Milestone definition
Examples of Milestone in a sentence
Further, each Milestone Event will be deemed to be achieved by a Licensed Product for the first Indication to achieve such Milestone Event regardless of whether a prior Milestone Event was achieved by a Licensed Product in a different Indication.
Each Sales Milestone Payment shall be in accordance with the procedure set forth in Section 7.3.3 (Notice of Event Milestone Achievement).
For all Tax purposes, the Regulatory Milestone Payment made by Buyer or the Company shall be considered an adjustment to the Purchase Price unless there is no reasonable basis for making such adjustment under the applicable Tax Law.
In addition, on or prior to the Closing Date, Purchaser shall deposit, or shall cause to be deposited, with Efficiency or an agreed-upon depositary bank, as applicable, the Milestone Escrow Shares, to be held and released in accordance with this Agreement and the Escrow Agreement.
If the Milestone Event for Initiation of a Phase 2 Trial for a Licensed Product set forth in Section 7.3.1(a) or Section 7.3.1(b) has failed to be achieved and BMS (or any of its Affiliates or Sublicensees) achieves the Initiation of a Registrational Trial, then such Milestone Event shall be deemed achieved and BMS shall pay to Avidity the Milestone Payment corresponding to Initiation of the Phase 2 Trial for a Licensed Product set forth in Section 7.3.1(a) or Section 7.3.1(b), as applicable.