Common use of - Phase B Consideration Clause in Contracts

- Phase B Consideration. Subject to the foregoing, in consideration for Phase B, ADOLOR shall pay ▇▇▇▇▇▇▇: • $300,000 payable within five (5) business days of the expiration of Phase A; • $500,000 payable within five (5) business days of the filing of a first application for a NDA or similar filing in the United States, Canada, Japan or the European Community that seeks permission to market a Product; • $900,000 payable within five (5) business days of receiving notice of acceptance of a first NDA or similar filing in the United States, Canada, Japan or the European Community that seeks permission to market a Product; and • a royalty equal to **% of Net Sales. ADOLOR shall pay Lilly, on behalf of ▇▇▇▇▇▇▇, $500,000 upon acceptance of a first NDA or similar filing in the United States, Canada, Japan or the European Community that seeks permission to market a Product, in accordance with Section 3.01(v) the Lilly License. ADOLOR agrees to pay Lilly, on behalf of ▇▇▇▇▇▇▇, a royalty equal to ** % of Net Sales in accordance with the Lilly License. For any payment made on behalf of ▇▇▇▇▇▇▇, ADOLOR shall deliver proof of such payment to ▇▇▇▇▇▇▇. **= Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

- Phase B Consideration. Subject to the foregoing, in consideration for Phase B, ADOLOR shall pay ▇▇▇▇▇▇▇: • · $300,000 payable within five (5) business days of the expiration of Phase A; • · $500,000 payable within five (5) business days of the filing of a first application for a NDA or similar filing in the United States, Canada, Japan or the European Community that seeks permission to market a Product; • · $900,000 payable within five (5) business days of receiving notice of acceptance of a first NDA or similar filing in the United States, Canada, Japan or the European Community that seeks permission to market a Product; and • · a royalty equal to *[]*% of Net Sales. ADOLOR shall pay Lilly, on behalf of ▇▇▇▇▇▇▇, $500,000 upon acceptance of a first NDA or similar filing in the United States, Canada, Japan or the European Community that seeks permission to market a Product, in accordance with Section 3.01(v) the Lilly License. ADOLOR agrees to pay Lilly, on behalf of ▇▇▇▇▇▇▇, a royalty equal to []** % of Net Sales in accordance with the Lilly License. For any payment made on behalf of ▇▇▇▇▇▇▇, ADOLOR shall deliver proof of such payment to ▇▇▇▇▇▇▇. **= Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.