Commercial Milestone Payment Sample Clauses

Commercial Milestone Payment. In addition to the Event Milestone Payments, in consideration of the rights granted to PFIZER hereunder, and subject to the terms and conditions of this Agreement, PFIZER shall pay to XXXXX a non-refundable and non-creditable milestone payment of [*****************************************] (the “Commercial Milestone Payment”) if during the period beginning on the date of the Launch of the first Licensed Product and ending on the tenth anniversary thereof, the aggregate Net Sales of all Licensed Products exceeds [********************************************] in any period consisting of four (4) consecutive Pfizer Quarters (i.e. rolling annual sales of more than [***********]. PFIZER shall pay to XXXXX the Commercial Milestone Payment within sixty (60) days after the end of the relevant Pfizer Quarter. For the avoidance of doubt, the Commercial Milestone Payment shall only be paid once.
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Commercial Milestone Payment. First time that worldwide Net Sales in a Calendar Year are in excess US [***] [***] First time that worldwide Net Sales in a Calendar Year are in excess US [***] [***] First time that worldwide Net Sales in a Calendar Year are in excess US [***] [***]
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Commercial Milestone Payment. Licensee will pay to UWMRF a one-time, non-creditable, non-refundable payment upon the first occurrence of each the following events based on upon the sale of any product covered by the licensed patents: -$ during the first year in which global annual net sales of licensed products exceed $XXX,000 -$ during the first full year in which global annual net sales of licensed products exceed $X,XXX,000 Milestones may include, but are not limited to: Completion of Business Plan, Hiring of Management Team, Completion of Prototype, Submission of Grant, First Sublicense, Initiation of Clinical Trials (all phases), Initiation of FDA Filings, First Sale, Minimum Series A Funding of $ , etc. The UWMRF requires that its Licensees identify specific and quantitative goals that the Licensee expects to reach during the course of its commercialization of the licensed patents and technology. Since the UWMRF has a mandate that its inventions be developed in the interests of the public, it uses these guidelines to gauge the progress of the Licensee and to ensure that the technology is being actively commercialized. Development, Commercialization & Diligence Development Licensee shall be fully responsible, including assuming all costs and expenses whether direct or indirect, for all product research, product development, regulatory approval (if required), marketing/ pricing approval (if required), market research, marketing, manufacturing development, manufacturing, packaging, and sales. Licensee agrees to provide UWMRF with a development plan that encompasses the steps necessary to allow the Licensed Patent(s) to be utilized to provide products for sale in the commercial marketplace. Diligence and Effort Each party will use commercially reasonable efforts to carry out its responsibilities under the patent License Agreement. Licensee shall use commercially reasonable efforts to develop and commercialize products covered by the Licensed Patents throughout the Territory and in any event use efforts no less than what it would expend for a project of similar scientific and commercial potential. Other Third Party Payments Licensee will be responsible for obtaining and maintaining all licenses and other rights required, if any licenses or rights are required, to develop and commercialize products covered by the Licensed Patents and will be responsible for paying all third-party royalties or other obligations related to such license or other rights. Other Matters The patent license ag...
Sample 1
Commercial Milestone Payment. Within [***] after the first achievement of the milestone event set forth in the table below, Licensee shall provide Verrica with written notice of such achievement. Within [***] upon receipt from Verrica of an invoice and all Tax Documents for the relevant amount payable to Verrica under this Section 8.3, Licensee shall pay to Verrica the corresponding non-refundable, non-creditable milestone payment set forth in such table. CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED Commercial Milestone Payment Net Sales of all Products exceed [***] in a Calendar Year $[***] For clarity, the above commercial milestone payment is payable only once.
Sample 1
Commercial Milestone Payment. The first Commercial Milestone Payment in the illustration is reduced for two reasons. First, the Sandoz Parties’ portion of Profits would be less than [**]% if the full $[**] Commercial Milestone Payment was made. Therefore, the Commercial Milestone is reduced as follows. [**]% of the Profits since the last Milestone Payment Quarter (or since U.S. Launch in this case, since it is the first Commercial Milestone Payment) is calculated. Here, the total Profits are $[**], and [**]% of the sum of such Profits for the [**] through the [**] Post-Launch Quarters is $[**]. From this [**]% of the $[**] in Profits is subtracted any Profit/royalty payments made to Momenta (excluding the effects of subsections C and E of this Schedule 4.3) during the same [**] Quarters (in this case, Profit payments, which total $[**]), resulting in $[**]. This $[**] is the Commercial Milestone Payment adjusted for the provision that ensures the Sandoz Parties’ minimum [**]% Profit share (subsection B.1 of this Schedule 4.3). The first Commercial Milestone Payment is then further adjusted (as described in subsection B.2 of this Schedule 4.3) by subtracting $[**] for the Momenta Share of Excess Costs in that Quarter, resulting in a final adjusted Commercial Milestone Payment of $[**]. The second and third Commercial Milestone Payments do not require similar adjustments and are both $[**].
Sample 1
Commercial Milestone Payment. Section 9.3 (Commercial Milestones) of the LCA requires DSE to pay Esperion a Xxx Xxxxxxx xxx Xxxxx Xxxxxxx Xxxxxx Xxxxxx dollars ($150,000,000) commercial milestone payment upon the First Commercial Sale of a Licensed Product in the DSE Territory (the “Commercial Milestone Payment”). DSE and Esperion hereby agree that, notwithstanding anything in Section 9.3 (Commercial Milestones) of the LCA, DSE shall not be required to pay Esperion the Commercial Milestone Payment, provided DSE has paid Esperion the Regulatory Approval Transfer Payment set forth in paragraph 2 of this 1st Amendment.
Sample 1
Commercial Milestone Payment. A commercial milestone payment of Dollars ($XXX,XXXX), due and payable within six (6) months of the first Sale of a Licensed Product anywhere in the Licensed Territory.
Sample 1
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Related to Commercial Milestone Payment

