definiens: means the time when the first patient in a clinical study is dosed ): a ) five hundred thousand dollars ( $ 500,000 ) * when [COMPANY], its Affiliate or Third Party Licensee ini tiate a phase I study ; b ) one million dollars ( $ 1,000,000 ) * when [COMPANY], its Affiliate or Third Party Licensee initiate a phase II study ; c ) one million dollars ( $ 1,000,000 ) * when [COMPANY], its Affiliate or Third Party Licensee initiate a phase III study ; d ) one million dollars { $ 1,000,000 } * on the acceptance by the FDA of a New Drug Application ; e ) six million dollars ( $ 6,000,000 ) * when [COMPANY] its Affiliate or Third Party Licensee makes its First Commercial Sale in the United States ; 1 ) two million five hundred thousand dollars ( $ 2,500,000 ) * when [COMPANY], its Affiliate or Third Party Licensee makes its First Commercial Sale in the European Union ; and g ) two million five hundred thousand dollars ( $ 2,500,000 ) * when [COMPANY], its Affiliate or Third Party Licensee makes its First Commercial Sale in Japan