Milestone Event. Milestone Payment
Milestone Event. The Milestone Event having occurred;
Milestone Event. “Milestone Event” means each event referred to in the Milestone Table under the heading “Milestone Event.”
Milestone Event. Upon the earliest to occur of (i) dosing of the first patient in the first Pivotal Clinical Trial initiated by Buyer or its Affiliates, a licensee with respect to any Product, or any other Person that has been granted or received a right to develop, manufacture, commercialize or otherwise exploit a Product, whether such rights are obtained by assignment, license, sublicense, or any other grant or transfer of rights (each, a “Milestone Party”), (ii) a Milestone Party applies for an accelerated approval pursuant to the FDA’s Accelerated Approval Program, or (iii) a Milestone Party submits a marketing application for Regulatory Approval for a Product (such occurrence, the “Milestone Event”), Buyer shall be obligated to pay Seller the Contingent Payment. For the avoidance of doubt, the Milestone Event may be achieved only once hereunder and the Contingent Payment shall be payable only once.
Milestone Event. The Transfer Payment shall be paid to SGI by MLFC, subject to satisfaction of the provisions of Section 13.3 below, upon the occurrence of the earlier to occur of either of the following (each, a "Milestone Event"):
Milestone Event. [***] For the avoidance of doubt, the Parties agree that all payments under this Section 6.2.2 are payable only once.
Milestone Event. Payment Amount (in millions)
Milestone Event. Option Shares 1) Reaching break-even for a calendar quarter 1,000,000
Milestone Event. Upon a Cyclacel Drug Candidate achieving first commercial Sale [***] for a Study Indication described in Study Work Order or Appendix I (this Milestone Payment will be paid up to four times); · Upon a Cyclacel Drug Candidate achieving first commercial Sale [***] for a Study Indication described in Study Work Order or Appendix I (this Milestone Payment will be paid up to four times); · Upon a Cyclacel Drug Candidate achieving first commercial Sale [***] for a Study Indication described in Study Work Order or Appendix I (this Milestone Payment will be paid up to four times); · Cumulative $[***] in Sales of either or all Cyclacel Drug Candidates for Study Indications described in Study Work Order or Appendix I; · Cumulative $[***] in Sales of either or all Cyclacel Drug Candidates for Study Indications described in Study Work Order or Appendix I; · Cumulative $[***] in Sales of either or all Cyclacel Drug Candidates for Study Indications described in Study Work Order or Appendix I. Portions of this Exhibit, indicated by the mxxx “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
Milestone Event. Subject to the remainder of this Section 5.1, Licensee shall pay to Licensor a one-time, non-refundable development milestone payment of Twenty Five Million Dollars ($25,000,000) upon the first MAA approval for a BION-1301 Licensed Product by the NMPA (the “BION-1301 Approval Milestone”). The BION-1301 Approval Milestone shall be due and payable (i) irrespective of whether such milestone event is achieved by Licensee, its Affiliates or sublicensee and (ii) only if the milestone event is achieved in mainland China. The BION-1301 Approval Milestone is payable only once, regardless of how many times such milestone event is achieved and/or the number of BION-1301 Licensed Products that achieve such milestone event.
