Satisfaction of Milestones. (a) Access Right Holder must notify EnergyCo within 5 Business Days after satisfying a Milestone or Energisation Condition.
Satisfaction of Milestones. With respect to Tranches II through IX, the Borrower shall have delivered a certificate of the General Director of the Borrower, in form and substance satisfactory to the Lender, certifying that the Borrower has, for the immediately preceding calendar month, achieved or exceeded the required operating benchmarks set forth on Schedule I hereto, together with such supporting information, worksheets and documentation as the Lender may reasonably request in connection therewith.
Satisfaction of Milestones. Parent, using its reasonable and good faith discretion, shall determine whether or not each Milestone has been fully satisfied (“Satisfied” or “Satisfaction”) and the date upon which such Satisfaction occurs (with respect to each Milestone, the “Satisfaction Date”). Parent shall consult in good faith with Member Representative when determining whether or not each Milestone has been Satisfied. This Section 2.15 shall not impose or imply any restriction or limitation on Parent’s right to conduct its business in its sole and absolute discretion. The Parent, itself or through one or more of its Affiliates, will use Commercially Reasonable Efforts to achieve each of the Milestones. For purposes of this Section 2.15(b), “Commercially Reasonable Efforts” means with respect to the efforts to be expended by Parent and its Affiliates with respect to the Milestones, reasonable, diligent, good faith efforts to accomplish any such Milestones as is commonly used in the biotechnology industry generally to accomplish a similar objective under similar circumstances by companies of similar size with similar resources as Parent, and such efforts will be substantially equivalent to those efforts and resources commonly used in the biotechnology industry generally by a biotechnology company for a product owned by it or to which it has rights, that is at a similar stage in its development and is of similar market potential as MPS-IIIA or MPS-IIIB taking into account efficacy, safety, approved labeling, the competitiveness of alternative products in the marketplace, the patent and other proprietary position of the product, the likelihood of regulatory approval, the profitability and commercial potential of the product, but without regard to any Milestone Payment due to be paid to the Members hereunder.
Satisfaction of Milestones. Either Milestone 1 or Milestone 2 shall have been satisfied prior to the Closing Date.
