Payment of Milestone Fees Sample Clauses

Payment of Milestone Fees. NN will be obligated to pay ------------------------- to ZGI each of the milestone fees set forth in the table below (the "Milestone Fees"). The execution fee for the CPC License shall be paid by NN to ZGI only once for each ZSS. All other Milestone Fees shall be paid by NN to ZGI for each Zid Embodiment within each ZSS that proceeds through clinical development. If multiple members of a single Zid Embodiment proceed through development, NN shall pay Milestone Fees only for the first such member to pass each milestone; however, upon commercialization of a second and subsequent member of the same Zid Embodiment by NN, or a Commercialization Partner or Sublicensee, then NN shall pay to ZGI full sets of Milestone Fees for such second and subsequent members of that Zid Embodiment. Each Milestone Fee shall be non-refundable and non-creditable against any other amounts payable by NN under this Agreement, such BC CPC Pre-Negotiated License agreement or any other agreement. Each Milestone Fee shall be payable by NN to ZGI within ten (10) business days after achievement of the corresponding milestone. Upon actual payment of each Milestone Fee, NN shall be considered as having fulfilled its diligence obligations under SECTION 7.8.1 above, and the date of the payment shall be deemed the date of occurrence of the diligence event for the purposes of calculating the timing of the next occurring diligence obligation. ------------------------------------------------------------------------------------------------------------- Upon Upon the earlier of Upon the earlier of Upon the earlier of execution of [*] from [*] from [*] from the license achievement of CPC achievement of CPC achievement of CPC and PLA Filing in and PLA Filing in and PLA Filing in Europe for Product Japan for Product US for Product based on each Zid based on each Zid based on each Zid Embodiment Embodiment Embodiment ------------------------------------------------------------------------------------------------------------- Each Zid [*] [*] [*] [*] Embodiment in ZSS -------------------------------------------------------------------------------------------------------------
Sample 1Sample 2See All (8)
AutoNDA by SimpleDocs
Payment of Milestone Fees. The licensee will be obligated to pay to ------------------------- the licensor each of the milestone fees set forth in the table below (the "Milestone Fees") for each Patent Product that proceeds through development. Each Milestone Fee shall be non-refundable and non-creditable against any other amounts payable by the licensee. Each Milestone Fee shall be payable by the licensee to the licensor within ten (10) business days after achievement of the corresponding milestone. Upon actual payment of each Milestone Fee, the licensee shall be considered as having fulfilled its diligence obligations under SECTION 4.3.3(A) above, and the date of the payment shall be deemed the date of occurrence of the diligence event for the purposes of calculating the timing of the next occurring diligence obligation. ------------------------------------------------------------------------------------------------------------------------------------ Upon execution Diligence Upon the earlier Upon the earlier of Upon the earlier of Upon the earlier of the license obligation of [ * ] years [ * ] years after [ * ] years from of [ * ] years 4.3.3(A)(ii) after 4.3.3(A)(ii) IND Filing (first initiation of a from initiation attained attained and IND human dose) approval Phase III clinical of a Phase III Filing (first human and initiation of a trial and PLA clinical trial dose) Phase III clinical Filing in Europe and PLA Filing trial in Japan ------------------------------------------------------------------------------------------------------------------------------------ Each Patent Product [ * ] [ * ] [ * ] [ * ] [ * ] [ * ] ------------------------------------------------------------------------------------------------------------------------------------
Sample 1Sample 2
Payment of Milestone Fees. NN will be obligated to pay ------------------------- to ZGI each of the milestone fees set forth in the table below (the "Milestone Fees"). The execution fee for the Medical Hypothesis License and for PLPC approval shall be paid by NN to ZGI for the first Zid Embodiment within each ZSS. All other Milestone Fees shall be paid by NN to ZGI for each Zid Embodiment within each ZSS that proceeds through clinical development. If multiple members of a single Zid Embodiment proceed through development, NN shall pay Milestone Fees only for the first such member to pass each milestone; however, upon commercialization of a second and subsequent member of the same Zid Embodiment by NN, or a Commercialization Partner or Sublicensee, then NN shall pay to ZGI full sets of Milestone Fees for such second and subsequent members of that Zid Embodiment. Each Milestone Fee shall be non-refundable and non-creditable against any other amounts payable by NN under this Agreement, such RoW Medical Hypothesis Pre-Negotiated License agreement or any other agreement. Each Milestone Fee shall be payable by NN to ZGI within ten (10) business days after achievement of the corresponding milestone. Upon actual payment of each Milestone Fee, NN shall be considered as having fulfilled its diligence obligations under SECTION 5.4.1 above, and the date of the payment shall be deemed the date of occurrence of the diligence event for the purposes of calculating the timing of the next occurring diligence obligation.
Sample 1Sample 2
Payment of Milestone Fees. NN will be obligated to pay ------------------------- to ZGI each of the milestone fees set forth in the table below (the "Milestone Fees"). The execution fee for the Medical Hypothesis License and for PLPC approval shall be paid by NN to ZGI for the first Zid Embodiment within each ZSS. All other Milestone Fees shall be paid by NN to ZGI for each Zid Embodiment within each ZSS that proceeds through clinical development. If multiple members of a single Zid Embodiment proceed through development, NN shall pay Milestone Fees only for the first such member to pass each milestone; however, upon commercialization of
Sample 1Sample 2
Payment of Milestone Fees. Schering shall pay to CIMA the appropriate milestone payment due under Subsections 4.2(a)(ii), (iii) and (iv) within [. . . *** . . .] after receipt by Schering of an invoice from CIMA for such milestone payment. The applicable milestone payment shall be payable only once upon the completion of each such milestone and no amounts shall be due hereunder for subsequent or repeated achievement of such milestone.
Sample 1

