Required Milestones Sample Clauses

Required Milestones. The Loan Parties shall use their reasonable best efforts to pursue and implement the Restructuring Transactions as defined in, and in accordance with, the RSA and shall, subject to the availability of the Court and as such time periods may be extended by the Required Lenders, achieve the following milestones:

Required Milestones. The Borrowers and/or the Guarantors shall or shall cause each of the following to occur (each, a “Required Milestone”), on or prior to the dates set forth below (it being agreed that time is of the essence):

Required Milestones. Holdco and the Borrower covenant and agree that (i) on or before April 30, 2015 the Borrower will have entered into a licensing agreement with a global pharmaceuticals company with respect to the Thermostable LPV technology, on terms satisfactory to the Lender, (ii) on or before September 25, 2015 the Borrower will have commenced toxicology work with respect to the CMV (VLP) Product, in the form of a first immunization of an animal for GLP toxicology, and (iii) on or before April 25, 2016 the Borrower will have commenced Phase I clinical trials with respect to the CMV (VLP) Product, in the form of a patient vaccination.

Required Milestones. On or before September 30, 2017, Borrower will have achieved at least two of the following milestones: (a) at least one patient shall have been enrolled in a Phase I clinical trial developing ZW25 for an indication targeting HER2 expressing tumors; and/or (b) at least one patient shall have been enrolled in a Phase I clinical trial developing ZW33 for an indication targeting HER2 expressing tumors; and/or (c) enter into a Collaboration Agreement with a publicly traded pharmaceutical or biotechnology company with a market capitalization greater than $10,000,000,000 that is reasonably expected to result in aggregate payments (including upfront fees, deferred payments and milestone payments) in excess of $100,000,000; provided that the Lenders hereby acknowledge that the Collaboration Agreement referred to in Schedule 6.02(a) satisfies this milestone.

Required Milestones. The Loan Parties covenant and agree as follows: (a) On or before September 30, 2017, the Parent shall have raised at least $15,000,000 in cash common equity upon terms and conditions reasonably satisfactory to the Lender (of which at least $10,000,000 shall have been contributed by Persons that are not Affiliates of the Lender). (b) One or more of the following shall have occurred: (i) closing of a business development deal around Parent’s cytomegalovirus (“CMV”) program for either a prophylactic or therapeutic indication on or before M▇▇▇▇ ▇▇, ▇▇▇▇, (▇▇) approval by a regulatory body to begin enrollment in a Phase II CMV trial in either the congenital or the transplant setting on or before June 30, 2018, or (iii) approval by a major market regulatory body (either Health Canada, European Medicines Agency or the US FDA) to begin enrollment in a Phase III Hepatitis B clinical trial of Sci-B-Vac on or before March 31, 2018.

Required Milestones. Purchaser shall pay the Total Principal Amount in three (3) tranches in the amounts of One Million Dollars (USD $1,000,000) (the “First Tranche”), Five Hundred Thousand Dollars (USD $500,000) (the “Second Tranche”), and Five Hundred Thousand Dollars (USD $500,000) (the “Third Tranche”) upon the performance of the following milestones by the Company: 4.3.1 Completion a pre-Investigational Drug Application (the “pre-IND”) with the U.S. Food and Drug Administration (the “FDA”) for an interferon drug candidate; 4.3.2 Execution of a Memorandum of Understanding with a licensing partner with respect to the Company’s product(s); and 4.3.3 Execution of a licensing agreement for either the (i) development, (ii) manufacture, (iii) sales and marketing with respect to the Company’s product(s). 4.3.4 The milestones stated above under sub-sections 4.3.1 through 4.3.3 are not listed in order, priority or in any particular sequence. The initial performance by the Company of any one of the milestones shall satisfy the payment obligations for the First Tranche; similarly the satisfaction of any of other milestones (in any order or sequence) shall trigger the payment obligations for the applicable Second Tranche and applicable Third Tranche, respectively.

Required Milestones. No later than 1 business day after the Petition Date, the Debtors shall have filed the Plan and Disclosure Statement (each as defined in the RSA); • No later than 3 business days after the Petition Date, the Bankruptcy Court shall have entered this Interim DIP Order in the form attached as Exhibit A to the DIP Term Sheet and otherwise acceptable to the Required Backstop Parties (as defined in the DIP Term Sheet); • No later than 3 business days after the Petition Date, the Bankruptcy Court shall have entered an interim Securitization Facilities Order, which order shall be in form and substance satisfactory to the Required DIP Lenders; • No later than 45 calendar days after the Petition Date, the Bankruptcy Court shall have entered the Final DIP Order, which shall contain customary modifications to this Interim DIP Order to reflect the final nature of the approval set forth therein and shall otherwise be acceptable to the Required DIP Lenders; • No later than 45 calendar days after the Petition Date, the Bankruptcy Court shall have entered a final Securitization Facilities Order, which order shall be in form and substance satisfactory to the Required DIP Lenders; • No later than 50 calendar days after the Petition Date, the Bankruptcy Court shall have entered an order confirming the Plan and approving the Disclosure Statement; and • No later than 120 calendar days after the Petition Date, the effective date of the Plan shall have occurred. The terms set forth in this Summary of Principal Terms and Conditions (the “New First Out/Second Out Term Sheet”) are being provided as part of a comprehensive proposal, each element of which is consideration for the other elements and an integral aspect of the proposed New First Out Loans and the New Second Out Loans. Capitalized terms used but not defined herein have the meanings ascribed to such terms in the Restructuring Support Agreement (the “RSA”) to which this New First Out/Second Out Term Sheet is attached as Exhibit D. Borrower: CURO Group Holdings Corp., a Delaware corporation (or, to the extent that a new parent is established as part of the Restructuring Transactions, such parent) (the “Borrower”).

Required Milestones. The Loan Parties shall comply with each of the covenants on Schedule 5.17 upon the terms and at the times provided for therein.

Required Milestones. Licensee shall be required to do each of the following (each a “Milestone” and collectively, the “Milestones”) during the Term: (a) Licensee shall utilize its best efforts to obtain a license for the manufacture of Products in the State of California under the California Medical Marijuana Regulation and Safety Act (the “MMRSA”) or enter into a sub-contracting or similar arrangement with an entity that has obtained such licensing under the MMRSA (a “Third Party Licensee”) such that Licensee is permitted to manufacture Products within the Licensed Territory through such Third Party Licensee; (b) Licensee shall utilize its best efforts to obtain any local city or county licenses or permits necessary for the Licensee to legally manufacture Products within the Licensed Territory or enter into a sub-contracting or similar arrangement with a Third Party Licensee having such local city or county licenses or permits such that Licensee is permitted to manufacture products within the Licensed Territory through such Third Party Licensee; (c) Licensee shall utilize its best efforts to build or obtain a distribution network for the sale of Products within the Licensed Territory; (d) Licensee shall be required to achieve minimum gross sales of Products equal to the Minimum Gross Sales Target for each calendar year during the Term.