Research and Development Milestones. Subject to the terms and conditions of this Agreement Merck shall pay to Ablynx the following milestone payments:

Development and Regulatory Milestones. In partial consideration of the rights granted to Allena under Section 2.1, Allena shall pay to Althea, by wire transfer to an account designated by Althea, the applicable milestone payment listed below within thirty (30) days after the first achievement of each milestone event by the first Licensed Product Covered by a Valid Claim:

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:

Milestones. Loan Parties will comply with the milestones (the "Milestones") set forth in that certain interest rate letter dated as of the date hereof and delivered by U.S. Borrower to Administrative Agent (the "Interest Rate Letter"). Any failure by Loan Parties to comply with the Milestones will constitute an Event of Default under this Agreement, the Credit Agreement and the other Loan Documents.

Milestones. By entering into this Agreement as of the Effective Date, the Required DIP Noteholders waive any milestone events of default under the Final DIP Order and the Bidding Procedures Order relating to Sellers’ selection of this Agreement as the stalking horse purchase agreement.

Milestones. Surface shall pay to Harbour the applicable milestone payment listed in the table below for each Licensed Product after achievement of each milestone event. Surface shall provide Harbour with written notice and such milestone payment within ​ days after achieving each milestone. Each such milestone payment shall be payable only once for each Licensed Product.

“5.2 Milestones and Fees for Development of Licensed Products

Regulatory Milestones. In consideration of the rights granted by ​ to [[Organization A:Organization]] hereunder for the Lead Compound and subject to the terms and conditions set forth in this Agreement, [[Organization A:Organization]] shall pay to ​ a milestone payment within […​…] after the achievement of each of the following milestones, calculated as follows:

Sales Milestones. Denali shall pay to ​ a one-time milestone payment upon the first occurrence of the events listed in [(a) through (c)] below:

Neuren and ACADIA have agreed to an initial Development Plan with respect to the Development of the Compound for Rett syndrome in the Territory, including development tasks, timelines and a budget, an overview of which is set out in a schedule delivered by separate letter agreement of the parties.