Second Milestone. Within [***] ([***]) days after the earlier of (i) the date of first receipt of [***] for a Product for [***] and (ii) the date that is [***] ([***]) days after the date of [***], such date being the “Second Milestone,” Parent shall pay to the Company Stockholders a non-refundable, non-creditable milestone payment in the aggregate amount of [***] Dollars ($[***]) in cash, less any deduction pursuant to Section 8.6(c) and less [***] of the Assumed Company Payables (the “Second Milestone Payment Amount”), with such payment allocated among the Company Stockholders in accordance with Section 2.8.
Second Milestone. Upon the earlier of (x) Buyer’s receipt of a first lot to stock constituting at least 100 units of commercializable Deflectable Catheter Products or (y) [***] (such earlier date, the “Second Milestone Date”) Buyer shall pay the additional, aggregate amount of $[***] to Seller, within three (3) business days following the Second 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.
Second Milestone. Any of the following: · the completion by Licensee or its Affiliate of a phase I clinical trial within thirty-six (36) months following the filing of the IND · Licensor having the right to perform a disc procedure in the United States within thirty-six (36) months following the Effective Date · One Million Dollars ($1,000,000) in aggregate cumulative gross sales for Licensee and its Affiliates within thirty-six (36) months following the Effective Date
Second Milestone. Upon a “discovery” outside of the Oyo Field under the PSC, CEI shall retain the Contract Rights (the “Second 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 Consideration Shares) within fifteen (15) days after the discovery of Hydrocarbons (as defined in the PSC) outside of the Oyo Field (the “Second Milestone Consideration”). For purposes of this Section 3.1(b), a “discovery” shall mean the discovery of an accumulation of Hydrocarbons in sufficient quantities to warrant the commercial development thereof whose existence until that moment was unproven by drilling.
Second Milestone. The City of Cambridge Approves for Issuance the Building Permit to commence construction of the Base Building Work. Landlord shall use commercially reasonable best efforts to achieve the Second Milestone no later than the Second Milestone Date. Second Milestone Date: August 25, 2017, provided that the Second Milestone Date may be extended until October 25, 2017 if (i) Landlord has, prior to August 25, 2017, begun demolition (meaning thereby the removal of one or more external walls) of the 11CC Building, or (ii) Landlord can demonstrate, to Tenant’s reasonable satisfaction, that Landlord can still achieve the Substantial Completion Date on or before the Estimated Commencement Date (such demonstration to include the execution of a written contract(s) between Landlord and the General Contractor (as hereinafter defined) under which the General Contractor agrees to achieve Substantial Completion of Landlord’s Work on or before the Estimated Commencement Date based upon the assumption that the work under such contract(s) (which shall together cover all of Landlord’s Work) is commenced no sooner than October 25, 2017). The Second Milestone Date shall be extended by any period of time which Landlord is actually delayed in achieving the Second Milestone by reason of Tenant Delay but not by any period of Force Majeure. Tenant’s Termination Expenses Cap: Three Million Five Hundred Thousand and 00/100 Dollars ($3,500,000.00) Remedy:
Second Milestone. Upon the earlier to occur of (i) the Date of Enrollment of the first patient in the first Phase 3 Clinical Trial, (ii) the acceptance for filing by the FDA of a New Drug Application submitted by or on behalf of Buyer or an Affiliate or licensee or development partner thereof in respect of the Product Candidate, (iii) a Change of Control, so long as Buyer or an Affiliate has not terminated the development of the Product Candidate and terminated the BioVascular License Agreement, or (iv) entry into of a Strategic Collaboration Agreement by Buyer or an Affiliate thereof, 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 “Second Milestone”).
Second Milestone. If the Company’s stock has traded on a Qualified Exchange with a closing price of $3.75 or more for twenty (20) trading days out of the last thirty (30) trading days with an average daily trading volume of at least 70,000 shares, measured on December 31, 2010, (“Second Milestone”) five hundred thousand (500,000) Escrow Shares shall be released back to the Principal Shareholders pro rata.
Second Milestone. From and after the date SVB achieves the Second Milestone, SVB shall be eligible to receive the lesser of (ii) two-thirds (2/3) of the aggregate amount in each Cateogry of Reimbursement (e.g., $200,000 of the Construction Sales Tax Reimursement), or (ii) the total Reimbursement amount actually earned to date for such Category of Reimbursement, less the actual Reimbursement amount previously paid to SVB for such Cateogry of Reimbursement. The foregoing formula shall apply to each separate Cateogry of Reimursement.
Second Milestone. Upon discovery of hydrocarbons outside of the Oyo Field under the PSC in sufficient quantities to warrant the commercial development thereof, CEI may elect to retain the Contract Rights (the “Second Milestone Option”) upon payment to Allied of $5 million (either in cash, or at Allied’s option, in Shares) (the “Second Milestone Consideration”);
Second Milestone. The second Milestone shall be deemed to have been attained if the Parent (including its subsidiaries) and the Surviving Company shall have attained (either alone or together) each of the following within one hundred eighty (180) days after the Closing Date (the "Second Milestone Termination Date"):
