Notification; Payment. For clarity, each of the foregoing payments is payable a maximum of one (1) time only, even if the corresponding milestone event is achieved more than once. Further, for the avoidance of doubt, in no event shall Rigel be entitled to receive from ATI more than $80,000,000, payable in accordance with this Section 4.2. ATI shall notify Rigel in writing, within five (5) Business Days of the first occurrence of each of the milestone events in this Section 4.2. The corresponding milestone payment shall be due within [***] after the occurrence of the applicable milestone event or, in the case of milestone payments due for [***],[***] from ATI’s receipt of [***].
Appears in 2 contracts
Sources: License and Collaboration Agreement (Aclaris Therapeutics, Inc.), License and Collaboration Agreement (Aclaris Therapeutics, Inc.)