Payment for Development Milestone Achievement. Within following the achievement of a particular Development Milestone event with respect to the first Product to achieve such Development Milestone, BMS shall pay, or cause to be paid, to Nektar the corresponding payment for the applicable Development Milestone achieved as set forth below (each a “Development Milestone Payment”), each such payment being non-refundable and non-creditable.
Payment for Commercial Milestone Achievement. Within following the receipt of the notice referred to in [Section 9.3(a), BMS] shall pay, or cause to be paid, to Nektar the corresponding payment for the applicable Commercial Milestone achieved as set forth below (each a “Commercial Milestone Payment”), each such payment being non-refundable and non-creditable.
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