  • Commercial Milestone Payments For each Licensed Product, Licensee shall pay Arvinas the following one-time milestone event payments when the aggregate Net Sales of such Licensed Product in one or more particular country(ies) for a given calendar year (“Annual Net Sales”), where such Licensed Product is a Valid Claim Licensed Product at the time of sale in each of such country(ies), first achieves the corresponding threshold as set forth in this Section 6.3.2 below, subject to the terms of this Section 6.3 and the payment provisions in Article 7 below: Commercial Milestone Event Milestone Event Payment (US$)

  • 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).

  • 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.

  • Commercial Milestones In partial consideration of the rights granted by AstraZeneca to Licensee hereunder, Licensee shall pay to AstraZeneca the following payments, which shall be non-refundable, non-creditable and fully earned upon the first achievement of the applicable milestone event:

  • Sales Milestone Payments As further consideration for Daiichi Sankyo’s grant of the rights and licenses to Rain hereunder, Rain will pay to Daiichi Sankyo the following payments upon the first achievement of the following levels of aggregate annual Net Sales of all Products by Rain, its Affiliates, and its Sublicensees. If two or more sales milestone events are achieved in the same [***], then Rain shall pay to Daiichi Sankyo all of the applicable milestone payments achieved in such [***]. Rain shall deliver written notice to Daiichi Sankyo within [***] after the end of the [***] in which a sales milestone threshold described in this Section 5.3 is achieved for the first time. Aggregate annual Net Sales of all Products shall be calculated based on Net Sales for each Calendar Year. After receipt of such notice from Rain, Daiichi Sankyo shall issue Rain an invoice for the amount corresponding to the applicable sales milestones event. Rain shall pay Daiichi Sankyo within [***] after receipt of an invoice therefor from Daiichi Sankyo. Milestone Event Payment Amount Aggregate Annual Net Sales of all Products combined in the Territory in a Calendar Year equals or exceeds [***] [*** ] Aggregate Annual Net Sales of all Products combined in the Territory in a Calendar Year equals or exceeds [***] [*** ] [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED BECAUSE THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED. EXECUTION VERSION Aggregate Annual Net Sales of all Products combined in the Territory in a Calendar Year equals or exceeds [***] [*** ] Aggregate Annual Net Sales of all Products combined in the Territory in a Calendar Year equals or exceeds [***] [*** ]

