Net Sales Milestones. Licensee shall pay to Exelixis the one-time, non-refundable, non-creditable payments set forth in the table below when the aggregated Net Sales of all Products in the Licensee Territory in any period of four (4) consecutive Calendar Quarters first reach the values indicated in the table below. Once one of the values indicated in the table below is first reached and the corresponding Milestone Payment is paid by Licensee under this Section 9.4 (the “Previously Achieved Commercial Milestone”), the period of four (4) consecutive Calendar Quarters to be applied to determine the reaching of a subsequent Net Sales amount in the table below shall only start at the Calendar Quarter immediately following the fourth (4th) Calendar Quarter which served as the period to determine the reaching of the Net Sales amount triggering the Previously Achieved Commercial Milestone. For the avoidance of doubt, each payment in this Section 9.4 shall be payable once only, regardless of the number of times such milestone is subsequently achieved. Aggregate Net Sales of all Products in the Licensee Territory in any 4 consecutive Calendar Quarters Milestone Payments Equal or exceed $[ * ] $[ * ] Equal or exceed $[ * ] $[ * ] Equal or exceed $[ * ] $[ * ] Equal or exceed $[ * ] $[ * ] Equal or exceed $[ * ] $[ * ]
Appears in 3 contracts
Samples: Collaboration and License Agreement, Collaboration and License Agreement (Exelixis, Inc.), Collaboration and License Agreement (Exelixis, Inc.)
Net Sales Milestones. Licensee shall pay to Exelixis the one-time, non-refundable, non-creditable payments set forth in the table below when the aggregated Net Sales of all Products in the Licensee Territory in any period of four (4) consecutive Calendar Quarters first reach the values indicated in the table below. Once one of the values indicated in the table below is first reached and the corresponding Milestone Payment is paid by Licensee under this Section 9.4 (the “Previously Achieved Commercial Milestone”), the period of four (4) consecutive Calendar Quarters to be applied to determine the reaching of a subsequent Net Sales amount in the table below shall only start at the Calendar Quarter immediately following the fourth (4th) Calendar Quarter which served as the period to determine the reaching of the Net Sales amount triggering the Previously Achieved Commercial Milestone. For the avoidance of doubt, each payment in this Section 9.4 shall be payable once only, regardless of the number of times such milestone is subsequently achieved. Aggregate Net Sales of all Products in the Licensee Territory in any 4 consecutive Calendar Quarters Milestone Payments Equal or exceed $[ * ] 100 million $[ * ] 25 million Equal or exceed $[ * ] 250 million $[ * ] 50 million Equal or exceed $[ * ] $[ * ] Equal or exceed $[ * ] $[ * ] Equal or exceed $[ * ] $[ * ]
Appears in 1 contract
Samples: Collaboration and License Agreement (Exelixis, Inc.)
