First Milestone. Within [***] ([***]) days after the date of Satisfactory Completion of the [***] of a Product in [***] by Parent, its Affiliate or a sublicensee, such date being the “First Milestone,” Parent shall pay to the Company Stockholders a non-refundable, non-creditable milestone payment in the aggregate amount of [***] Dollars ($[***]) in cash, less the Setoff Amount and less [***] ([***]) of the Assumed Company Payables, and [***] Dollars *** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. ($[***]) payable in shares of Parent Common Stock, based on the Parent Stock Price as of the trading day prior to the date hereof (the “First Milestone Payment Amount”), with such payment allocated among the Company Stockholders in accordance with Section 2.8.
First Milestone. The first milestone is reached with the accepted submission of the research proposal and must be reached by the end of the third semester at the latest. The doctoral candidate must submit the following information, which constitutes the first progress report: 1. A research proposal, which gives the preliminary title of the planned thesis, the research question to be investigated, the planned methodology, the anticipated outcomes and a bibliography. 2. A time schedule for the completion of the doctoral thesis.
First Milestone. Upon the earlier of (x) Buyer’s receipt of U.S. Food and Drug Administration approval of the use of Deflectable Catheter Products in any one of the Market(s) or (y) [***] (such earlier date, the “First Milestone Date”) Buyer shall pay the additional, aggregate amount of $[***] to Seller, within three (3) business days following the First Milestone Date, by wire transfer of US dollar denominated funds to a bank account designated by Seller or, if Seller fails to give Buyer written wire instructions, by delivery of a check payable in immediately available funds to the order of Seller. The obligation of Buyer to pay the Additional Payment on date specified in clause (y) is conditioned on material compliance by both Consultants (as defined in Section 4.5 below) with their obligations under their respective Consulting Agreements with Buyer through such date.
First Milestone. Any of the following: · the filing by Licensee or its Affiliate of an investigational new drug application (the “IND”) within twenty-four (24) months following the Effective Date · Licensor having the right to perform a disc procedure in the United States within twenty-four (24) months following the Effective Date · Two Hundred Fifty Thousand Dollars ($250,000) in aggregate cumulative gross sales for Licensee and its Affiliates within twenty-four (24) months following the Effective Date
First Milestone. Upon “commencement of drilling” of the first well outside of the Oyo Field under the PSC, CEI shall retain the Contract Rights (the “First Milestone”), subject to the payment by CEI to Allied of an additional USD $5,000,000 (either in cash, or at Allied’s option, in shares of Common Stock (“Consideration Shares”)) within fifteen (15) days after the commencement of drilling (the “First Milestone Consideration”). For purposes of this Section 3.1(a), “commencement of drilling” shall mean “spudding” the well with a rig capable of drilling the well to its total measured depth.
First Milestone. The Zoning Permits have been issued. Landlord shall use commercially reasonable best efforts to achieve the First Milestone no later than the First Milestone Date.
First Milestone. The First Milestone means the date within 9 months from the Closing in which all of the following has been achieved by the Company: · Update to the grammar tool that will include: (1) a new implemented classifier and parser, (2) at least 4 of the 6 contemplated new features listed below, and (3) debugging of most current “false positives” · Recruit a qualified executive satisfactory to the Investors who will be responsible for structuring the organization of the Company and for deal closing · Obtain an average of authorized sales of $135,000 per month for a period of at least 3 months, while maintaining an ROI of at least 1.8. · Complete infra structure for collecting sales and user related data. New Features:
First Milestone. Schering shall pay RPI US [ ] upon completion of a relevant animal efficacy model, as discussed by the Research Committee, that in the unanimous opinion of the Research Committee demonstrates that a particular Ribozyme (i) will most likely be a Ribozyme Product with efficacy in man with an acceptable, appropriate therapeutic ratio or (ii) provides sufficient information to enable Schering to design and conduct the research
First Milestone. Upon the earlier to occur of (i) the later of (A) six (6) months following the Closing Date, and (B) the Date of Enrollment of the first patient in the first Clinical Trial, (ii) a Change of Control, (iii) entry into of a Strategic Collaboration Agreement by Buyer or an Affiliate thereof, or (iv) termination of the BioVascular License Agreement, Buyer shall issue to the Owners, in the case of a Change of Control, immediately prior to closing of such Change of Control, and otherwise within one (1) business day of the occurrence of such event, an aggregate of two million (2,000,000) shares of Buyer Common Stock, subject to adjustments in accordance with Section 1.3(c) hereof, as applicable (the “First Milestone”).
First Milestone. Upon Company achieving a public listing and trading of its Common Stock on NASDAQ, AMEX or NYSE (each, a “Qualified Exchange”) by Due Date (“First Milestone”), five hundred thousand (500,000) Escrow Shares shall be released back to the Principal Shareholders pro rata. If the Company does not achieve the First Milestone by Due Date, five hundred thousand (500,000) Escrow Shares shall be distributed to the Holders pro rata based on Schedule A of the Securities Exchange Agreement.