  • Milestone A principal event specified in the Contract Documents including the Material Completion and Occupancy Date and other events relating to an intermediate completion date or time.

  • Milestone Payments In the event that any Sellers believe that any Additional Milestone has been achieved during the Post-Closing Milestone Period, the Sellers’ Representative shall provide notice of such achievement to Purchaser. If Purchaser determines in its sole and reasonable discretion that such Additional Milestone has been achieved during the Post-Closing Milestone Period, then within thirty (30) days of such notice from Sellers’ Representative or, if earlier, within thirty (30) days of Purchaser’s determination that such Additional Milestone has been achieved, Purchaser shall notify Sellers’ Representative of its determination and pay to Sellers the Additional Milestone Payment payable in respect of such Additional Milestone. If Sellers’ Representative delivers such a notice and Purchaser determines, in its sole and reasonable discretion, that the applicable Additional Milestone has not been achieved, then, within thirty (30) days of Sellers’ Representative’s notice Purchaser shall notify Sellers’ Representative of such determination. If Sellers’ Representative believes that Sellers are entitled to payment of all or any portion of an Additional Milestone Payment hereunder which they have not received within thirty (30) days following the achievement of the Additional Milestone for which payment is due, Sellers’ Representative may, not later than twelve (12) months following the achievement of such Additional Milestone, deliver to Purchaser a notice setting forth Sellers’ Representative’s determination that all or a portion of such Additional Milestone Payment is due under this Agreement (the “Post-Closing Assessment Notice”). If Sellers’ Representative does not deliver to Purchaser a Post-Closing Assessment *** Portions of this page have been omitted pursuant to a request for Confidential Treatment filed separately with the Commission. Notice within such twelve (12) month period, then Sellers shall have been deemed to agree that the Additional Milestone has not been met and no payment with respect to such Additional Milestone is due to Sellers hereunder and Sellers shall have no further rights to such Milestone Payment or any portion thereof. Such Post-Closing Assessment Notice may be delivered before or after the expiration of the Post-Closing Milestone Period without affecting Sellers’ rights to the applicable Milestone Payment, provided that that applicable Additional Milestone was actually achieved prior to the expiration of such Post-Closing Milestone Period. If Purchaser shall object to Sellers’ determination that a Additional Milestone has been achieved as set forth in the Post-Closing Assessment Notice, then Purchaser shall deliver a dispute notice (a “Post-Closing Milestone Dispute Notice”) to Sellers’ Representative within fifteen (15) days following Sellers’ Representative’s delivery of the Post-Closing Assessment Notice. A representative of Purchaser, on the one hand, and the Sellers’ Representative, on the other, shall attempt in good faith to resolve any such objections within fifteen (15) days of the receipt by Sellers of the Post-Closing Milestone Dispute Notice. If no Post-Closing Milestone Dispute Notice is delivered within the fifteen (15) day time period, then Sellers’ determination that the Additional Milestone has been achieved, and that the amount of the Milestone Payment specified in the Post-Closing Milestone Dispute Notice is due hereunder, shall be deemed to be accepted and Purchaser shall pay to Sellers those amounts set forth in the Post-Closing Assessment Notice no later than five (5) days after the expiration of such fifteen (15) day time period.

  • Development Milestones In addition to its obligations under Paragraph 7.1, LICENSEE specifically commits to achieving the following development milestones in its diligence activities under this AGREEMENT: (a) (b).

  • 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.

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