Development and Commercialization Milestone Payments. Subject to the terms and conditions of this Agreement and in further consideration for the license granted herein, Licensee shall make each of the following one-time, non-refundable, non-creditable milestone payments to Lilly for the first Licensed Product to achieve such milestone: The earlier of: (i) filing and acceptance of an NDA or equivalent for a Licensed Product in the United States $[**] NDA approval for a Licensed Product in the United States $[**] NDA approval or equivalent for a Licensed Product by the European Medicines Agency or in any Major European Country $[**] NDA approval or equivalent for a Licensed Product in Japan $[**] First Commercial Sale of a Licensed Product in the United States $[**] First Commercial Sale of a Licensed Product in a Major European Country $[**] First Commercial Sale of a Licensed Product in Japan $[**]
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Sources: Exclusive Patent and Know How License Agreement (Cerecor Inc.), Exclusive Patent and Know How License Agreement (Cerecor Inc.)
Development and Commercialization Milestone Payments. Subject to the terms and conditions of this Agreement and in further consideration for the license granted herein, Licensee shall make each of the following one-time, non-refundable, non-creditable milestone payments to Lilly for the first Licensed Product to achieve such milestone: Milestone Event Amount Due The earlier of: (i) filing and acceptance of an NDA or equivalent for a Licensed Product in the United States $[**] NDA approval for a Licensed Product in the United States $[**] NDA approval or equivalent for a Licensed Product by the European Medicines Agency or in any Major European Country $[**] NDA approval or equivalent for a Licensed Product in Japan $[**] First Commercial Sale of a Licensed Product in the United States $[**] First Commercial Sale of a Licensed Product in a Major European Country $[**] First Commercial Sale of a Licensed Product in Japan $[**]
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