Development Milestone Payment. During the Term, upon the achievement by or on behalf of a Party or its Affiliates or Sublicensees of any milestone event set forth below in Table 6.1(b) (Development Milestone Payments) (each, a “Development Milestone Event”) for the Licensed Product, the achieving Party will notify the other Party promptly after the occurrence thereof, and Lian will pay Lyra a non-refundable, non-creditable, and not subject to set-off, milestone payment set forth in the table below (each, a “Development Milestone Payment”) no later than ​ days after its achievement of such milestone event. Each of the milestone payments set forth below in Table 6.1(b) (Development Milestone Payment) is payable ​.

Events and Payments. Licensee will notify Licensor as soon as practicable upon (and in any event within ​ Business Days after) achievement of the applicable event listed in Table 5.3.1 below (each, a “Development Milestone Event”) by Licensee or its Affiliate or Sublicensee. Subject to Section 4.6 (Priority Review Vouchers), no later than ​ after receipt of a written invoice from Licensor specifying the achieved Development Milestone Event and the corresponding milestone payment set forth in Table 5.3.1 below (each a “Development Milestone Payment”), Licensee shall pay to Licensor such Development Milestone Payment. For clarity, each Development Milestone Payment will be made only once for the first time that the applicable Development Milestone Event is achieved, regardless of how many Licensed Products may achieve such Development Milestone Event, or how many times a particular Licensed Product may achieve such Development Milestone Event.