Trap-2 Clause Samples
Trap-2. Upon the first occurrence of each of the events set forth below, Novartis shall pay to Regeneron the corresponding amount set forth below: -------------------------------------------------------- Milestone --------- Milestone Event Payment --------------- ------- -------------------------------------------------------- [***********************] [**********] -------------------------------------------------------- Schedule 6 Page 2 [*********************] [**********] -------------------------------------------------------- [********************] [**********] -------------------------------------------------------- For the avoidance of doubt, each of the above milestones will be payable only once, but may occur in the same year. PRINCIPLES IN DETERMINING COGS: (SEE SECTION 8.2(a)) [******************************************************** ********************************************************* *********************************************************] Non-binding example of the cost pricing details for the processing of Trap-1 [**********************************************************] SCHEDULE 8 Preliminary Development Plan IL-1 TRAP PRELIMINARY DEVELOPMENT PLAN [******************************************************************************* ******************************************************************************** ******************************************************************************** *******************************************************************************] SCHEDULE 9 First Consolidated Co-Development Budget ($ IN MM) [* * * * * * *] IL-1 TRAP - R&D SUPPORT - PRELIMINARY OUTSIDE EXPENSES ($ IN MM) [* * * * * * *] SCHEDULE 10 Non-Distributor Countries (See Sections 4.1, 4.3 and 6.1) [*****************] SCHEDULE 11 Regulatory Tasks To Be Conducted By Novartis in U.S. For Trap-1 and Trap-2
Trap-2. The Parties will each be responsible for fifty percent (50%) of the aggregate Development Costs for the Trap-2 Product in the Co-Commercialization Countries in the Trap-2 Territory. In the event that a Party has incurred less than its applicable percentage share of such Development Costs for an applicable calendar quarter, then, pursuant to Section 9.2(a), such Party shall reimburse the other Party in such amount as is necessary to result in each Party bearing its applicable share of such Development Costs for such calendar quarter. SCHEDULE 5 Failure to Perform Details (see Section 6.10 (e)) If a Party fails to actually perform committed Details, then the penalty will be calculated as a multiple of the costs associated with the missed details. The multiplying factor is calculated as follows: [*********************************************************************] The Party which has failed to perform committed Details will have the opportunity to cure the shortfall in the next quarter and thereby avoid or reduce, as applicable, the penalty that would otherwise apply. Milestone Payments (see Section 9.4(b))
1. Trap-1. Upon the first occurrence of each of the events set forth below, Novartis shall pay to Regeneron the corresponding amount set forth below: -------------------------------------------------------- Milestone --------- Milestone Event Payment --------------- ------- -------------------------------------------------------- [****************************] [********] -------------------------------------------------------- [****************************] [********] -------------------------------------------------------- [****************************] [**********] -------------------------------------------------------- [***************************] [**********] -------------------------------------------------------- For the avoidance of doubt, each of the above milestones will be payable only once, but may occur in the same year.