Borrowing Milestone. Borrower shall have (i) achieved minimum Revenue from the sale of the Product of at least $25,000,000 during any consecutive twelve (12) month period, provided that Borrower shall have achieved such Borrowing milestone relating to minimum Revenue no later than December 31, 2016, and (ii) executed the first contract, by no later than December 31, 2016, for commercial sales of Borrower’s first next generation LINAC unit (Prometheus).
Appears in 3 contracts
Samples: Term Loan Agreement (ViewRay, Inc.), Term Loan Agreement (ViewRay, Inc.), Term Loan Agreement (ViewRay, Inc.)
Borrowing Milestone. Borrower shall have (i) achieved minimum Revenue from the sale of the Product of at least $25,000,000 28,000,000 during any consecutive twelve (12) month period, provided that Borrower shall have achieved such Borrowing milestone relating to minimum Revenue no later than December 31, 2016, and (ii) executed the first contract, by no later than December 31, 2016, for commercial sales of Borrower’s first next generation LINAC unit (Prometheus)2015.
Appears in 1 contract
Samples: Term Loan Agreement (TearLab Corp)
