Complement Licensed Product Sales Milestones Sample Clauses

Complement Licensed Product Sales Milestones. In connection with Mallinckrodt’s exercise of its Option with respect to any Complement Target in respect of which it has to make a payment pursuant to Section 3.2, the Parties shall identify the milestone payments that will be due for the achievement of the milestone events set forth in the table in this Section 8.5, which shall be similar to those set forth in such table. If the Parties fail to reach agreement on such milestone payments within [***] days of the date of Mallinckrodt’s exercise of such Option (or such longer period of time as may be mutually agreed by the Parties), then the matter shall be submitted to and finally decided by a Neutral Expert as set forth in this Section 15.6.5, who shall establish such milestone payments, which shall be similar to those set forth in the table in this Section 8.5. Mallinckrodt, by written notice delivered to Silence within [***] days of the Parties’ receipt of the decision of the Neutral Expert, may relinquish its Option with respect to such Complement Target. If Mallinckrodt fails to provide such notice, it shall be deemed to have agreed to the decision of the Neutral Expert regarding such milestone payments and it shall be obligated to pay the Option Exercise Payment within [***] days of the Parties’ receipt of the decision of the Neutral Expert.