Examples of Sales Milestone Event in a sentence
Sales Milestone Event Sales Milestone Payment (USD) Any [***] Lead Candidate Product 1 [***] $[***] 2 [***] $[***] Total $40,000,000 Any TARP8 Development Candidate Product other than a [***] Lead Candidate Product 3 [***] $[***] 4 [***] $[***] Total $42,000,000 Licensee will provide Xxxxxxx with written notice of the achievement of each sales milestone event within [***].
For clarity, no Sales Milestone Payment will be due hereunder for any subsequent or repeated achievement of such same Sales Milestone Event.
Each Sales Milestone Event will be payable one time only as set forth in the table above, upon achievement of the applicable Sales Milestone Event for all Licensed Products.
In the event that Annual Net Sales of all Licensed Products first achieve a Sales Milestone Event during a particular Calendar Quarter in a Calendar Year, Licensee will notify Licensor thereof in the next due Royalty Report for such Calendar Quarter as described in Section 10.5 (Royalty Payments and Reporting).
No later than [*] after a Sales Milestone Event is achieved, Ipsen will notify Sutro in writing and will pay Sutro the Sales Milestone Payment no later than [*] after receipt by Ipsen of an invoice from Sutro corresponding to such Sales Milestone Payment.