Related to Payment of Milestone Fees

  • Milestone Fees Licensee will pay Milestone Fees indicated in Section 3.1(b) of the Patent & Technology License Agreement by the Quarterly Payment Deadline for the Contract Quarter in which the milestone events set forth in Section 3.1(b) of the Patent & Technology License Agreement are achieved.

  • Milestone An event associated with a specific date, for which a payment will be due, as set out in the Payment Schedule of any Project Agreement.

  • Milestone Payment Within thirty (30) days following the first Patent Issuance, Eton shall give written notice to Imprimis and shall pay to Imprimis a non-refundable and noncreditable payment of fifty thousand dollars ($50,000).

  • Sales Milestone Payments Licensee shall notify MTI of any Calendar Year in which annual Net Sales of a Licensed Product in such Calendar Year in all countries in the Territory reach the following thresholds for the first time within [***] days after the end of such Calendar Year, and shall make the following sales milestone payments to MTI within [***] days after receiving an invoice from MTI therefor: Annual Net Sales Threshold Sales Milestone Payment [***] [***] [***] [***] [***] [***] Each sales milestone payment is separate and may only be earned once for each Licensed Product, irrespective of the number of times such thresholds are achieved for such Licensed Product, but if more than one Net Sales threshold is reached in the same Calendar Year, all corresponding sales milestone payments shall be payable during such Calendar Year. For example, if annual Net Sales of a Licensed Product first reach [***] dollars [***] in Calendar Year 1, [***] dollars [***] shall be payable to MTI for such Calendar Year 1, however, if annual Net Sales of a Licensed Product first reach [***] dollars ($500,000,000) in Calendar Year 2 [***] Portions of this exhibit have been redacted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Commission. (without first reaching [***] dollars [***] in Calendar Year 1), then both the [***] dollars [***] and the [***] dollars [***] sales milestone payments would be payable to MTI for such Calendar Year 2. Net Sales of the Co-Exploited Product in the United States, which are subject to profit and loss sharing pursuant to the Co-Exploitation Terms, shall be excluded from the annual Net Sales of such Co-Exploited Product for purposes of this Section 7.10.

  • Milestone Event Milestone Payment [***] [***]

