Milestone 5 definition

Milestone 5 means the achievement of worldwide aggregate Net Sales of the Product (inclusive of all Indications) of at least two hundred fifty million U.S. dollars ($250,000,000), calculated on a cumulative basis for all Calendar Years (or portion thereof), provided that Milestone 3 is achieved by or before December 31, 2030.

Milestone 5 means FDA approval of a NDA for FX301.

Milestone 5 has the meaning provided in the Project Agreement.

Examples of Milestone 5 in a sentence

• Licensee shall launch a research and development program for the licensed therapeutic rights pursuant to the therapeutic milestone events and fees outlined below, unless Licensee executes a Sublicense Agreement as set forth in Milestone 5 in section 2.4 above.

• Distribution of Withdrawal Penalty revenue associated with Readiness Milestone 5 shall not be distributed to the remaining customers in that cluster until all customers in that cluster have reached Commercial Operation and thereafter shall be distributed as described above.

• These milestones are:• Milestone 1: Program Admission• Milestone 2: Involved Learner Review• Milestone 3: Effective Practitioner Review• Milestone 4: Authentic Professional Review• Milestone 5: Clinical Practice/Student Teaching Admission• Milestone 6: Clinical Practice/Student Teaching Exit• Milestone 7: Graduation Specific dates, deadlines, and competencies for each milestone are detailed in the M.A.T. Candidate Handbook.

• Should Licensee not execute a Sublicense Agreement as set forth in Milestone 5, Licensee shall pay a fee of *** to the Licensor and provide a detailed Commercialization Plan for the licensed therapeutic rights to Licensor within forty-five days of the Deadline for Milestone 5.

• To date, the Company has incurred costs of approximately Cdn $6.6 million towards Milestone 4, Cdn $4.2 million towards Milestone 5 and Cdn $2.4 million towards Milestone 6, of which $142 was recognized for milestone 5 during the quarter ended December 31, 2014 under this grant and $200 was recognized for milestone 6 during the quarter ended March 31, 2016.

More Definitions of Milestone 5

Milestone 5. [ ]* [ ]* Milestone 6: [ ]* [ ]*. Each milestone is independent, so that the achievement of any one milestone with respect to a Research Compound or Product does not require payment of lower numbered unachieved milestones with respect to that Compound or Product.

Milestone 5 means cumulative Net Sales of the Product Candidate exceeding three hundred million dollars ($300,000,000), inclusive of Milestone #4, but only if the foregoing Milestone is achieved no later than the Milestone Target Date.

Milestone 5 shall have the meaning as defined in SECTION 4.2(v).

Milestone 5 shall be demonstrat:4 on by BIOTHERAPIES (to MICHIGAN's reasonable satisfaction) of the commencement o.f FDA Phase III clinical trials ---- for a theraoeutic Product. The following ~s the milestone achievement schedule. BIOTHERAPIES shall achieve demonstration of the milestones by -the dates set out below, and, upon any failure to do so, MICH7GAN may az Jts option terminate ~his-Agreement and the license rights conveyed herein:

Milestone 5. For New South Wales, Victoria and South Australia only, the State has provided a brief description of supply measure projects for which feasibility and business cases are being developed for consideration under the SDL adjustment mechanism

Milestone 5. If the Consumer Business Unit records $75 million in revenue for calendar 2023, the CVR Payment Amount for this Milestone will be $2,500,000 (as such amount may be adjusted pursuant to the Riders below). If the Consumer Business Unit achieves profitability from operations for calendar 2023, then the CVR Payment Amount for this Milestone will be increased by $2,500,000 (as such amount may be adjusted pursuant to the Riders below).

Milestone 5. [†]: [†] Dollars ($[†])