Milestone Requirement Sample Clauses

Milestone Requirement the Developer fails to fulfil the Milestone Requirement(s) before the Milestone Delivery Date. The Milestone Delivery Date will be adjusted day-for-day for any delays that occur due to [relevant events that trigger an adjustment to be determined]6; (c) Longstop Date: the Developer fails to satisfy the Operational Conditions Precedent by a specified "Longstop Date". The Longstop Date will be adjusted day-for-day for any delays that occur due to [relevant events that trigger an adjustment to be determined]7; (d) Default Termination Event prior to the Start Date: at any time prior to the Start Date, a Default Termination Event has occurred and is continuing; and 5 Note to Reader: Further Operational Conditions Precedent may be required. The above Operational Conditions Precedent are preliminary only. DESNZ is considering the full list of Operational Conditions Precedents and whether the Operational Conditions Precedents will vary between retrofit and new-build projects. 6 Note to Reader: DESNZ is considering the relevant events that trigger an adjustment to the Milestone Requirements further.
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Milestone Requirement. At all times, prior to the occurrence of the Phase 3 Event, Borrower shall be required to (i) achieve the Milestone Event, and (ii) maintain unrestricted and unencumbered cash in accounts in the name of Borrower with Bank in an aggregate amount of greater than Twenty Million Dollars ($20,000,000.00) ((i) and (ii) collectively, the “Milestone Requirement”). If Borrower fails to comply with the Milestone Requirement (which failure in and of itself is not an Event of Default) (the “Trigger Event”), Borrower shall immediately deposit into the Cash Collateral Account unrestricted and unencumbered cash in an amount of at least one hundred percent (100.0%) of the outstanding Obligations of Borrower to Bank (other than Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement) as of the date of the Trigger Event (as determined by Bank), to secure all of the Obligations of Borrower to Bank (other than Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement) (a “Cash Collateralization”). For the avoidance of doubt, the receipt by Borrower of negative data for the PRISM Trial, as determined by Bank in its sole and absolute discretion, constitutes a Trigger Event. Borrower hereby authorizes and directs Bank to transfer to the Cash Collateral Account an amount equal to one hundred percent (100.0%) of the outstanding Obligations of Borrower to Bank (other than Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement) as of the date of the Trigger Event (as determined by Bank) if Borrower fails to effect a Cash Collateralization as required under this Section 6.11, it being understood that the foregoing authorization shall constitute an immediate Cash Collateralization, irrespective of any delay by Bank in effecting such transfer, to the extent that sufficient Borrower funds are then available for Bank to effect such transfer. Borrower further authorizes Bank, at the election of Bank, in Bank’s sole and absolute discretion, to apply the funds held in the Cash Collateral Account on account of the outstanding Obligations of Borrower to Bank (the “Paydown Payment”). For the avoidance of doubt, the Paydown Payment shall not be subject to the Prepayment Premium. Notwithstanding the foregoing, upon Bank’s receipt of evidence from Borrower, satisfactory to Bank in its sole and absolute dis...
Sample 1
Milestone Requirement. 7.1 Milestone satisfaction‌ (a) No later than the Milestone Delivery Date, the Emitter shall notify the ICC Contract Counterparty (a "Milestone Requirement Notice") that the Emitter considers that it has complied with and fulfilled a Milestone Requirement. A Milestone Requirement Notice shall include either: (i) such invoices, payment receipts and other Supporting Information with respect to the Project as the Emitter considers relevant to evidence that it and its direct shareholders have in aggregate spent 10 per cent. (10%) or more of the Total Project Pre-Commissioning Costs on the Project; or (ii) such Information as is specified, identified or listed as the Project Commitments and such Supporting Information as the Emitter considers relevant to evidence compliance with or fulfilment of the Project Commitments (and for this purpose, where the Project Commitments relate to Material Equipment, taking into consideration the need to demonstrate to the ICC Contract Counterparty's satisfaction that contracts, agreements and purchase orders relating to such Material Equipment constitute significant financial commitments that are real, genuine and made in good faith), (each, a "Milestone Requirement"). (b) A Milestone Requirement Notice shall be accompanied by a Directors' Certificate in relation to the information contained in, and enclosed with, the Milestone Requirement Notice.
Sample 1
Milestone Requirement. 4.1 Condition [1.1] is amended by: (a) adding the following words to the end of the definition of "Contractor": "(which, for the avoidance of doubt, shall include the CaaS Co)"; (b) deleting the words "two (2) directors of the Emitter or one (1) director of the Emitter" in the definition of "Directors' Certificate" and replacing them with the words "two (2) directors of the Emitter or of the CaaS Co (as applicable) or one (1) director of the Emitter or of the CaaS Co (as applicable)"; and (c) deleting the words "that is not a holding company or subsidiary of the Emitter or a Representative of any such party or the Emitter" in the definition of "Directors' Certificate" and replacing them with the words "that is not a holding company or subsidiary of the Emitter or the CaaS Co (as applicable) or a Representative of any such party or the Emitter or the CaaS Co (as applicable)". 4.2 Condition [4] is amended by: (a) deleting the words "that the Emitter considers that it has complied with and fulfilled" in Condition [4.1] and replacing them with the words "that the Emitter considers that it (and/or, if applicable, the CaaS Co) has complied with and fulfilled"; (b) deleting the words "as the Emitter considers relevant to evidence that it and its direct shareholders have in aggregate spent" in Condition [4.1(A)] and replacing them with the words "as the Emitter considers relevant to evidence that it and its direct shareholders and/or (if applicable) the CaaS Co and its direct shareholders have in aggregate spent"; (c) deleting the words "money spent by a direct shareholder of the Emitter to acquire an interest in the Emitter" in Condition [4.1 (i) and replacing them with the words "money spent by a direct shareholder of the Emitter and/or the CaaS Co to acquire an interest in the Emitter or the CaaS Co (as applicable)"; (d) deleting the words "exceeds the amount spent on the Project by the Emitter and its direct shareholders" in Condition [4.1(i)] and replacing them with the words "exceeds 56 Note to Reader: BEIS is considering whether a similar amendment will be required to Paragraph [3] of Part [B] of Annex [1] (Conditions Precedent). (e) deleting the words "money spent by the Emitter for the purpose of connecting the Installation to any relevant T&S Network" in Condition [4.1(ii)] and replacing them with the words "money spent by the Emitter and/or the CaaS Co (as applicable) for the purpose of connecting the Installation to the T&S Network"; (f) deleting the w...
Sample 1
Milestone Requirement the Producer fails to fulfil the Milestone Requirement before the Milestone Delivery Date. The Milestone Delivery Date will be adjusted day-for-day for any delays that occur due to Force Majeure (and potentially other events outside the Producer's control to be specified); (c) Longstop Date: the Producer fails to satisfy the Operational Conditions Precedent by a specified "Longstop Date". The Longstop Date will be adjusted day-for-day for any delays that occur due to Force Majeure (and potentially other events outside the Producer's control to be specified); (d)
Sample 1
Milestone Requirement. [This will need to be kept under review as the Milestone Requirement is developed/defined. However, BEIS' initial views are that this may need to be adapted for CaaS Co arrangements if it is CaaS Co who is responsible for satisfying the requirement in practice.]
Sample 1
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Related to Milestone Requirement

