Research Milestone Payments definition
Examples of Research Milestone Payments 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.
ONO may terminate the Agreement in the event of Change in Control of Receptos during the Research Term, upon sixty (60) days prior written notice, provided that such termination shall not relieve ONO of the obligation to pay Receptos any Research Milestone Payments or Development Milestone Payments which would otherwise be payable hereunder unless the Target Exclusivity Period terminates pursuant to ONO’s provision to Receptos of the Cessation Notice of Active Research.
ONO shall not be required to make any additional payments for the conduct of the Collaborative Research by Receptos other than the FTE Cost, the Outsourcing Cost, the Research Milestone Payments and the Development Milestone Payments as set forth herein.
Each Party’s records shall be in sufficient detail to allow the payment obligations of ONO to be determined accurately with respect to the Research Milestone Payments and Development Milestone Payments.
For the avoidance of doubt, the Milestone Ceiling amount is exclusive of (i) the Event Milestone Payments set forth in Sections 5.1(a), (b) and (c) (ii) the Research Milestone Payments set forth in Section 5.1 (e) and (iii) the Commercial Milestone Payment (as defined in Section 5.2 below).
In case that Alternative Target becomes the new Collaboration Target and if the Target Exclusivity Period of the original Collaboration Target (***) remains effective at the time of their achievement, the Research Milestones Payment for Research Milestone Events No. 8 and No. 9 specified in this Section 6.3 with respect to original Collaboration Target shall remain payable by ONO to Receptos in addition to any Research Milestone Payments achieved with respect to the new Collaboration Target.
In such case, the applicable Research Milestone Payments corresponding to such Research Milestone Events shall be paid by ONO to Receptos.
The Initial Payment and the Research Milestone Payments shall be paid by wire transfer in United Kingdom Pounds (UK£) within thirty (30) days of the date of invoice by wire transfer to the account of AERES Biomedical Ltd.
After Sanofi has paid USD [***] in aggregate for all Research Milestone Payments, no further Research Milestone Payments will be due.
If a Research Milestone Payment would result in Sanofi paying in excess of USD [***], then Sanofi shall pay the portion of that Research Milestone Payment that results in Sanofi paying USD [***] in aggregate for all Research Milestone Payments.