Milestone Adjustment. 2.1 The Company and APOL hereby agree to adjust and revise the milestone payment set forth in the first bullet point under the fourth bullet point of Section 4.2 (the “Convertible Debt Milestone”), by deleting the Convertible Debt Milestone in its entirety and inserting in lieu thereof a new paragraph pursuant to which the $350,000 bonus payout previously provided would be revised as follows: • $175,000 upon the achievement of at least $18.7 million in savings of interest charges that would otherwise have been payable to non affiliates as a result of purchases by the Company or its affiliates of its 3.75% Convertible Exchangeable Debentures due 2011 (the “Convertible Debt”), and another $175,000 upon the successful achievement of the payment, modification or discharge, outside of any proceeding seeking or obtaining protection against creditors, of the entire $168 million principal balance of Convertible Debt effective prior to November 10, 2009, such that the Holder Redemption Put Right (as defined in the Notes) is avoided or eliminated; and
Milestone Adjustment. In the event that Zeneca believes -------------------- that the sales of Zeneca Agricultural Products having a particular Trait Effect will be so low that the payment of the milestone payments in Section 4.4.1 will make the commercialization of such Zeneca Agricultural Products commercially impracticable it shall notify Maxygen, providing a detailed written explanation of its position, and in such event, the parties shall negotiate in good faith revised milestone payment amounts or a rescheduling of the payments of the amounts in Section 4.4.1 above with respect to such Trait Effect, which shall reflect the potential commercial value of such Trait Effect; provided, the provisions of Section 4.4.1 shall remain in effect unless and until such other terms are agreed in writing.
Milestone Adjustment. The Exercise Price shall be reduced by twenty percent (20%) if the Company does not report at least $35,000,000 in consolidated revenue in its Form 10-K filed with the Commission for the fiscal year ending December 31, 2009. Such report shall be filed within the time period required by Commission rules (including any permitted extensions under Rule 12b-25) or the Company will be conclusively presumed to have failed to meet this requirement until and unless such 10-K is actually filed.
Milestone Adjustment. Upon the announcement of the Company’s earnings for the fourth quarter and year ended December 31, 2008, the Warrant Price shall be adjusted automatically to either (i) $3.00 per share, if the number of ESRD patients prescribed to receive therapy using the NxStage System One is less than 3,100 as reported in the Company Reports on December 31, 2008, or (ii) $6.50 per share, if the number of ESRD patients prescribed to receive therapy using the NxStage System is more than 3,500 as reported in the Company Reports on December 31, 2008. Any adjustment to the Warrant Price required by the preceding sentence shall be subject to any additional adjustment to such Warrant Price required due to the prior occurrence of any of the events set forth in clauses (a) to (c) and (e) of this Section 4.
Milestone Adjustment. Notwithstanding anything to the contrary contained herein, if at any time prior to the end of 2020 Fiscal Year of Parent, one or more Adjustment Events occurs, the applicable Adjusted EBITDA Threshold in respect of each Milestone in respect of a Measurement Year ending after the date of such Adjustment Event shall be increased (in the case of an acquisition) or decreased (in the case of a sale) by an amount equal to the Adjusted EBITDA Adjustment Amount in respect of such Adjustment Event. For the avoidance of doubt, any calculation relating to the applicable Adjusted EBITDA Threshold or Adjusted EBITDA Adjustment Amount shall be calculated in accordance with historical practice as reflected in the Company’s Form 8-K dated as of April 17, 2018 (which is attached hereto as Exhibit C).