  • Service Requirement Except as otherwise provided in Section 6(e) of the Plan or Section 2 of this Agreement, this Option may be exercised only while you continue to provide Service to the Company or any Affiliate, and only if you have continuously provided such Service since the Grant Date of this Option.

  • W-9 Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a properly completed Internal Revenue Service (“IRS”) Form W-9. The purpose of the W-9 form is to document the SS# or FEIN# per the IRS. Note: W-9s submitted for any other entity name other than the Grantee’s will not be accepted.

  • Performance Requirements A. There is no guaranteed minimum amount of work which will be ordered under this Contract. B. The total Contract amount will not exceed $4,900,000. C. This is a Contract for work specified in individual Job Orders. Work ordered prior to but not completed by the expiration of the Contract period, and any additional work required as a result of unforeseen conditions encountered during construction up to six (6) months after the contract expiration date, will be completed with all provisions of this Contract still in force. Performance time for each Job Order issued under this Contract will be determined in accordance with the Contract. This performance time will be determined and agreed upon by both Parties for each individual Job Order. Contractor must self-perform 20% of the Work under this Contract for ‘A’ and ‘B’ licenses. Contractor must self-perform 75% of the Work under this Contract, unless otherwise approved by the County, for ‘C’ licenses. D. This is an indefinite-quantity Contract for the supplies or services specified and effective for the period stated. Work or performance shall be made only as authorized by Job Orders issued in accordance with the ordering procedures clause. The Contractor agrees to furnish to the County when and if ordered, the supplies or services specified in the Contract up to and including the quantity designated in the Job Orders issued as the maximum designated in the Contract.

