Milestone Events Clause Samples
The Milestone Events clause defines specific points or achievements within a project or contract that trigger certain obligations, payments, or actions. Typically, these milestones are tied to the completion of key deliverables, such as submitting a report, reaching a development phase, or obtaining regulatory approval. By clearly outlining these events, the clause ensures that both parties have a shared understanding of progress expectations and when responsibilities or payments are due, thereby reducing ambiguity and helping to manage project timelines and accountability.
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Milestone Events. Event Payment
Milestone Events. (i) From and after the Closing until the fifth anniversary of the Closing Date (the “Calculation Period”), in the event that over any fifteen (15) Trading Days within any thirty (30)-Trading Day period during the Calculation Period the daily VWAP of the shares of Parent Class A Common Stock is greater than or equal to US$12.50 per share (subject to any adjustment pursuant to Section 3(f)) (the “First Milestone Event”), promptly (but in any event within ten (10) Business Days) after the occurrence of the First Milestone Event, the Investor shall be entitled to earn one-third of their Incentive Shares (the “First Third”), as defined by the Incentive Share Ratio, (subject to any adjustment pursuant to Section 3(f)) as additional consideration for the Equity Financing (and without the need for additional consideration from any Company Stockholder).
(ii) In the event that over any fifteen (15) Trading Days within any thirty (30)-Trading Day period during the Calculation Period the daily VWAP of the shares of Parent Class A Common Stock is greater than or equal to US$15.00 per share (subject to any adjustment pursuant to Section 3.7(f)) (the “Second Milestone Event”), promptly (but in any event within ten (10) Business Days) after the occurrence of the Second Milestone Event, the Investor shall be entitled to earn one-third of their Incentive Shares (the “Second Third”), as defined by the Incentive Share Ratio, (subject to any adjustment pursuant to Section 3(f)) as additional consideration for the Equity Financing (and without the need for additional consideration from any Company Stockholder).
(iii) In the event that over any fifteen (15) Trading Days within any thirty (30)-Trading Day period during the Calculation Period the daily VWAP of the shares of Parent Class A Common Stock is greater than or equal to US$17.50 per share (subject to any adjustment pursuant to Section 3.7(e)) (the “Third Milestone Event” and, together with the First Milestone Event and Second Milestone Event, each a “Milestone Event” and together, the “Milestone Events”), promptly (but in any event within ten (10) Business Days) after the occurrence of the Third Milestone Event, the Investor shall be entitled to earn one-third of their Incentive Shares (the “Final Third”), as defined by the Incentive Share Ratio, (subject to any adjustment pursuant to Section 3(f)) as additional consideration for the Equity Financing (and without the need for additional consideration from any Company Stoc...
Milestone Events. Subject to the remainder of this Section 4.2, Licensee shall pay to Licensor the following one time (for each Product), non-refundable sales milestone payments set forth in the table below when the aggregated annual Net Sales of each Product sold in the Territory in a calendar year first reach the corresponding threshold value indicated below. 1) Equal or exceed $ [***] $ [***] 2) Equal or exceed $ [***] $ [***] 3) Equal or exceed $ [***] $ [***]
Milestone Events. Subject to the remainder of this Section 4.1, Licensee shall pay to Licensor the following one time (for each Product), non-refundable development milestone payments set forth in the table below upon the first achievement of the corresponding milestone event for each Product:
1) [***] $ [***]
2) [***] $ [***]
3) [***] $ [***]
4) [***] $ [***] 5) [***] $ [***]
Milestone Events. Subject to Section 4.2(b) (Maximum Milestone Payments) and Section 4.2(c) (Catch-Up Payments), Arsanis shall report in writing to Adimab the first achievement of each event set forth in the table below (each, a “Milestone Event”) by (i) the first Product (excluding any Companion Diagnostic) to achieve such Milestone Event (“First Product”) and (ii) the first Product (excluding any Companion Diagnostic) containing or incorporating a Licensed Antibody other than the Licensed Antibody contained or incorporated in the First Product (“Second Product”), and, in each case, pay the corresponding milestone payment set forth in the table below (each, a “Milestone Payment”) to Adimab, each within [**] days after the first achievement of the corresponding Milestone Event by such Product:
Milestone Events. Alexion shall provide written notice to Xencor within ten business days following the first occurrence of each of the milestone events set forth below with respect to a Product (in the case of Section 5.5.1(i)) or Licensed Product (whether such milestone is achieved by Alexion or any Affiliate or Sublicensee) for which a milestone payment is or may be due hereunder ([…***…]). Subject to Section 5.5.3 below, within thirty days after the provision of such notice by Alexion, Alexion shall pay to Xencor the corresponding non-refundable, non-creditable milestone payment set forth below:
(i) […***…] US$ […***…] (ii) […***…] US$ […***…] (iii) […***…] US$ […***…] (iv) […***…] US$ […***…] (v) […***…] US$ […***…] (vi) […***…] US$ […***…] (vii) […***…] US$ […***…]
(viii) […***…] US$ […***…] (ix) […***…] US$ […***…] (x) […***…] US$ […***…] (xi) […***…] US$ […***…]
Milestone Events. ▇▇▇▇▇▇▇ shall make the non-refundable, non-creditable payments (each, a “Milestone Payment”) to Legend set forth in the table below not later than [***] after Legend delivers an invoice to ▇▇▇▇▇▇▇ upon the first occurrence of the corresponding milestone event set forth below (each, a “Milestone Event”), subject to Sections 7.2.2 through 7.2.8 below. ▇▇▇▇▇▇▇ shall provide notice to Legend within [***] after ▇▇▇▇▇▇▇’▇ or its Affiliates’ achievement of any of the Milestone Events.
Milestone Events. Upon the occurrence of each of the events (each, a “Milestone Event”) set forth in the table below (the “Milestone Table”), Purchaser shall pay to Seller the corresponding amount set forth opposite such Milestone Event in the Milestone Table (each such payment, a “Milestone Payment”, and collectively, the “Milestone Consideration”) in accordance with Section 1.03(b) below. Milestone Events (i)(A) through (and including) (i)(E) set forth in the Milestone Table are referred to in this Agreement as “Regulatory Milestone Events” and Milestone Event (ii)(A) set forth in the Milestone Table below is referred to in this Agreement as the “[***] Milestone Event”. Payment in respect of the [***] Milestone Event is referred to in this Agreement as the “[***] Milestone Payment”.
Milestone Events. [...***...] [...***...] [...***...] [...***...] [...***...] [...***...] [...***...] [...***...] TOTAL Potential Milestones [...***...] [...***...] [...***...] *These milestones are payable upon achievement of the event, regardless of whether [...***...] or not. The [...***...] Milestone Event shall occur upon [...***...] that the Discovery Milestone has been met. **For each of these milestones, GSK pays the Table 1 Rate or Table 2 Rate, as applicable, if GSK achieves the Milestone Event (i.e., if GSK had exercised its Program Option at [...***...] Stage or otherwise prior to [...***...]) or the Table 3 Rate if Regulus achieves the Milestone Event (i.e., if GSK had not so exercised its Program Option but Regulus continued developing the Collaboration Compound).
Milestone Events. Subject to the remainder of this Section 9.3, Ji Xing shall pay to Cytokinetics the following one-time, non-refundable and non-creditable sales milestone payments set forth in the table below when the aggregated Net Sales of all Products sold in the Territory in a Calendar Year first reach the corresponding threshold value indicated below. 1. [*] [*] 2. [*] [*] 3. [*] [*] 4. [*] [*] Total [*]