Milestone Payments for Metabolic Indication for a Collaboration Compound Sample Clauses

Milestone Payments for Metabolic Indication for a Collaboration Compound. (i) Phase II Metabolic Study. No later than thirty (30) days following the later of the Initiation by Licensor of the first Phase II Clinical Study for a Collaboration Compound in the Metabolic Indication and Licensee’s exercise of the Collaboration Candidate Option for the Collaboration Compound that is the subject of the Phase II Clinical Study, Licensee shall pay Licensor a milestone payment equal to Fifty Million Dollars ($50,000,000). Such payment shall be noncreditable against any other payments due hereunder.