Regulatory Milestone Event definition
Examples of Regulatory Milestone Event in a sentence
Notwithstanding anything to the contrary, Licensee shall not be deemed in breach of its diligence |US-DOCS\163899140.5|| obligations under this Agreement, nor shall any delay or failure to achieve Regulatory Milestone Event be considered a failure of diligence, to the extent IDEAYA’s lack of reasonable cooperation or provision of necessary information in accordance with this Article 4 (Development) is the proximate cause of, or materially contributed to, such delay or failure.
In partial consideration of the licenses granted herein, Licensee shall pay IDEAYA the following one-time, non-refundable, non-creditable Regulatory Milestone payments (each, a “Regulatory Milestone Payment”) set forth in the table below upon the first achievement of the corresponding Regulatory Milestone or regulatory milestone event (each such event, a “Regulatory Milestone Event”) by the first Licensed Product to achieve such Regulatory Milestone Event.
Licensee shall pay IDEAYA the applicable Commercial Milestone Payment within [***] after the first achievement of each relevant Regulatory Milestone Event.