Milestone Event Sample Clauses
A Milestone Event clause defines specific, measurable points or achievements within a project or contract that trigger certain obligations, payments, or actions. Typically, this clause outlines what constitutes a milestone, such as the completion of a project phase, delivery of a product component, or achievement of a performance target, and specifies the consequences or next steps upon reaching each milestone. Its core practical function is to structure the progression of work and related payments or responsibilities, ensuring both parties have clear expectations and reducing the risk of disputes over project progress or deliverables.
Milestone Event. Milestone Payment
Milestone Event. The Milestone Event having occurred;
Milestone Event. Upon the earliest to occur of (i) dosing of the first patient in the first Pivotal Clinical Trial initiated by Buyer or its Affiliates, a licensee with respect to any Product, or any other Person that has been granted or received a right to develop, manufacture, commercialize or otherwise exploit a Product, whether such rights are obtained by assignment, license, sublicense, or any other grant or transfer of rights (each, a “Milestone Party”), (ii) a Milestone Party applies for an accelerated approval pursuant to the FDA’s Accelerated Approval Program, or (iii) a Milestone Party submits a marketing application for Regulatory Approval for a Product (such occurrence, the “Milestone Event”), Buyer shall be obligated to pay Seller the Contingent Payment. For the avoidance of doubt, the Milestone Event may be achieved only once hereunder and the Contingent Payment shall be payable only once.
Milestone Event. Subject to the remainder of this Section 6.6, on a Product-by-Product basis, Gilead shall pay Merus the following one-time, non-refundable, non-creditable milestone payments upon the first time the annual aggregate worldwide Net Sales of such Product reach the corresponding threshold value in a Calendar Year: 1) [***] [***] [***] [***] 2) [***] [***] [***] [***] 301144389 v2 3) [***] [***] [***] [***] 4) [***] [***] [***] [***] Total [***] [***] [***]
Milestone Event. Option Shares 1) Reaching break-even for a calendar quarter 1,000,000
Milestone Event. Upon a Cyclacel Drug Candidate achieving first commercial Sale [***] for a Study Indication described in Study Work Order or Appendix I (this Milestone Payment will be paid up to four times); · Upon a Cyclacel Drug Candidate achieving first commercial Sale [***] for a Study Indication described in Study Work Order or Appendix I (this Milestone Payment will be paid up to four times); · Upon a Cyclacel Drug Candidate achieving first commercial Sale [***] for a Study Indication described in Study Work Order or Appendix I (this Milestone Payment will be paid up to four times); · Cumulative $[***] in Sales of either or all Cyclacel Drug Candidates for Study Indications described in Study Work Order or Appendix I; · Cumulative $[***] in Sales of either or all Cyclacel Drug Candidates for Study Indications described in Study Work Order or Appendix I; · Cumulative $[***] in Sales of either or all Cyclacel Drug Candidates for Study Indications described in Study Work Order or Appendix I.
Milestone Event. [*]+ [*]+ [*] *+ * If [*] is [*] for the [*], but Portola decides [*] in [*] or [*], then the milestone shall be [*] the [*] for such [*] in the [*]. + Each milestone set forth above is intended to be paid only once. Additionally, each such amount shall become due upon the occurrence of the event specified, except as follows: For the purpose of this paragraph, [*], and [*], because each of such [*] the other [*] whether it is [*] or [*] that is [*]. If Portola first achieves any of [*] before achieving the [*], then upon either the next achievement of such milestone [*], whichever first occurs, the amount due upon achievement of the [*] shall become due. For example, if [*] for [*], and [*] for [*], then within [*] after [*] Portola shall pay to Millennium [*] and within [*] after [*] Portola shall pay to Millennium [*]. In no event shall Portola owe Millennium more than a total of $35 million pursuant to this Section 3.2.
Milestone Event. Millipore meeting being scheduled for May 2008. Millipore has conducted due diligence regarding AutovaxID and has requested a meeting with Biovest to discuss a business/license agreement for AutovaxID.
Milestone Event. Subject to the remainder of this Section 5.1, Licensee shall pay to Licensor a one-time, non-refundable development milestone payment of Twenty Five Million Dollars ($25,000,000) upon the first MAA approval for a BION-1301 Licensed Product by the NMPA (the “BION-1301 Approval Milestone”). The BION-1301 Approval Milestone shall be due and payable (i) irrespective of whether such milestone event is achieved by Licensee, its Affiliates or sublicensee and (ii) only if the milestone event is achieved in mainland China. The BION-1301 Approval Milestone is payable only once, regardless of how many times such milestone event is achieved and/or the number of BION-1301 Licensed Products that achieve such milestone event.
Milestone Event. Cephalon meeting is being scheduled for May 2008. Cephalon has conducted due diligence regarding BiovaxID and has requested a meeting with Biovest based on the DMC press release to discuss a business/license agreement for BiovaxID.