Milestone definition
Examples of Milestone in a sentence
Each Milestone Payment shall be paid no more than once per Damora Product for a given Research Program, and ▇▇▇▇▇▇’▇ total Milestone Payments hereunder per Damora Product (together with any such Milestone Payments per each such Damora Product achieved and payable pursuant to a subsequently executed License Agreement with respect to such Research Program) shall not exceed Twenty-Two Million Dollars ($22,000,000).
Alterra shall invoice Licensee for each License Fee Installment upon the achievement of the correlating Payment Milestone.
Following receipt of such notice, Paragon shall invoice Damora for such Milestone Payment, which invoice shall specify the bank account information into which such Milestone Payment should be paid.
Damora shall, within [***] after it or its Affiliates achieve a Milestone, or within [***] after it learns that its Affiliate’s sublicensee has achieved a Milestone, notify Paragon of the achievement of such Milestone [***].
Additionally, for the avoidance of doubt, if a Milestone with respect to a Damora Product is achieved and paid by Damora pursuant to this Agreement, then there shall be no Milestone Payment due for the achievement of such Milestone for such Damora Product under a subsequently executed License Agreement for the applicable Research Program, notwithstanding the inclusion of the same Milestone in Exhibit B or Exhibit C (as applicable) hereto or in such License Agreement.