First Milestone Payment Clause Samples

First Milestone Payment. Within thirty (30) days of the issuance of the first Regulatory Approval for the use of a Licensed Product in a Major Market, other than for PSMA and/or PSMP, NWBio shall pay Cytogen the sum of Two Hundred Fifty Thousand Dollars ($250,000.00).

First Milestone Payment. Subject to Article VIII, on the First Milestone Completion Date, Purchaser shall deliver or caused to be delivered to Seller, the First Milestone Amount (if any);

First Milestone Payment. Parent shall make a one-time Milestone Payment to the Company Securityholders equal to $20,000,000 (the “Relaunch Milestone Payment”), to be paid in Parent Shares in accordance with Section 2.16(c), on or prior to the 20th Business Day following the date upon which Parent or any Subsidiary of Parent has received approval from the required Governmental Authorities to recommence sales on an unrestricted basis (in the same manner as approved prior to its suspension) in the European Union of Surgical Systems that use the Synergy System (the “Relaunch” and such approval from the required Governmental Authorities, the “Relaunch Approval”); provided, that the Relaunch Milestone Payment shall be reduced by $200,000 for each clinical case that is required by the applicable Governmental Authorities prior to receiving the Relaunch Approval (each, a “Clinical Case”) in excess of ten Clinical Cases (i.e., if eleven (11) Clinical Cases are required, then the Relaunch Milestone Payment shall be reduced to $19,800,000); provided, further, that not more than 20 Clinical Cases are required prior to receiving Relaunch Approval.

First Milestone Payment. Upon the execution of this Agreement by all Parties, the Collaboration Receivable Amount shall be automatically reduced by $10,000,000 (the “First Milestone Payment”).

First Milestone Payment. (i) Subject to adjustment pursuant to Section 2.8(b)(iii) and further subject to the provisions of Section 2.8(e) and Section 2.8(f) below, upon First Patient Dosage (the “First Milestone”), Acquiror agrees to issue to the Target Stockholders the First Milestone Stock Payment. (ii) In the event of a First Milestone Stock Payment, Acquiror shall issue the First Milestone Stock Payment, less the First Milestone Escrow Amount, to Target Stockholders within thirty (30) days of achievement of the First Milestone. Twenty percent (20%) of the First Milestone Payment (the “First Milestone Escrow Amount”) shall be withheld and deposited to the Escrow Agent to be held in the Escrow Fund in accordance with Section 8.1, if such First Milestone Payment is made prior to the first anniversary of the Closing Date. (iii) Notwithstanding the foregoing, the First Milestone Payment shall be subject to adjustment, as follows: (A) In the event the aggregate number of patients planned to be enrolled in the Pivotal Trials exceeds 250 patients, the First Milestone Payment shall be reduced by 125,000 shares of Acquiror Common Stock for each twenty (20) patients in excess of 250. For example, if 251 patients are planned to be enrolled in the Pivotal Trials, the First Milestone Payment would be reduced by 125,000 shares of Acquiror Common Stock, and if 271 patients are planned to be enrolled in the Pivotal Trials, the First Milestone Payment would be reduced by an additional 125,000 shares of Acquiror Common Stock, or an aggregate reduction of 250,000 shares of Acquiror Common Stock. (B) If, following Pivotal Trial Completion, the number of patients actually enrolled in the Pivotal Trials is less than the number of patients planned to be enrolled in the Pivotal Trials, within thirty (30) days of Pivotal Trial Completion, Acquiror either shall (1) in the case of a First Milestone Stock Payment, issue to Target Stockholders such number of shares of Acquiror Common Stock as is equal to (x) the number of shares of Acquiror Common Stock that would have been issued in connection with the First Milestone Stock Payment based on the number of patients actually enrolled in such trials, minus (y) the number of shares of Acquiror Common Stock that actually were issued to Target Stockholders in connection with the First Milestone Stock Payment, or (2) in the case of a First Milestone Cash Payment, re-calculate the First Milestone Cash Payment based on the number of patients actually enrolled in t...

First Milestone Payment. OBIO shall notify Terumo promptly after obtaining [***]. If the date of such [***] is on or before [***], Terumo shall pay to OBIO, in consideration of the work that is required to be completed by OBIO in furtherance of achieving the second Milestone as set forth in Section 3.1(e) below, within ten (10) Business Days after [***], five million U.S. dollars ($5,000,000) (“First Milestone Payment”).

First Milestone Payment. Within fifteen (15) Business Days after receipt by the Purchaser of a written notice from the Seller of the First Milestone Event, subject to the satisfaction of the conditions set forth in Section 6.5(a), an amount equal to TWENTY MILLION DOLLARS ($20,000,000) (the “First Milestone Payment”), in immediately available funds by wire transfer to the Seller Account which may be transferred by the Seller to the Company (the date of such payment, the “First Milestone Closing Date”). For the avoidance of doubt, if the First Milestone Event is not achieved by December 31, 2023, the Purchaser shall have no obligation to make the First Milestone Payment.

First Milestone Payment. Licensee shall pay Licensor [***] dollars ($[***]) which shall include (i) [***] dollars ($[***]) in cash and (ii) [***] dollars ($[***]) in cash or [***] dollars ($[***]) in the form shares of a new series of preferred stock of the Licensee (such shares of such new series of [***] INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24b-2 PROMULGATED UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED preferred stock to be specific for this milestone payment and equivalent to the Common Stock in all respects except that such series of preferred stock will rank senior to the Common Stock and that the per share price of each share of such new series of preferred stock shall be equal to that paid by the Licensee's then most recent equity investor), such form of payment to be determined by the Licensee and the Licensor through discussions and upon reaching a reasonable agreement, upon demonstration of human clinical efficacy of a Product by Licensee or its Sub - licensee (i.e., transition from Phase II to Phase III trials, which shall be indicated by enrollment of the first five patients in a pivotal Phase III trial) in at least one indication of the following indications: MAC in AIDS patients, M. tuberculosis, H. Pylori in Peptic ulcer patients, Chlamydia pneumoniae in Multiple Sclerosis or Atherosclerosis, Chlamydia trachomatis in Sexually Transmitted Disease or Community acquired pneumonia patients or Staphylococcus aureus infection.

First Milestone Payment. Upon MHLW Marketing Authorization of a ThermoDox Product for HCC in the Territory, Yakult shall pay Celsion Eighteen Million United States Dollars ($18,000,000 (US); the “First Milestone Payment”). [ * ].