Development Plan Milestones Clause Samples
The Development Plan Milestones clause defines specific deadlines and performance targets that a party must meet during the course of a project or agreement. It typically outlines key stages of development, such as completion of design, prototype delivery, or regulatory submissions, and may tie these milestones to payments or other obligations. This clause ensures that progress is measurable and transparent, helping to keep the project on track and providing a basis for accountability if delays or issues arise.
Development Plan Milestones. Licensee agrees to use its best efforts to meet any and all milestones set forth above and in the Development Plan on or before the times set forth in the Development Plan including, without limitation, the development milestones for each Licensed Product and any Licensed Service.
Development Plan Milestones. QBI agrees to submit to Atugen QBI’s development plan describing QBI’s best estimate of the time schedule for reaching the following milestones: [ * ].
Development Plan Milestones. ▇▇▇▇▇▇▇▇ and Developer wish to pursue the Development Plan along milestones (“Milestones”, which may or may not be sequential) established by ▇▇▇▇▇▇▇▇ and Developer from time to time for the Development Approvals, the Land Acquisitions, the Rezonings, the Replatting, the Preliminary Development Plan, the Final Development Plan, the Public TIF and the IRB Financing, and ▇▇▇▇▇▇▇▇ and Developer may, from time to time by amendment to this Agreement, amend the Milestones. Those initial Milestones set by this Agreement include:
2.1 Funding of School District Parcels acquisition: November 21, 2023.
2.2 Funding of ▇▇▇▇▇▇▇ School demolition: August 1, 2024.
Development Plan Milestones. COMPANY will, subject to the terms of the Agreement, be in control of the development and commercialization of Licensed Products. COMPANY will diligently develop the Technology and make commercially reasonable efforts to bring Licensed Products to market. COMPANY understands that such diligence by COMPANY is essential for Licensors to realize their value from the commercialization of the Technology. Hence, COMPANY will meet the following developmental milestones. If COMPANY fails to meet any of the following developmental milestones, then Licensors may elect to terminate the Agreement.
(a) Meet the research agreement/funding obligation provided in Section 2.05 of the Agreement.
(b) Initiate a Phase II clinical trial of a Licensed Product prior to the expiration of the 6th anniversary of the Effective Date.
Development Plan Milestones. ILEX'S best efforts obligations set forth in SECTION 4.1 shall be deemed fulfilled if ILEX completes the following milestones in the times prescribed or any extensions as provided in this ARTICLE IV or by mutual agreement.
(i) ILEX shall have [**] months from the Effective Date to synthesize First Product and confirm TBI's in vivo studies ("MILESTONE 1").
(ii) ILEX shall have [**] months from the Effective Date to initiate GLP Toxicology studies ("MILESTONE 2").
(iii) ILEX shall have [**] months from the Effective Date to file the IND ("MILESTONE 3").
(iv) ILEX shall have [**] months from the Effective Date to complete Phase I trials ("MILESTONE 4").
(v) ILEX shall have [**] months from the Effective Date to complete Phase II trials ("MILESTONE 5").
(vi) ILEX shall have [**] months from the Effective Date to complete Phase III trials ("MILESTONE 6").
(vii) ILEX shall have [**] months from the Effective Date to file the NDA in the United States ("MILESTONE 7"). (Confidential treatment has been requested for portions of this page. The confidential portions have been redacted and are denoted by [**]. The confidential portions have been separately filed with the Securities and Exchange Commission.)
(viii) After completion of Mile▇▇▇▇▇ ▇, ▇▇▇▇ ▇▇▇ll diligently pursue FDA approval of an NDA. Upon receipt of FDA approval of an NDA ("MILESTONE 8"), ILEX's development efforts shall be deemed fulfilled.
Development Plan Milestones. Licensee agrees to use its best efforts to meet any and all milestones set forth above and in the Development Plan on or before the times set forth in the Development Plan including, without limitation, the development milestones for each Licensed Product and any Licensed Services. [*] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portion. CERTAIN PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED BASED UPON A REQUEST FOR CONFIDENTIAL TREATMENT AND THE NON-PUBLIC INFORMATION HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.