Development Milestone Payments Clause Samples

Development Milestone Payments. Artiva shall make the following non-refundable and non-creditable development milestone payments to GCLC within [***] days after the first achievement of each applicable milestone event with respect to a Product by Artiva or its Affiliates or Sublicensees. Each such milestone payment shall be paid only once during the Term, the first time a Product reaches such milestone event and regardless of the number of times such milestone event is reached for a Product and of the number of subsequent Products reaching such milestone event. For clarification, the total milestone payments payable hereunder if all milestone events are achieved is [***].

Development Milestone Payments. Sankyo shall make the following development milestone payments to MTI (a) for [***] which achieves the milestone events set forth in the table below, in the amounts and in accordance with the table below, and (b) for [***] which achieves the milestone events set forth in the table below, in [***] the amounts and in accordance with the table below; in each case other than for Compounds which have properties, results and effects that are substantially similar to a Compound (a "Back-up Compound") for which Sankyo has previously *** Confidential Treatment Requested. made milestone payments. Sankyo shall not make milestone payments for any Back-up Compound [***] which has not gone to market, and in this instance, the only milestone payments due are [***] such Back-up Compound shall no longer be a Back-up Compound. Notwithstanding the above, if such Back-up Compound is subsequently developed in addition to the Compound it was meant to replace, all appropriate milestone payments (for those milestones which such Back-up Compound already has achieved) shall be promptly paid [***]. Milestone Achieved Payment Selection of a Compound as a Candidate Compound pursuant to Section 4.3 US$1.0 million First filing of an IND for a Licensed Compound US$2.0 million Proof of efficacy in a clinical study for a Licensed Compound US$3.5 million First filing of an NDA for a Licensed Compound [***] First approval of an NDA (or receipt of marketing approval in the U.S. or in a Primary Country) for a Licensed Compound [***] Notwithstanding the above, Sankyo shall pay to MTI US$2,000,000 within thirty (30) days after the execution of this Agreement. Such payment shall be deemed a pre-payment of development milestone payments otherwise due to MTI pursuant to this Section 7.3, and, at Sankyo's sole discretion, shall be creditable against any development milestone payments due to MTI, in whole or in part, after the execution of this Agreement in accordance with the table set forth herein above. Notwithstanding the foregoing, if, after the date hereof, the Steering Committee determines, in its sole discretion, to devote a portion of such $2,000,000 payment to supplement the research funding provided by Sankyo under this Agreement, the proceeds of such $2,000,000 payment shall be applied, first, to such supplemental research funding, and, second, in accordance with the preceding sentence.

Development Milestone Payments. 6.3.1 Avanir shall notify Concert within [**] Business Days of the occurrence of each of the following events indicated in Table 6.3.1 below as a “Development Milestone” in connection with a D-DM and Quinidine Product, (each such event a “D-DM and Quinidine Milestone Event”). Provided that Avanir has not made a D-DM Only Milestone Event Payment for the corresponding D-DM Only Milestone Event, Avanir shall pay to Concert the “Milestone Payment” set forth in Table 6.3.1 below corresponding to a D-DM and Quinidine Milestone Event within [**] days after the occurrence of such D-DM and Quinidine Milestone Event (each such payment, a “D-DM and Quinidine Milestone Event Payment”). Milestone Payment 1st Indication (in millions) Milestone Payment 1st Label Expansion (in millions) Milestone Payment Additional Label Expansion (in millions) Initial pK and Safety Milestone $ 2.0 — — Phase 2 Milestone $ 2.0 — — [**] [**] — — [**] [**] — — [**] — [**] [**] [**] [**] — — [**] [**] — — [**] — [**] [**] [**] [**] — — [**] [**] — — [**] — [**] [**] [**] [**] — — Subtotal - Development Milestones $ 27.5 $ 10.0 $ 5.5 6.3.2 Avanir shall notify Concert within [**] Business Days of the occurrence of each of the following events indicated in Table 6.3.2 below as a “Development Milestone” in connection with a D-DM Only Product, (each such event a “D-DM Only Milestone Event”). Milestone Payment 1st Indication (in millions) Milestone Payment 1st Label Expansion (in millions) Milestone Payment Additional Label Expansion (in millions) Initial pK and Safety Milestone $ 2.0 — — Phase 2 Milestone $ 6.0 — — [**] [**] — — [**] [**] — — [**] — [**] [**] [**] [**] — — [**] [**] — — [**] — [**] [**] [**] [**] — — [**] [**] — — [**] — [**] [**] [**] [**] — — Subtotal - Development Milestones $ 56.0 $ 19.0 $ 11.0 (i) If Avanir has not made a D-DM and Quinidine Milestone Event Payment for a D-DM and Quinidine Milestone Event that corresponds to a D-DM Only Milestone Event, then Avanir shall pay to Concert the “Milestone Payment” set forth in Table 6.3.2 above corresponding to a D-DM Only Milestone Event within [**] days after the occurrence of such D-DM Only Milestone Event (each such payment, a “D-DM Only Milestone Event Payment”). (ii) If Avanir has made a D-DM and Quinidine Milestone Event Payment for the corresponding D-DM and Quinidine Milestone Event and thereafter the corresponding D-DM Only Milestone is achieved, then Avanir shall only pay to Concert the difference in the “Milestone Payme...

