Examples of Research Milestone in a sentence
This Agreement shall be effective from the Original Effective Date until all Research Milestone Payments under Section 4.4 have been paid, (the “Term”), unless earlier terminated in accordance with this Article 15.
For clarity, each Research Milestone Payment is payable once only for each Allogeneic CTL Product and once for each Autologous CTL Product, and each Research Milestone Payment is non-refundable, and is not an advance against royalties due to Institute or any other amounts due to Institute.
In the event that Receptos concludes that the contents of such Annual Update is insufficient to determine whether or not one or more Research Milestone Events and Development Milestone Events has been achieved by ONO, Receptos shall have the right to request ONO to provide further detailed information relating to the subject matter of such Annual Update in order to make such determination, and ONO shall in good faith respond to Receptos’ request.
For clarity, the Research Milestone shall be payable only one (1) time for a given Active Selected Target upon the initial achievement of the Research Milestone and no amounts shall be due hereunder for subsequent or repeated achievement of such Research Milestone for such Active Selected Target (e.g., achievement of the same Research Milestone for separate Compounds would not trigger separate Research Milestone payments).
Further, if a Research Milestone Event is achieved prior to the end of the Wind Down Period, the applicable Research Milestone Payment shall be made by ONO to Receptos.