Common use of Development Milestone Payment Clause in Contracts

Development Milestone Payment. (a) Licensee shall make the non-refundable, non-creditable milestone payments to Tetraphase set forth in the table below, each payable once only, no later than [**] days after the earliest date on which the corresponding milestone event has first been achieved by any Licensee Entity with respect to the first Licensed Product to achieve such milestone event. [**] [**] [**] [**] [**] [**] [**] [**] (b) If Licensee has not paid to Tetraphase a milestone payment set forth in a row in the table in Section 8.02(a), and a milestone event set forth in a later row in the table in Section 8.02(a) occurs, then, upon the occurrence of such milestone event set forth in such later row, Licensee shall pay to Tetraphase the milestone payment set forth in such earlier row. By way of example and not limitation, if Licensee has not paid to Tetraphase the milestone payment set forth in row (a)(i), and the milestone event set forth in row (a)(ii), (a)(iii) or (a)(iv) occurs, then, upon such event, Licensee shall pay to Tetraphase the milestone payment set forth in row (a)(i). (c) Upon achievement by any Licensee Entity of any of the milestone events listed above, Licensee shall promptly (but in no event more than [**] days after such achievement) notify Tetraphase of such achievement.