Milestone 1 means achievement of annual Net Sales of at least $20,000,000 during the Calendar Year ending on December 31, 2021.
Development Milestone Event shall have the meaning set forth in Section 9.2(a).
Milestone 2 means achievement of annual Net Sales of at least $35,000,000 during any Calendar Year ending on or before December 31, 2024.
Milestone Events has the meaning set forth in Section 3.3 (Milestone Payments).
Project Milestones means the project milestones set forth in Schedule-G;
Milestones means control points in the project that help to chart progress. Milestones may correspond to the completion of a key deliverable, allowing the next phase of the work to begin. They may also be needed at intermediary points so that, if problems have arisen, corrective measures can be taken. A milestone may be a critical decision point in the project where, for example, the consortium must decide which of several technologies to adopt for further development.
Milestone means an event or task described in the Implementation Plan which must be completed by the corresponding date set out in such plan;
Development Milestone Payment shall have the meaning set forth in Section 9.2(a).
Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.
Project Milestone means the project milestone set forth in Schedule-J;
Milestone Event has the meaning set forth in Section 8.4.
Milestone Date means the date set against the relevant Milestone in the Implementation Plan;
Sales Milestone Payment shall have the meaning set forth in Section 8.4.
Milestone Schedule means Seller’s milestone schedule, the form of which is attached to this Agreement as Exhibit Q.
Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.
Milestone Payment means a payment identified in the Implementation Plan to be made following the issue of a Satisfaction Certificate in respect of Achievement of the relevant Milestone;
Milestone Payment Date has the meaning set forth in Section 2.4(a).
Milestone Payments has the meaning set forth in Section 4.2.
Milestone Failure means a failure by the Grant Recipient fully to achieve any Milestone by the relevant Milestone Date;
EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").
KPI Target means the acceptable performance level for a KPI as set out in each KPI;
Development Schedule shall have the meaning set forth in Section 1.1.
Targets means pre-agreed values to be achieved at the end of the period in relation to the result indicators included under a specific objective;
Phase II Clinical Study means a human clinical study of a product initiated to determine the safety and efficacy in the target patient population, as described 21 C.F.R. 312.21(b).
Phase I Clinical Study means, as to a particular Licensed Product, an initial clinical study in humans with the purpose of assessing the Licensed Product’s safety, tolerability, toxicity, pharmacokinetics or other pharmacological properties.
Timeline means the list of critical dates and actions included in the Introductory Materials.