For the avoidance of doubt, if more than one milestone is reached in any year, the relevant Development Milestone Fee for each of those milestones will be payable in accordance with this Agreement.
Ovid shall make each of the milestone payments set forth below (each, a Sales Milestone Amount) upon the first occurrence of the corresponding sales milestone event (each, a Sales Milestone Event):
The Parties agree that if , then Ovid shall pay to Lundbeck the Development Milestone Amount within .
Milestone Payment Reductions: The Licensee’s Milestone Payments due to the NRC shall be reduced in the following situations:
Ovid shall make each of the milestone payments set forth below (each, a Regulatory Milestone Amount) upon the first occurrence of the corresponding regulatory milestone event after the Effective Date with respect to Product (each, a Regulatory Milestone Event):
Section # Milestone Payments 17
each Development Milestone Fee in accordance with the payment terms set out in part 2 of the Fee Schedule; and
Each Sales Milestone Fee shall be payable only once, upon first achievement regardless of the number of times such milestone event is achieved. If two or more milestone events are achieved in the same calendar year, ACADIA shall pay to Neuren all milestone payments corresponding to the respective milestone events achieved.
Development and Approval Milestones. Subject to the terms of this Agreement (including [Section 5.1.3]), within days after the first achievement by Allergan, its Affiliates or Sublicensees of a Milestone Event set forth below for Licensed Products, Allergan shall make a one-time, non-creditable, non-refundable Milestone Payment to UroGen in the amount below corresponding to such Milestone Event:
The closings of the transactions contemplated in [Section 2.3] above will take place at closings to be held remotely via the exchange of documents and signatures within thirty (30) business days following the occurrence of any of the Milestone Closings.
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