Additional Grant. 26.2.1 Subject to Clause 26.2.4, commencing from the COD of Phase-I and until the expiry of 5 (five) years therefrom, the Authority shall provide financial support to the Concessionaire in accordance with Schedule 18 (the “Additional Grant”).
26.2.2 {The Authority shall deposit or cause to be deposited the first Tranche of Additional Grant (payable upon completion of COD of Phase – I in accordance with Schedule 18), in the Escrow Account in advance at least 6 (six) months prior to the Scheduled Completion Date of Phase-I in accordance with Schedule 18.}12 Each {subsequent}13 Tranche of Additional Grant shall be deposited in the Escrow Account at least 3 (three) months in advance of the relevant scheduled Payment Milestone. Subject to Clause 26.2.4, the Additional Grant shall be disbursed by the Escrow Bank to the Concessionaire as and when due in accordance with the Payment Milestones as prescribed in Schedule 18 and the Escrow Agreement.
26.2.3 In the event of occurrence of a Concessionaire Default, disbursement of Additional Grant shall be suspended till such Concessionaire Default has been cured by the Concessionaire, to the satisfaction of the Authority.
26.2.4 The payment of each Tranche of Additional Grant {(other than the first Tranche of Additional Grant payable upon completion of COD of Phase – I in accordance with Schedule 18)}14 under the relevant Payment Milestones as specified in Schedule 18, shall be made only if the Hospital has maintained an average Occupancy at 30% (thirty percent) of the Bed Capacity (“Required Occupancy Level”) over the period of 12 (twelve) months preceding the date of achievement of such Payment Milestone as certified by Monitoring Agency. In the event that the Concessionaire fails to achieve the Required Occupancy Level at the time of Payment Milestone, then such relevant Tranche of Additional Grant shall be paid on earlier of (a) achievement of immediately succeeding Payment Milestone provided that the Concessionaire has achieved the Required Occupancy Level in the period of 12 (twelve) months preceding the date of achievement of such Payment Milestone as certified by Monitoring Agency, and (b) within 7 (seven) days of the date on which the Concessionaire submits a written request to the Authority seeking release of payment of such Tranche of Additional Grant provided that on the date of making such request, the Concessionaire has achieved the Required Occupancy Level for the 12 (twelve) month period preceding such d...
Additional Grant. Xxxxxxxxx will be granted a non-qualified option ---------------- to purchase an additional 700,000 shares of the Company's Common Stock under, and pursuant to the terms of, the Company's 1996 Amended and Restated Stock ---------------------------- Option Plan, including without limitation Section 11 thereof, at an exercise ----------------------------------------------- price equal to the fair market value (as determined by the Company's Board of Directors) on the date of grant (currently estimated to be $0.125 per share) (the "Additional Shares"). Such Additional Shares will vest and become ----------------- exercisable as follows, provided Xxxxxxxxx continues to provide services to the Company:
(i) 200,000 shares will vest over a four-year period as follows: Twenty-five percent (25%) of the shares will vest on July 1, 2000 and one-thirty-sixth (1/36th) of the remaining seventy-five percent (75%) of the shares will vest ratably at the end of each month thereafter upon Xxxxxxxxx'x completion of each month of service with the Company.
(ii) 500,000 shares will vest as follows:
(A) 100,000 shares upon the earlier of (A) the closing of a private equity financing with gross proceeds to the Company of at least $20.0 million and (B) June 30, 2006;
(B) 200,000 shares upon the earlier of (A) the closing of the Company's initial public offering of Common Stock pursuant to a registration statement filed under the Securities Act of 1933, as amended or upon a "Change in Control" (as defined below) and (B) June 30, 2006; and
(C) 50,000 shares upon consummation of each agreement with a corporate or strategic partner (as evidenced by an equity investment or an agreement to collaborate with respect to development, marketing or product offering) up to a maximum of 200,000 shares for four such agreements; provided that in any event such 200,000 shares shall be deemed fully vested on June 30, 2006 if Xxxxxxxxx is still providing services to the Company.
Additional Grant. 26.2.1 Subject to Clause 26.2.4, commencing from the COD of Phase-I and until the expiry of 7 (seven) years therefrom, the Authority shall provide financial support to the Concessionaire in accordance with Schedule 18 (the “Additional Grant”)
Additional Grant. Her Majesty made a payment to the Foundation of
Additional Grant. With respect to each WCM Invention and Joint Invention and related Joint Results for which either Section 6.1 does not apply or Company or the Special Purpose Entity has not made an election to amend the License Agreements pursuant to Section 6.1, WCM hereby grants to Company the first option (each, an “Option”) to negotiate in good faith with WCM for a royalty-bearing, worldwide license, under WCM Patent Rights, WCM Results and WCM’s interest in Joint Patent Rights, to develop, make, have made, use, offer for sale, sell, have sold, and import Derived Products in the Field on terms that are commercially reasonable for academia to industry licenses; provided, however, that the license will be exclusive (or non-exclusive at Company’s discretion) with respect to WCM Patent Rights and Joint Patent Rights and will be non-exclusive with respect to WCM Results; and provided, further, that no such license will include any grant of exclusive rights that would be inconsistent with the National Institutes of Health’s Principles and Guidelines for Recipients of NIH Research Grants and Contracts on Obtaining and Disseminating Biomedical Research Resources, as published at 64 Fed. Reg. 72090 and as may be amended from time to time.