Development Milestone Payments. Within [**] following the occurrence of the relevant events specified below with respect to the each PRODUCT, LICENSEE shall pay to KOSAN the following amounts: DEVELOPMENT MILESTONE PAYMENT --------------------- ------- [**] $[**]

Development Milestone Payments. As additional consideration for the rights granted to Indivior herein, after the achievement by Indivior of any of the milestones set forth below, Indivior shall pay Addex the applicable milestone payment set forth next to such milestone below (“Development Milestone Payments”). For the avoidance of doubt, each Development Milestone Payment shall be payable one-time only upon the first occurrence of the event triggering the respective milestone set forth in the table below. 1. [***] [***] 2. [***] [***] 3. [***] [***] 4. [***] [***] 5. [***] [***] 6. [***] [***] 7. [***] [***] 8. [***] [***] 9. [***] [***] 10. [***] [***] Total [***]

Development Milestone Payments. (a) As further partial consideration for ▇▇▇▇▇’▇ ▇▇▇▇▇ of the rights and licenses to Ipsen hereunder, Ipsen shall pay, or cause to be paid, to Sutro the following non-refundable, non-creditable milestone payments set forth in Table 7.3(a) below (each, a “Development Milestone Event”). Ipsen shall promptly (and in any event within ten (10) Business Days after achievement of each Development Milestone Event) notify Sutro in writing of the achievement of any Development Milestone Event, and Sutro shall issue Ipsen an invoice for the amount of the corresponding milestone payment, which invoice Ipsen shall pay within [*] following receipt of such invoice. Each payment for a Development Milestone Event will be payable only once, upon the first achievement of the applicable Development Milestone Event (if at all). In the event a later Development Milestone Event is first achieved before any earlier Development Milestone Event(s) are achieved, the Development Milestone Payment for any such earlier milestone(s) would be payable together with the Development Milestone Payment for the later Development Milestone Event; except that for Development Milestone Event #1 only one of the date-based milestone payments (a) to (c) will be paid, and in the event Development Milestone Event #2 [*] is not achieved, only the corresponding milestone payment for the [*] milestone shall be paid at achievement of such milestone event and the corresponding milestone payment for the [*] milestone will not be payable upon achievement of a subsequent Development Milestone Event in the Table. [*]. [*][*] [*][*] [*][*] [*] [*] [*] [*] [*] [*] [*] [*] [*] [*] [*] [*]

