Milestone Payment Terms Clause Samples
The milestone payment terms clause defines how and when payments will be made based on the completion of specific project milestones. Under this clause, the total contract price is divided into segments, with each payment released only after the contractor or service provider achieves a predefined deliverable or stage of work, such as submitting a report or completing a phase of development. This structure ensures that payments are tied to measurable progress, reducing financial risk for the client and incentivizing timely performance by the provider.
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Milestone Payment Terms. Each milestone payment shall be due and payable within [*****] after the receipt of the respective invoice by Genmab. Notwithstanding the foregoing, each sales milestone payment shall be paid together with the royalty payments for the Calendar Quarter during which the respective milestone has been achieved.
Milestone Payment Terms. Each milestone payment shall be due and payable within [*****] after the receipt of the respective invoice by GSK. Notwithstanding the foregoing, each Sales Milestone Payment shall be paid together with the royalty payments for the Calendar Quarter during which the respective milestone has been achieved.
Milestone Payment Terms. Rayze shall notify Nimble in writing promptly, but in no event later than [***] after each achievement of each milestone set out in Sections 5.5, 5.6, 5.7, or 5.8 and within [***] after the close of each Calendar Quarter in which a milestone has been achieved in Sections 5.9 or 5.10 that triggers a payment. Thereafter, Nimble shall submit an invoice to Rayze for the applicable milestone payment. Rayze shall pay all such milestone payments due in Dollars within [***] following ▇▇▇▇▇’s receipt of an invoice from Nimble therefor following the achievement of the corresponding milestone event.
Milestone Payment Terms. (a) Company shall notify Licensor in writing within [*] days following the achievement of each milestone event set forth in Section 4.2.1, and shall make the appropriate milestone payment within [*] days after the achievement of such milestone event.
(b) The milestone payments set forth in Section 4.2.1 shall be payable one time only. In no event will any milestone payment be paid more than once, even if additional Licensed Products subsequently achieve the same milestone.
(c) If for whatever reason a milestone payment under this Section 4.2 is not paid for any Licensed Product and the subsequent milestone is achieved for that or another Licensed Product, then both the first and the second milestone payments shall be payable at the time the second milestone payment becomes payable. - 11 - *Confidential Treatment Requested. Execution Copy
Milestone Payment Terms. All the above Development Milestone payments (specified in Section 7.4.1) are:
Milestone Payment Terms. With respect to the Licensed Program, upon achievement by or on behalf of Celgene, its Affiliates or Sublicensees of any milestone event set forth in Paragraph 2 or 3 of Exhibit C-1, C-2 or C-3, as applicable, Celgene shall promptly (but in no event more than [***] after achievement thereof) notify OncoMed of such achievement, and Celgene shall pay OncoMed the corresponding milestone payment within [***] after issuance by OncoMed of an invoice for such milestone payment. For clarity, Celgene only shall be obligated to make a milestone payment corresponding to each of the events set forth in Paragraph 2 or 3 of Exhibit C-1, C-2 or C-3, as applicable[***].
Milestone Payment Terms. Arcutis shall notify Hengrui in writing within fifteen (15) Business Days following the achievement of each milestone event set forth in Section 5.1, and, except as noted below, shall make the appropriate milestone payment in Dollars by wire transfer to a bank designated in writing by Hengrui, within sixty (60) days after the achievement of such milestone event. Each milestone payment stated in the table in Section 5.1 shall be paid no more than once under this Agreement, regardless of whether or not similar achievements) are thereafter made for the same or one or more other Licensed Products. [***]
Milestone Payment Terms. Each milestone payment shall be due and payable within [*****] after the receipt of the respective Invoice by BI. Notwithstanding the foregoing, each sales milestone payment shall be paid together with the royalty payments of the Calendar Quarter during which the respective milestone has been achieved.
Milestone Payment Terms. Upon achievement by OncoMed of the [***] Criteria (and verification by Celgene thereof, if and to the extent permissible, without [***], and in any event within [***]), Celgene shall pay OncoMed the milestone payment within [***] after issuance by OncoMed of an invoice for such milestone payment. For clarity, Celgene only shall be obligated to make a milestone payment corresponding to the event in Section 6.6.1 [***].
Milestone Payment Terms. All the above Development Milestone payments (specified in Subsection 7.4.2.2) are:
(c) Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed.