, and the Company shall not be required to pay any Product Sales Milestone Payment in relation to a Product Sales Milestone that is achieved after the Termination Date.

  • Notwithstanding the foregoing, in no event shall the Company be required to pay a Product Sales Milestone Payment more than once in relation to any particular Product Sales Milestone, and the Company shall not be required to pay any Product Sales Payment in relation to a Product Sales Milestone occurring after the Termination Date.

  • Each Product Sales Milestone Payment shall only be payable once for the Product for all products that fall within the definition of such Product taken together (e.g., all formulations and dosages), and shall be calculated on a worldwide basis for all jurisdictions within the Territory, and shall be payable upon the first occurrence of the applicable Product Sales Milestone.

  • For clarity, the occurrence of a Product Sales Milestone for exceeding a particular Net Sales threshold shall also mean the occurrence of each Product Sales Milestone having a lower Net Sales threshold, and each such Product Sales Milestone Payment shall be separately due and payable (to the extent not previously paid).

  • The initiation of a review by the Acting Holders as contemplated by this Section 7.6 shall not relieve the Company of its obligation to pay any Product Sales Milestone Payment relating to any Product Sales Milestone for which notice of achievement has been given in a Product Sales Statement, it being understood that the Company shall also be obligated to pay the full amount of the CVR Shortfall, if any, determined in accordance with Section 7.6(b).

  • Each such one-time (per Licensed Product) Sales Milestone Payment will be due and payable to PeptiDream within [***] after the last day of the Milestone Period in which the applicable Sales Milestone Event has been achieved.

  • Completed assessment on 19 of the 33 water treatment plants to determine required upgrading or replacement; one is underway and seven are planned.

  • The ISA-99 standard also encourages synergy between OT and IT personnel in the management of enterprise-wide cybersecurity.Asset management practice guided by ISO-55000 (Formerly, PAS 55) is well-established in the OT domain with ERP systems in place to handle workflows and data storage.

  • The Rights Agent shall pay the CVR Shortfall to the CVR Holders of record as of a date that is three (3) Business Days prior to the date on which the Product Sales Milestone Payment is made to the Rights Agent.

Related to Product Sales Milestone Payment

  • Sales Milestone Payment shall have the meaning set forth in Section 8.4.

  • Milestone Payment has the meaning set forth in Section 4.2.

  • Development Milestone Payment shall have the meaning set forth in Section 9.2(a).

  • Milestone means an event or task described in the Implementation Plan which must be completed by the corresponding date set out in such plan;

  • Milestone Payments means payments made in connection with any Permitted Acquisition or other acquisition (including any license or the acquisition of any license) of any rights in respect of any drug or other pharmaceutical product (and any related property or assets) to sellers (or licensors) of the assets or Equity Interests acquired (or licensed) therein based on the achievement of specified revenue, profit or other performance targets (financial or otherwise).

  • Milestone Payment Date has the meaning set forth in Section 2.4(a).

  • Development Milestone is defined in Section 5.3.

  • Milestone 2 means achievement of annual Net Sales of at least $35,000,000 during any Calendar Year ending on or before December 31, 2024.

  • Development Milestone Event has the meaning set forth in Section 7.2.1.

  • Milestone 1 means achievement of annual Net Sales of at least $20,000,000 during the Calendar Year ending on December 31, 2021.

  • Milestone Event has the meaning set forth in Section 8.2.1.

  • Milestone Events has the meaning set forth in Section 7.2.

  • Milestone Date means the date set against the relevant Milestone in the Implementation Plan;

  • Milestones means control points in the project that help to chart progress. Milestones may correspond to the completion of a key deliverable, allowing the next phase of the work to begin. They may also be needed at intermediary points so that, if problems have arisen, corrective measures can be taken. A milestone may be a critical decision point in the project where, for example, the consortium must decide which of several technologies to adopt for further development.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • Sublicense Revenue means [***].

  • Project Milestone means the project milestone set forth in Schedule-J;

  • Net Sales means [***].

  • Sublicense Revenues means [***].

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Project Milestones means the project milestones set forth in Schedule-G;

  • Sublicense Fees shall have the meaning set forth in Section 7.3 below.

  • Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Royalty Payment has the meaning set forth in Section 6.1.