Milestone Criteria definition
Examples of Milestone Criteria in a sentence
The Development Committee shall use its best efforts to develop the testing protocols for the Initial System and the Development Milestone Criteria not later than 90 days after the Effective Date.
Upon such submission, the Joint Steering Committee will review and confirm in good faith whether the proposed Mixture(s) meet the Preclinical Milestone Criteria and are therefore approved as Licensed Product Candidates within reasonable time not to exceed [***] after the submission and will render its decision in writing.
If, within [***] Business Days after the Criteria Achievement Notice, Takeda does not notify the JSC in writing that it objects to Denali’s determination that the applicable Research Milestone Criteria have been satisfied, such Research Milestone Criteria shall be deemed to have been satisfied.
In the event that the JSC agrees that all or substantially all of the applicable Milestone Criteria have been met, subject to payment of the milestone as outlined in Section 6.2, PROSENSA shall use its Commercially Reasonable Efforts to continue to progress the PROSENSA Collaboration Program through to completion of the Proof of Concept Study.
If the Parties disagree as to whether or not the relevant Milestone Criteria can reasonably be achieved for any particular Compound, such dispute will be referred to expert determination in accordance with Section 13.1(b).