Development Milestone Fee Sample Clauses
The Development Milestone Fee clause establishes a payment structure tied to the achievement of specific project milestones during a development process. Under this clause, the party responsible for development receives a predetermined fee each time a defined milestone—such as completion of a project phase or delivery of a key component—is reached and accepted. This approach incentivizes timely progress, ensures accountability, and helps both parties manage financial risk by linking payments to tangible results.
Development Milestone Fee. In addition to the Consideration, Licensee shall pay Licensor the agreed Development Milestone Fee (as defined in Exhibit B), conditioned upon the completion of the Milestones as set forth in the Development Plan (both as defined below), all as to be set forth in the Development Plan. It is agreed that Licensee shall notify Licensor within three (3) business days as of the completion of each Milestone. Without derogating from Section 4.2 below, upon the completion of each Milestone, Licensee shall pay Licensor the applicable Development Milestone Fee as set out in the Development Plan within fourteen (14) days of Licensee’s notice of completion of such Milestone.
Development Milestone Fee. Nurexone shall pay to Polyrizon a total of three million three hundred and fifty thousand dollars ($3,350,000.00) (the “Development Milestone Fee”) in consideration for and conditioned upon the completion of each milestone as set forth below(“Milestone”). Polyrizon will issue to Nurexone an invoice for the portion of the Development Milestone Fee then due and Nurexone shall pay the Development Milestone Fee in accordance with the following:
Development Milestone Fee. 4.3.1. SciSparc shall pay to Polyrizon a total of up to two million and five hundred and fifty thousand dollars ($2,550,000.00) (the “Development Milestone Fee”) in consideration for and conditioned upon the completion of the milestones as set forth below (“Milestone”). Polyrizon will issue to SciSparc an invoice for the portion of the Development Milestone Fee then due and SciSparc shall pay the Development Milestone Fee in accordance with the following:
Development Milestone Fee. Within ten (10) business days after receipt by Licensee, its Affiliates or Designee of the first marketing approval for a Licensed Product from the United States Food and Drug Administration or any successor agency or authority thereto ("FDA"), Licensee shall pay to Genentech a non-creditable, non-refundable development milestone fee of [ *** ].
Development Milestone Fee. Lorus shall pay to Genentech a one time non-creditable, non-refundable milestone fee within thirty (30) calendar days of the occurrence of each of the following milestone events, provided that in no event shall (i) any milestone fee be paid more than once, regardless of the number of Licensed Products that are developed, and (ii) the total payments under this Section 3.02 exceed two million three hundred and twenty-five thousand dollars (U.S. $2,325,000) in the aggregate. REDACTED – MILESTONE PAYMENTS If a milestone fee for the first Licensed Product is paid and such first Licensed Product subsequently is withdrawn from development for any reason, then a subsequent Licensed Product will become the first Licensed Product for the purposes of the above milestone events, and any milestone fee that has already been paid shall be counted as a milestone fee paid for such subsequent Licensed Product, such that no milestone fee is paid twice for the same milestone event.
Development Milestone Fee. Within [***] ([***]) [***] after [***], Licensee shall pay to Genentech a non-creditable, non-refundable development milestone fee of [***] dollars (U.S. $[***]).
Development Milestone Fee. Lorus shall pay to Genentech a one time non-creditable, non-refundable milestone fee within thirty (30) calendar days of the occurrence of each of the following milestone events, provided that in no event shall (i) any milestone fee be paid more than once, regardless of the number of Licensed Products that are developed, and (ii) the total payments under this Section 3.02
Development Milestone Fee