  • CONTRACT COMPLIANCE REQUIREMENT The HUB requirement on this Contract is 0%. The student engagement requirement of this Contract is 0 hours. The Career Education requirement for this Contract is 0 hours. Failure to achieve these requirements may result in the application of some or all of the sanctions set forth in Administrative Policy 3.10, which is hereby incorporated by reference.

  • License Requirements The Hotel’s alcoholic beverage license requires that the Hotel shall: (i) request proper identification (photo ID) of any person of questionable age and refuse alcoholic beverage service if the person is either under age or proper identification cannot be produced, and (ii) refuse alcoholic beverage service to any person who, in the Hotel’s judgment, appears to be intoxicated; and (iii) instruct its personnel to avoid encouraging patrons to consume alcoholic beverages (commonly referred to as “over-pouring”).

  • Notice Requirement No termination of this Agreement shall be effective unless and until the party terminating this Agreement gives prior written notice to all other parties to this Agreement of its intent to terminate which notice shall set forth the basis for such termination. Furthermore, in the event that any termination is based upon the provisions of Article VII, or the provision of Section 10.1(a), 10.1(i) or 10.1(j) of this Agreement, such prior written notice shall be given in advance of the effective date of termination as required by such provisions; and

  • Project/Milestones Taxpayer provides refrigerated warehousing and logistic distribution services to clients throughout the United States. In consideration for the Credit, Taxpayer agrees to invest in a new refrigeration and distribution facility in the XxXxxxxxx Park area of Sacramento, California, and hire full-time employees (collectively, the “Project”). Further, Taxpayer agrees to satisfy the milestones as described in Exhibit A (“Milestones”) and must maintain Milestones for a minimum of three (3) taxable years thereafter. In the event Taxpayer employs more than the number of full-time employees, determined on an annual full-time equivalent basis, than required in Exhibit A, for purposes of satisfying the “Minimum Annual Salary of California Full-time Employees Hired” and the “Cumulative Average Annual Salary of California Full-time Employees Hired,” Taxpayer may use the salaries of any of the full-time employees hired within the required time period. For purposes of calculating the “Minimum Annual Salary of California Full-time Employees Hired” and the “Cumulative Average Annual Salary of California Full-time Employees Hired,” the salary of any full-time employee that is not employed by Taxpayer for the entire taxable year shall be annualized. In addition, the salary of any full-time employee hired to fill a vacated position in which a full-time employee was employed during Taxpayer’s Base Year shall be disregarded.

  • Milestone Schedule Please state the status and progress of each Milestone and identify any completed Milestone(s) for the previous calendar quarter.

  • Screening Requirements Practitioner shall ensure that all prospective and current Covered Persons are not Ineligible Persons, by implementing the following screening requirements. a. Practitioner shall screen all prospective Covered Persons against the Exclusion List prior to engaging their services and, as part of the hiring or contracting process, shall require such Covered Persons to disclose whether they are Ineligible Persons.‌ b. Practitioner shall screen all current Covered Persons against the Exclusion List within 30 days after the Effective Date and on a monthly basis thereafter.‌ c. Practitioner shall require all Covered Persons to disclose immediately if they become an Ineligible Person.‌ Practitioner shall maintain documentation in order to demonstrate that Practitioner: (1) has checked the Exclusion List (i.e., a print screen of the search results) and determined that its Covered Persons are not Ineligible Persons; and (2) has required its Covered Persons to disclose if they are an Ineligible Person. Nothing in this Section III.D affects Practitioner’s responsibility to refrain from (and liability for) billing Federal health care programs for items or services furnished, ordered, or prescribed by an excluded person. Practitioner understands that items or services furnished by excluded persons are not payable by Federal health care programs and that Practitioner may be liable for overpayments and/or criminal, civil, and administrative sanctions for employing or contracting with an excluded person regardless of whether Practitioner meets the requirements of Section III.D.

  • Sublicense Requirements Any Sublicense: (A) is subject to this Agreement; (B) will reflect that any sublicensee will not further sublicense; (C) will prohibit sublicensee from paying royalties to an escrow or other similar account; (D) will expressly include the provisions of Sections 8, 9, and 10 for the benefit of Stanford; and (E) will include the provisions of Section 4.4 and require the transfer of all the sublicensee’s obligations to *****, including the payment of royalties specified in the Sublicense, to Stanford or its designee, if this Agreement is terminated. If the sublicensee is a spin-out from *****, ***** must guarantee the sublicensee’s performance with respect to the payment of Stanford’s share of Sublicense royalties.

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