Development Milestone Payments. Pfizer shall make the payments set forth below within [**] days (or [**] days after [**] following the first occurrence of each event described below for a Licensed Product Covered by a Valid Claim that achieves such milestone (each event a “Development Milestone” and each payment a “Development Milestone Payment”). Development Milestone Development Milestone Payment [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**]. The Development Milestone Payment in clause (2) of this Section 3.3 may become payable as set forth in Section 4.6. Whether or not the Development Milestone in clause (2) of this Section 3.3 is achieved, the Development Milestone Payment in clause (2) shall, pursuant to Section 4.6, in all cases become payable prior to the time the Development Milestone Payment in clause (3) of this Section 3.3 becomes payable. With respect to the Development Milestone in clause (3) of this Section 3.3, in the case of a [**] that is determined to have become [**], such Development Milestone, if achieved based on such [**], shall be achieved upon [**]; provided, however, if either [**], such Development Milestone shall be deemed to have been met on the date of such determination. With respect to the Development Milestone in clause (8) of this Section 3.3, such Development Milestone will be paid in [**], provided that if such Licensed Product [**]. (For the avoidance of doubt, all payment [**] that became payable prior to such [**] shall continue to be payable and there shall be [**] of the [**] Development Milestone Payment will be deemed to have been achieved and payable on [**], and will be paid by Pfizer within [**] days thereafter, until the earlier of [**]. For example, [**] of such Development Milestone, such Development Milestone Payment would be paid [**] of the Development Milestone [**]. For the avoidance of doubt: (a) except for (i) the Development Milestone Payment set forth in clause (6) of this Section 3.3 [**], (ii) the Development Milestone Payment set forth in clause (8) of this Section 3.3 [**] and (iii) the Development Milestone Payment set forth in clause (9) of this Section 3.3 [**], each Development Milestone Payment shall be payable only once upon achievement of the applicable Development Milestone and only on the first occurrence of the corresponding Development Milestone regardless of the number of Licensed Products and (b) satisfaction of a Development Milestone by an Affiliate or by a subli...

Development Milestone Payments. In partial consideration for the rights and licenses granted to Coya hereunder, within ten days after the first achievement of each milestone event in a given Indication set forth in this Section 5.2 (Development Milestone Payments) with respect to a Product (each, a “Development Milestone Event”) by or on behalf of Coya or any of its Affiliates or Sublicensees, Coya shall provide ARScience Bio written notice to ARScience Bio identifying the Development Milestone Event achieved. Upon receipt of any such notice of first achievement of a Development Milestone Event by Coya or its Affiliates or Sublicensees, ARScience Bio will promptly invoice Coya for the applicable Development Milestone Event and Coya will make a milestone payment to ARScience Bio in the amount set forth in this Section 5.2 (Development Milestone Payments) corresponding to such Development Milestone Event (each, a “Development Milestone Payment”) within 45 days of receipt of such invoice. On an Indication-by-Indication basis, each Development Milestone Payment shall be payable only upon the first achievement of the corresponding Development Milestone Event by a Product, in any given Indication for which the Development Milestone Events have not been previously achieved (each such Indication, a “New Indication”). No amounts shall be due for subsequent or repeated achievements of such Development Milestone Event with respect to the same or different Mono Product or Combination Product, as applicable, in such Indication. Accordingly and for clarity, the Development Milestone Payment shall be paid only once, when first achieved by Coya, an Affiliate or a Sublicensee, but no payment shall be due if the same milestone is subsequently achieved by one of Coya, an Affiliate or a Sublicensee. For clarity, the amounts owed in Column (a) below shall be due for the first Combination Product to achieve the Development Milestone Events in a New Indication and the amounts owned in Column (c) below shall be due for the first Mono Product to achieve the Development Milestone Events in a New Indication. Any Combination Product or Mono Product to achieve the Development Milestone Events in a New Indication after the first achievement of the Development Milestone Events as described in the foregoing sentence will cause the amounts in Column (b) with respect to a Combination Product and Column (d) with respect to a Mono Product to be due and payable by Coya upon each such occurrence. If the first Product to achi...

Development Milestone Payments. In the event that the Company, Sublicensees, or their Affiliates (collectively “Developer”) develops a Product for commercial sale in the Territory, the following nonrefundable, non-recoverable and non-creditable milestone payments shall be made by Company to Columbia with respect to the first Product as follows: [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] The above milestone payment shall be paid on the first Product and first indication only.