Development Milestone Events. Subject to the terms and conditions of this Agreement, if Licensee exercises the TARP8 Option pursuant to Section 2.2.3 (Option Exercise), Licensee will pay to ▇▇▇▇▇▇▇ each of the applicable milestone payments set forth in the table below upon the first (1st) achievement of the applicable development milestone event of a TARP8 Product. For clarity, each development milestone payment in this Section 6.3.1.1 (Development Milestone Events) will be payable only once and will be non-refundable and non-creditable. 1 [***] $[***] 2 [***] $[***] 3 [***] $[***] 4 [***] $[***] 5 [***] $[***] 6 [***] $[***] 7 [***] $[***] 8 [***] $[***] Licensee will provide ▇▇▇▇▇▇▇ with written notice of the first achievement of each development milestone event for each TARP8 Product within [***]. Licensee will make the corresponding development milestone payments to ▇▇▇▇▇▇▇ within [***]. [***]
Appears in 2 contracts
Sources: Option and License Agreement (Rapport Therapeutics, Inc.), Option and License Agreement (Rapport Therapeutics, Inc.)