Initial Product. Within thirty (30) days following the first occurrence of each of the events set forth below for the first Initial Product (and, as applicable pursuant to Section 4.2(b) and (c), Alternate Product), Santen shall pay to Tracon each of the non-refundable, non-creditable milestone payments set forth below when such milestone is achieved by Santen or any of its Affiliates or Sublicensees: […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] […***…] U.S.$[…***…] * If Santen […***…], Santen will notify Tracon in writing no later than sixty (60) days after the date of the […***…] whether Santen (a) will […***…] or (b) will […***…]. If such notice indicates that Santen will […***…], then such notice shall be deemed as an achievement of milestone for […***…] for the purpose of this Section 4.2(a).
Appears in 3 contracts
Sources: License Agreement (Tracon Pharmaceuticals, Inc.), License Agreement (Tracon Pharmaceuticals, Inc.), License Agreement (Tracon Pharmaceuticals Inc)