Milestone Payment 3 definition
Examples of Milestone Payment 3 in a sentence
If Research Regulatory Event (3) for a given Research Compound is achieved without triggering Research Compound Milestone Payment (2) for the same Research Compound, then PFIZER shall pay to ▇▇▇▇▇ both Research Compound Milestone Payments (2) and (3) on the date that Research Compound Milestone Payment (3) is due for such Research Compound.
Collectively Milestone Payment 1, Milestone Payment 2, Milestone Payment 3, Milestones Payment 4 and Milestone Payment 5 are referred to herein as “Milestone Payments”.
In the event that a particular milestone event set forth above was not achieved by a Product, but a subsequent milestone event is achieved by a Product (i.e., [*]), the payment associated with earlier milestone(s) would nonetheless be owed to Amgen in full at the same time as BioAge’s payment for achievement of the subsequent milestone event; provided that Milestone Payment #3 would only be due upon the earlier of achievement of milestone #3 or milestone #5 (i.e. [*]).
Development Milestone Event Milestone Payment 1 [*] [*] 2 [*] [*] 3 [*] [*] If, [*], then (i) Milestone Payment 2 set forth above will become payable [*], and (ii) Milestone Payment 3 set forth above will become payable upon [*].
Total Project Costs (100%) Milestone Payment 1 - Acceptance of Project Plan (30%) $24,736.50 Milestone Payment 2 - Acceptance of Business Design Document (30%) $24,736.50 Milestone Payment 3 –Acknowledgement of Start of User Acceptance $24,736.50 Testing (30%) Milestone Payment 4 - Final Acceptance (10%) $8,245.50 SBC GLOBAL SERVICES, INC.