Additional Grant. The Commission hereby grants to the Sponsor an additional sum of Nine Hundred Forty-Four Thousand Six Hundred Twenty-Four Dollars ($944,624) for this project. The Sponsor shall provide matching funds of not less than One Hundred Four Thousand Nine Hundred Thirteen Dollars ($104,913) toward the project in addition to those previously committed by the Sponsor in the Original Agreement.
Additional Grant. In addition to and supplemental to the grants in Section 2.1 of the Existing Agreement, RCFC hereby grants, pledges and assigns to the Master Collateral Agent, for the benefit of the Beneficiaries (to the extent set forth in Section 2.2 and 2.3 of the Existing Agreement), a continuing, first priority Lien on all right, title and interest of RCFC in, to and under the Assignment of Exchange Agreement and all proceeds thereof, including Unused Exchange Proceeds, but only to the extent such grant, pledge and assignment with respect to such Exchange Proceeds, including such grant, pledge and assignment with respect to the Unused Exchange Proceeds, is consistent with the limitations set forth in the "safe harbor" provisions of Treasury Regulation ss.1.1031(k)-1(g) (6).
Additional Grant. Subject to Written Consent, Regarding Certain Other Uses. Other than the uses specified in Paragraph 3.2, the Company may use, on uses not within Paragraph 3.2 above, even if released and discharged under Paragraph 3.1 above, Greenfield's first name, image, likeness, portrait, photograph, audix xx xxxxx recordings, and/or facsimile signature, only with his express written consent as to each proposed use. Within 30 days of the effective date of this Agreement, the Company shall present to the Greenfield a list and description of all uses for which it requests consent at this time. Greenfield shall respond to the request for such uses within 30 days thereafter, and shall execute all appropriate documents reasonably requested by the Company in aid of each consented use. The Company shall discontinue any use not within Paragraph 3.2 to which Greenfield does not consent as follows: For any such use in product packages, coupons, certificates, and point of sale materials, the Company may consume its stock, if any, existing as of the effective date of this Agreement. For all other such uses, the Company shall have a commercially reasonably period of time, not exceeding six months from the date of this Agreement, to discontinue such use. The Company shall thereafter afford a reasonable prior opportunity to Greenfield or his designee to review each matter as to which Greenfield has the right to consent under this paragraph, and in turn Greenfield agrees, upon request of the Company, to respond to any proposed use that requires consent under this Paragraph, and shall execute all appropriate documents reasonably requested by the Company in aid of each consented use.
Additional Grant. Pursuant to the Merger Agreement, ALPP has reserved additional shares of ALPP Series C Preferred Stock with a grant date fair value equal to $250,000.00 (the “Advisor Pool”), which shall be reserved and available for grant to engage other former employees of Company prior to the merger (the “Former Employees”) for advisory services. ALPP may issue Restricted Stock Units from the Advisor Pool to Former Employees as it sees fit for a period of six (6) months from the Effective Date. The Company may opt instead to issue cash payments (the “Payments”) to Former Employees for consulting services in lieu of shares from the Advisor Pool. In this case, shares may be canceled from the Advisor Pool in value equal to the Payments. In the event that there are any shares remaining in the Advisor Pool on the earlier of (i) the six (6) month anniversary of the Effective Date or (ii) the termination of Consultant’s Services by the Company without Cause or by the Consultant for Good Reason, ALPP shall grant or cause the Company to grant Xx. Xxxx an additional number of Restricted Stock Units of ALPP with a grant date fair value equal to the value of the shares remaining in the Advisor Pool as of such date (the “Additional Restricted Stock Units”). For the avoidance of doubt, if the value of Series C Preferred Stock is set by ALPP at a value other than $3.50 per share, all Restricted Stock Unit grants will have their share counts proportionally adjusted.
Additional Grant. CITY agrees to pay an additional grant to DEVELOPER in the form of a Chapter 380 loan in the total amount of One Million Four Hundred Thousand and No/10 Dollars ($1,400,000.00) (the “Additional Grant”), upon the SUBSTANTIAL COMPLETION of the PROJECT IMPROVEMENTS and the COMMENCEMENT OF OPERATIONS by DEVELOPER in accordance with the terms of the LEASE, and in exchange, DEVELOPER agrees to execute contemporaneous with the approval and execution of this First Amendment to the AGREEMENT, an amendment to the Ground Lease, in the form attached hereto as Exhibit A, requiring repayment as Base Rent by DEVELOPER (Lessee) to CITY (Lessor) the sum of $350,000.00 due on September 30, 2022; $350,000.00 due on September 30, 2023; $350,000.00 due on September 30, 2024; and $350,000.00 due on September 30, 2025. Developer further agrees to timely pay the Base Rent. Developer’s obligation to pay the Base Rent to CITY shall not xxxxx in any circumstances and shall survive the expiration or earlier termination of this Agreement and/or the LEASE.
B. Section 4.4 is added to read as follows:
