Corporate Development Transaction definition

Corporate Development Transaction means the Company’s license or acquisition of a technology, product, product candidate, medical device or company (provided that such license or acquisition occurs primarily through Executive’s efforts or the efforts of the Company, rather than through the efforts of Fortress Biotech or Opus Point Partners, or is first identified and brought to the Company’s attention by Executive). The Company’s Board will have the exclusive discretion to determine whether a transaction qualifies as a Corporate Development Transaction, and the Board will not fail to approve a transaction recommended by the Executive Chairman as a Corporate Development Transaction without reasonable justification. For avoidance of doubt, the parties intend that the Additional Shares will vest on the same schedule as the Initial Shares, as though the Additional Shares had been granted on the same date as the Initial Shares, with the result that Additional Shares subject to time vesting may be vested upon grant.

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Corporate Development Transaction means the license (including a co-marketing license agreement) or purchase of a technology, product, product candidate, or medical device by the Company from an unaffiliated third party entity, provided that such license, purchase, sale or investment occurs primarily as a result of Executive's efforts on the Company's behalf during the Term through Executive's own direct outreach or his network of contacts outside the Company ( as opposed to Corporate Development Transactions uncovered by other Company agents or that are sent to other Company agents through Company contacts such as board members, bankers, etc.) as determined by the Board in its sole discretion.

Corporate Development Transaction means a strategic business development or corporate transaction between Parent and/or any Subsidiary Guarantor, on the one hand, and one or more third parties, on the other hand, including without limitation research and development and/or commercial collaborations or partnerships, licenses of Intellectual Property, government contracts, and Lender-approved sales of an asset.

Examples of Corporate Development Transaction in a sentence

The final third will vest in two equal installments as follows: (i) one installment will vest upon the earlier of (A) the Company’s first Corporate Development Transaction (as defined below) or (B) the first FDA approval of a Company product or medical device, and (ii) the second installment will vest upon the earlier of (A) the Company’s second Corporate Development Transaction (as defined below) or (B) a second FDA approval of a Company product or medical device.
The Company’s Board will have the exclusive discretion to determine whether a transaction qualifies as a Corporate Development Transaction, and the Board will not fail to approve a transaction recommended by the Executive Chairman as a Corporate Development Transaction without reasonable justification.
Upon the closing by the Company of a Corporate Development Transaction (as defined below) occurring during the Term, the Company will issue to Executive shares of common stock in the Company representing fifteen percent (15%) of the total outstanding shares of common stock as of the date of the closing, subject to a Company repurchase right that lapses as the shares vest in accordance with the schedule below (the "Shares").

More Definitions of Corporate Development Transaction

Corporate Development Transaction means a transaction pursuant to which the Manager or the applicable Sub-Manager, on behalf of one or more Securitization Entities develops a restaurant (either alone or in partnership with one or more Franchisees) and subsequently sells such restaurant to one or more Franchisees for cash, a Franchisee Promissory Note, other non-cash consideration agreed by the Manager or the applicable Sub-Manager in accordance with the Managing Standard or any combination thereof.