Milestone Event definition
Examples of Milestone Event in a sentence
If one or more of the Milestone Events set forth below are skipped with respect to a Licensed Product for any reason, the payment for such skipped Milestone Event will be due at the same time as the payment for the next achieved Milestone Event for a Licensed Product.
Such payment shall be due one time upon the first achievement of each Licensed Product Milestone Event.
TABLE 2.3: Regulatory Milestones Regulatory Milestone Event Regulatory Milestone Payment 1.
Company’s obligation to submit reports under this Section shall commence upon the earliest of: (a) the date of execution of the first Sublicense; (b) the date of first achievement of a Milestone Event under Section 4.1(d); and (c) a First Commercial Sale of a Licensed Product or Procedure Component, or first commercial performance of a Licensed Procedure.
Each Milestone Payment will be payable to Acuitas by Metagenomi within [***] of receipt of the Acuitas invoice for the specified Milestone Event and such payments when owed or paid will be non-creditable.