TERMS & PAYMENTS Sample Clauses
The 'Terms & Payments' clause defines the conditions under which payments are to be made between parties in a contract. It typically outlines the payment schedule, acceptable methods of payment, and any applicable deadlines or penalties for late payments. For example, it may specify that invoices are due within 30 days of receipt and detail the consequences of delayed payment. This clause ensures both parties have a clear understanding of their financial obligations, reducing the risk of disputes and promoting timely fulfillment of payment commitments.
TERMS & PAYMENTS. All payments are to be made in accordance with the agreed payment terms as set forth in the written acknowledgement from the Company for each order. Notwithstanding any other provision of this Agreement or any purchase order or written acknowledgement to the contrary, the following terms and conditions shall apply to payments for orders of LEGEND products. Standard Payment Options Include:
TERMS & PAYMENTS. Development milestones 1st dose in Phase 21st dose in Phase 3 1st occurrence[***][***] 2nd occurrence[***][***] Regulatory milestones US approvalEuropean approvalJapan approval 1st indication[***][***][***] 2nd indication[***][***][***] Commercial milestones on worldwide annual net sales [***] Royalties on worldwide annual net sales by the Sole Developing Party, Sublicensee, assignee, transferee, acquirer or their respective Affiliate [***] Each of the Development and Regulatory milestones above will be payable once per Product. However, in the event there is more than one Product for any given Research Program Target, the milestone would be paid only once and for the first Product based on the Research Program Target to achieve the milestone. Commercial milestones are payable once for each Product and determined using cumulative annual Net Sales for all Products for the respective Research Program Target. Royalty tiers are determined using Net Sales on a Product-by-Product Basis. Net Sales shall be determined in accordance with generally accepted accounting principles in the United States.
TERMS & PAYMENTS