Development Milestone Payments. Subject to the remainder of this Section 8.4, Sana shall pay to Beam the milestone payments set forth in the “Milestone Payment A” column of the table below (each, a “Development Milestone Event”) upon the achievement of such Development Milestone Event by a Licensed Product being Developed or Commercialized by or on behalf of Sana or any of its Affiliates or Sublicensees, provided, however, that that in the event that , Sana shall, in lieu of the amount set forth in the “Milestone Payment A” column in the table below, instead pay to Beam the applicable milestone payment set forth in the “Milestone Payment B” column of the table below.
Commercial Milestone Payments. Subject to the remainder of this Section 8.5, Sana shall pay to Beam the milestone payments set forth in the table below when the annual aggregate Net Sales of each Licensed Product first reach the values indicated below (each, a “Commercial Milestone Event”); provided, however, that that in the event that , Sana shall, in lieu of the amount set forth in the “Milestone Payment A” column in the table below, instead pay to Beam the applicable milestone payment set forth in the “Milestone Payment B” column of the table below.
Agreement Milestones. Notwithstanding anything to the contrary in Section 8.4 or 8.5, if: (a) (i) any event occurs with respect to a Licensed Product or any Enabled Product (as such term is defined in the Agreement) developed or commercialized by Sana (or its Affiliates or Sublicensees) triggers a milestone payment by Beam pursuant to the Agreement, and # no milestone payment is owed by Sana to Beam under this Agreement or the amount of the milestone payment owed under this Agreement is less than the amount of the milestone payment owed by Beam under the Agreement (including as a result of [Section 4.5] of the Agreement with respect to activities of Sana, its Affiliates and its Sublicensees); then # Sana will provide written notice to Beam and pay the amount of such milestone (or gross up its payment to Beam such that the amount of the milestone paid by Sana is not less than that owed by Beam under the Agreement) to Beam within days after receipt of Beam’s invoice therefor.
Sana will notify Beam within days after achievement (or deemed achievement) of each Development Milestone Event. Sana will pay to Beam the corresponding milestone payment set forth in the table above within days after achievement of each Development Milestone Event.
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