Common use of Milestone Triggering Clause in Contracts

Milestone Triggering. The milestone payments set forth in row (i) and (ii) of TABLE 8.2.3 shall be payable only once, regardless of how many times such milestone is achieved. The milestone payment in row (iii) of TABLE 8.2.3 shall be payable up to (but not more than) [**] times. However, all three milestones in TABLE 8.2.3 need not be achieved by the same Licensed Product in order to trigger Sarepta’s payment obligations. For example, [**] to a Licensed Product in [**], then Sarepta shall pay to Summit [**]. If the Parties then cease Development activities with respect to such Licensed Product before a [**] is received for such Licensed Product in [**], and [**] is then [**] in [**] with respect to a [**] Licensed Product, then Sarepta shall not be obligated to pay Summit for the acceptance of such [**]. However, if the milestone event set forth in row (ii) of TABLE 8.2.3 has not yet occurred and [**] for such [**] Licensed Product in [**], then Sarepta shall pay to Summit [**].

Milestone Triggering. The milestone payments set forth in row (i) and (ii) of TABLE 8.2.3 shall be payable only once, regardless of how many times such milestone is achieved. The milestone payment in row (iii) of TABLE 8.2.3 shall be payable up to (but not more than) [**] times. However, all three milestones in TABLE 8.2.3 need not be achieved by the same Licensed Product in order to trigger Sarepta’s payment obligations. For example, if [**] to a Licensed Product in [**], then Sarepta shall pay to Summit [**]. If the Parties then cease Development activities with respect to such Licensed Product before a [**] is received for such Licensed Product in [**], and [**] is then [**] in [**] with respect to a [**] Licensed Product, then Sarepta shall not be obligated to pay Summit for the acceptance of such [**]. However, if the milestone event set forth in row (ii) of TABLE 8.2.3 has not yet occurred and [**] for such [**] Licensed Product in [**], then Sarepta shall pay to Summit [**].