  • Development Milestone Payments In partial consideration for the rights and licenses granted to Coya hereunder, within ten days after the first achievement of each milestone event in a given Indication set forth in this Section 5.2 (Development Milestone Payments) with respect to a Product (each, a “Development Milestone Event”) by or on behalf of Coya or any of its Affiliates or Sublicensees, Coya shall provide ARScience Bio written notice to ARScience Bio identifying the Development Milestone Event achieved. Upon receipt of any such notice of first achievement of a Development Milestone Event by Coya or its Affiliates or Sublicensees, ARScience Bio will promptly invoice Coya for the applicable Development Milestone Event and Coya will make a milestone payment to ARScience Bio in the amount set forth in this Section 5.2 (Development Milestone Payments) corresponding to such Development Milestone Event (each, a “Development Milestone Payment”) within 45 days of receipt of such invoice. On an Indication-by-Indication basis, each Development Milestone Payment shall be payable only upon the first achievement of the corresponding Development Milestone Event by a Product, in any given Indication for which the Development Milestone Events have not been previously achieved (each such Indication, a “New Indication”). No amounts shall be due for subsequent or repeated achievements of such Development Milestone Event with respect to the same or different Mono Product or Combination Product, as applicable, in such Indication. Accordingly and for clarity, the Development Milestone Payment shall be paid only once, when first achieved by Coya, an Affiliate or a Sublicensee, but no payment shall be due if the same milestone is subsequently achieved by one of Coya, an Affiliate or a Sublicensee. For clarity, the amounts owed in Column (a) below shall be due for the first Combination Product to achieve the Development Milestone Events in a New Indication and the amounts owned in Column (c) below shall be due for the first Mono Product to achieve the Development Milestone Events in a New Indication. Any Combination Product or Mono Product to achieve the Development Milestone Events in a New Indication after the first achievement of the Development Milestone Events as described in the foregoing sentence will cause the amounts in Column (b) with respect to a Combination Product and Column (d) with respect to a Mono Product to be due and payable by Coya upon each such occurrence. If the first Product to achieve a Development Milestone Event in any Indication is a Combination Product, the amounts in Column (a) below shall be due and payable by Coya. If the next Product to achieve a Development Milestone Event in a New Indication is a Mono Product, the amounts in Column (c) below would be due and payable by Coya; provided, that if such next Product to achieve a Development Milestone Event in a New Indication is a Combination Product, the amounts in Column (b) would be due and payable by Coya. By way of example, if a Combination Product achieves IND Acceptance in ALS, and is the first Product to achieve a Development Milestone Event under this Agreement, [***] will be due and payable by Coya. If subsequently a Mono Product achieves IND Acceptance in ALS, no Development Milestone Payments will be due and payable by Coya under this Agreement. However, if subsequently any Combination Product achieves IND Acceptance in Alzheimer’s disease, [***] would be due and payable by Coya.

  • Milestone Payments In addition to the payments set forth in Sections 4.1 through 4.3 above, Company shall pay Hospital milestone payments as follows:

  • Commercial Milestone Payments Green Cross shall pay to MacroGenics the Net Sales milestone payments set forth below, which shall be due and payable within *** after the end of the first Calendar Year during which such milestone is triggered.

  • Sales Milestones As to each of the sales milestone events set forth below, GSK shall pay EPIZYME the non-refundable, non-creditable sales milestone payments indicated below upon the first achievement by GSK, its Affiliates or Sublicensees of the success milestone events set forth below with respect to each Selected Target, on a Selected Target-by-Selected Target basis. Sales Milestone Event (For Licensed Products directed to a Selected Target) Milestone Payment (in $ [**]) First Calendar Year in which aggregate world-wide Net Sales of Licensed Product(s) directed to such Selected Target are greater than or equal to $[**] [** ] First Calendar Year in which aggregate world-wide Net Sales of Licensed Product(s) directed to such Selected Target are greater than or equal to $[**] [** ] First Calendar Year in which aggregate world-wide Net Sales of Licensed Product(s) directed to such Selected Target are greater than or equal to $[**] [** ] Upon achievement by or on behalf of GSK, its Affiliates or Sublicensees of a sales milestone event set forth in this Section 6.7, GSK shall promptly (but in no event later than the date on which the royalty report for the Calendar Quarter in which such achievement occurs is due pursuant to Section 6.10.1) notify EPIZYME of such achievement, and GSK shall pay EPIZYME the corresponding sales milestone payment within [**] days after receipt of an invoice for the milestone payment from EPIZYME. Such invoice shall be sent to GSK’s Alliance Manager and [**] with a copy to [**] (or such other email address(es) as may be notified to EPIZYME by GSK). For the avoidance of doubt, more than one of the foregoing sales milestone payments may be earned and become payable with respect to Licensed Products directed to any given Selected Target in the same Calendar Year based on aggregate world-wide Net Sales of Licensed Product(s) directed to such Selected Target during such Calendar Year.

  • Milestones Licensee agrees to use commercially reasonable efforts to meet the milestones as detailed in Schedule 3. In the event that Licensee does not use commercially reasonable efforts to meet any of the milestones, University may at its discretion elect to terminate the licence granted under Clause 2.1 with respect to the relevant Milestones of this Agreement pursuant to Paragraph 7 of Standard Terms and Conditions. No indulgence given by University on any particular occasion shall be deemed or construed as a waiver of its right to terminate this Agreement on future occasions.

Time is Money Join Law Insider Premium to draft better contracts faster.