Single Milestone Payment Clause Samples
The Single Milestone Payment clause establishes that payment for goods or services will be made in one lump sum upon the completion of a specified milestone or deliverable. In practice, this means the client or buyer is required to pay the full agreed amount only after the contractor or seller has fulfilled a particular project phase or delivered a defined output, such as the final product or a completed service. This clause simplifies the payment process and ensures that the payee is compensated only after meeting clear performance criteria, thereby reducing administrative complexity and aligning payment with successful delivery.
Single Milestone Payment. For purposes of clarity, KHK shall make a milestone payment corresponding to each of the foregoing milestone events only once per Licensed Product under Section 7.4.1, regardless of the number of times such milestone event occurs for such Licensed Product.
Single Milestone Payment. With respect to each set of milestone payments to be made hereunder, only one set shall ever be due and payable, regardless of the number of Licensed Products developed, approved or cleared, or sold, or whether a Licensed Product is discontinued after a milestone payment has been made. All milestone payments payable hereunder are non-refundable and non-creditable against any other payments hereunder.
Single Milestone Payment. 4.5.1. With respect to the Milestone Events set forth in Section 4.3.2 (a) and (b), only one payment shall ever be due and payable with respect to the occurrence of each milestone for the first [***] that achieves such milestone, provided, however, that such milestone payments shall be due subject to the maximum payment provision of Section 4.6, and the true-up provision of Section 4.7. *** Certain information in this agreement has been omitted and filed separately with the Securities and Exchange Commission. [***] indicates that text has been omitted and is the subject of a confidential treatment request.
4.5.2. With respect to the Milestone Events set forth in Sections 4.3.2 (c), (d), and (e), for each Licensed Product, a milestone payment shall be due for [***] as set forth in Sections 4.3.2 (c), (d), and (e). Such payment shall be non-refundable and shall not be creditable against any other amount due to Genentech pursuant to this Agreement. For clarity, a payment under any particular Milestone Event in Sections 4.3.2 (c), (d), or (e) for [***] does not relieve Denali of the obligation to pay that milestone payment for [***], and vice versa, and as such, Denali shall pay each milestone for each [***].
Single Milestone Payment. Each of the milestone payments set forth in Section 4.3 shall be payable only once and only for the first Licensed Product to achieve such milestone, regardless of how many times the corresponding milestone is achieved, and no milestone payment shall be paid for a milestone that is not achieved; provided, however, that if, after the first achievement of a milestone event specified in Section 4.3.1, 4.3.2 or 4.3.3 by the first Licensed Product to achieve such milestone event (the “First Product”), a different Licensed Product – i.e., a Licensed Product having a different formulation than such first Licensed Product (a “New Product”) receives Marketing Approval in the same jurisdiction (i.e., United States, EU or Japan) for a Separate Indication (defined below), then, within [**] days of the First Commercial Sale of such New Product after receipt of Marketing Approval for such Separate Indication in such jurisdiction, Curis shall pay to Genentech a one-time milestone payment in an amount equal to [**] percent ([**]%) of the applicable milestone payment paid for the first achievement of that milestone event by the First Product. For purposes of this Section 4.4, “Separate Indication” means, with respect to a New Product in a particular jurisdiction, an Indication other than any Indication for which the First Product has received Marketing Approval in such jurisdiction. For the avoidance of doubt, the maximum amount payable with respect to each of the milestone events set forth Sections 4.3.1, 4.3.2 and 4.3.3 equals [**] percent ([**]%) of the corresponding milestone payment set forth in such Section, and the maximum aggregate amount payable with respect to all such milestone events in the aggregate is [**] dollars (U.S. $[**]); in each case, regardless of the number of Licensed Products that achieve any milestone event or the number of Indications for which any Licensed Product may receive Marketing Approval.
Single Milestone Payment. With respect to the Milestone Event, only one payment shall ever be due and payable with respect to the occurrence of the milestone. For the avoidance of doubt, a maximum of only one payment of XXXX will be made under Section 4.2. Such payment shall be non-refundable and shall not be creditable against any other amount due to Genentech pursuant to this Agreement.
Single Milestone Payment. With respect to each set of milestone payments to be made under this Agreement, only one set shall ever be due and payable, regardless of the number of Products developed, or the number of indications pursued or approved or whether a Product is PORTIONS OF THIS EXHIBIT WERE OMITTED AND HAVE BEEN FILED SEPARATELY WITH THE SECRETARY OF THE COMMISSION PURSUANT TO THE COMPANY'S APPLICATION REQUESTING CONFIDENTIAL TREATMENT UNDER RULE 24B-2 OF THE EXCHANGE ACT. discontinued after a milestone payment has been made. Milestone payments due under Section 9.5 or 9.6 shall only by due on those Products Covered by a Valid Claim within the Altus Patent Rights or Valid Claim of Patent Rights within Joint Collaboration Technology, or which uses or embodies Altus Know-How.
Single Milestone Payment. In no event shall a particular Milestone Payment be due to Sangamo more than once with respect to a given Licensed Product, even if such Licensed Product contains more than one (1) protein expressed by a Modified Cell Line or is Covered by more than one Valid Claim.