Development Milestone Payments. Acadia shall provide Stoke with written notice of the achievement of each Development Milestone Event within ​ thereafter (with the except of ​). Following receipt of such notification, Stoke shall invoice Acadia for the amount of the applicable Development Milestone Payment, and Acadia shall make the corresponding Development Milestone Payment within ​ after receipt of such invoice.

Development Milestones for ​ Licensed Products. In further consideration for the licenses and other rights granted to Acadia herein by Stoke, following the first achievement by Acadia, its Affiliate or Sublicensee of each Development Milestone Event set forth in the table below by a first ​ Licensed Product, Acadia shall make the corresponding one-time, non-refundable, non-creditable Development Milestone Payment to Stoke in accordance with Section 9.7(a).

Sales Milestone Payments. Following the First Commercial Sale of a Product, within ​ of the end of each Calendar Year, Acadia shall notify Stoke of each Sales Milestone Event achieved with respect to such Calendar Year. Following receipt of such notification, Stoke shall invoice Acadia for the amount of the applicable Sales Milestone Payment(s), and Acadia shall make the corresponding Sales Milestone Payment(s) within ​ after receipt of such invoice.