Common use of Commercial Milestones Clause in Contracts

Commercial Milestones. Buyer shall pay a non-creditable, non-refundable milestone payment for each of the milestone events set forth in this Section 3.4 (each a “Commercial Milestone”), whether the Commercial Milestone is achieved by Buyer, its Affiliates or Licensees, or any Third Party acting on behalf of Buyer, its Affiliates or Licensees. Payment for each of the Commercial Milestones shall be made only once regardless of how many times a Product achieves the corresponding Commercial Milestone, and no payment shall be due for any Commercial Milestone which is not achieved. The Commercial Milestones shall be as follows: Commercial Milestone Payment Aggregate worldwide Net Sales of Product that exceed [****] United States dollars ($[****]) based on the aggregate of all Net Sales of Product since the first commercial sale of Product [****] United States dollars ($[****]) Aggregate worldwide Net Sales of Product that exceed [****] United States dollars ($[****]) based on the aggregate of all Net Sales of Product since the first commercial sale of Product [****] United States dollars ($[****]) Aggregate worldwide Net Sales of Product that exceed [****] United States dollars ($[****]) based on the aggregate of all Net Sales of Product since the first commercial sale of Product [****] United States dollars ($[****]) Buyer shall provide Seller with written notice within sixty (60) days of Buyer becoming aware of the occurrence of any of the Commercial Milestones (which awareness shall not be deemed to occur prior to twenty (20) days following the end of the fiscal quarter in which such milestone was achieved) and the payment pertaining to such Commercial Milestone shall be made by Buyer to Seller within ninety (90) days after the end of the calendar year in which such Commercial Milestone is achieved.

Commercial Milestones. Buyer shall pay a non-creditable, non-refundable milestone payment for each of the milestone events set forth in this Section 3.4 (each a “Commercial Milestone”), whether the Commercial Milestone is achieved by Buyer, its Affiliates or Licensees, or any Third Party acting on behalf of Buyer, its Affiliates or Licensees. Payment for each of the Commercial Milestones shall be made only once regardless of how many times a Product achieves the corresponding Commercial Milestone, and no payment shall be due for any Commercial Milestone which is not achieved. The Commercial Milestones shall be as follows: Commercial Milestone Payment Aggregate worldwide Net Sales of Product that exceed [****] United States dollars ($[****]) based on the aggregate of all Net Sales of Product since the first commercial sale of Product [****] United States dollars ($[****]) Aggregate worldwide Net Sales of Product that exceed [****] United States dollars ($[****]) based on the aggregate of all Net Sales of Product since the first commercial sale of Product [****] United States dollars ($[****]) Aggregate worldwide Net Sales of Product that exceed [****] United States dollars ($[****]) based on the aggregate of all Net Sales of Product since the first commercial sale of Product Payment [****] United States dollars ($[****]) [****] United States dollars ($[****]) [****] United States dollars ($[****]) Exhibit 10.23 Buyer shall provide Seller with written notice within sixty (60) days of Buyer becoming aware of the occurrence of any of the Commercial Milestones (which awareness shall not be deemed to occur prior to twenty (20) days following the end of the fiscal quarter in which such milestone was achieved) and the payment pertaining to such Commercial Milestone shall be made by Buyer to Seller within ninety (90) days after the end of the calendar year in which such Commercial Milestone is achieved.

Commercial Milestones. Buyer shall pay a non-creditable, non-refundable milestone payment for each of the milestone events set forth in this Section 3.4 (each a “Commercial Milestone”), whether the Commercial Milestone is achieved by Buyer, its Affiliates or Licensees, or any Third Party acting on behalf of Buyer, its Affiliates or Licensees. Payment for each of the Commercial Milestones shall be made only once regardless of how many times a Product achieves the corresponding Commercial Milestone, and no payment shall be due for any Commercial Milestone which is not achieved. The Commercial Milestones shall be as follows: Commercial Milestone Payment Aggregate worldwide Net Sales of Product that exceed [****] United States dollars ($[****]) based on the aggregate of all Net Sales of Product since the first commercial sale of Product [****] United States dollars ($[****]) Aggregate worldwide Net Sales of Product that exceed [****] United States dollars ($[****]) based on the aggregate of all Net Sales of Product since the first commercial sale of Product [****] United States dollars ($[****]) Aggregate worldwide Net Sales of Product that exceed [****] United States dollars ($[****]) based on the aggregate of all Net Sales of Product since the first commercial sale of Product [****] United States dollars ($[****]) Achievement of Sales-Based Milestone Event Sales-Based Milestone Payment Buyer shall provide Seller with written notice within sixty (60) days of Buyer becoming aware of the occurrence of any of the Commercial Milestones (which awareness shall not be deemed to occur prior to twenty (20) days following the end of the fiscal quarter in which such milestone was achieved) and the payment pertaining to such Commercial Milestone, other than the Sales- Based Milestone Payment, which shall be governed by Section 3.4(a), shall be made by Buyer to Seller within ninety (90) days after the end of the calendar year in which such Commercial Milestone is achieved.”