Draw Period Milestone definition

Draw Period Milestone means confirmation by Agent that Borrower has received, after the date of the Amendment but prior to December 1, 2015, unrestricted and unencumbered net cash proceeds in an amount of at least Ten Million Dollars ($10,000,000,00) from the issuance and sale by Borrower of its equity securities with investors reasonably acceptable to Agent, milestone payments related to strategic partnerships, and grants, or a combination thereof (but shall exclude Five Million Dollars ($5,000,000.00) received by Borrower in January 2015 in conjunction with its relationship with bioMerieux).
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Draw Period Milestone is the achievement, after the Closing Date but prior to December 31, 2017, of receipt by Borrower of at least Fifteen Million Dollars ($15,000,000) of New Equity.
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Draw Period Milestone is the receipt (or in the case of a grant, the expected receipt) by Co-Borrowers of net cash proceeds of not less than Forty Million Dollars ($40,000,000), in the aggregate, from a secondary offering, PIPE or ATM partnerships, and/or a grant which shall be received no later than twelve (12) months after the awarding of such grant.
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Examples of Draw Period Milestone in a sentence

  • If Borrower requests and Bank makes the Term B Loan and Borrower fails to achieve the Term C Draw Period Milestone 2 by no later than March 31, 2019, then Borrower shall immediately cash secure not less than the lesser of the outstanding balance or Fifteen Million Dollars ($15,000,000) of the principal balance of all outstanding Indebtedness under the Term Loans in the Pledged Account (a “Cash Collateralization”) until such time that Borrower has achieved the Cash Collateralization Release Milestone.


More Definitions of Draw Period Milestone

Draw Period Milestone. “Market Capitalization”, “Term A Loan”, “Term B Loan”, “Trading Day”
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Related to Draw Period Milestone

  • Milestone Date means the date set against the relevant Milestone in the Implementation Plan;

  • Milestone 2 means achievement of annual Net Sales of at least $35,000,000 during any Calendar Year ending on or before December 31, 2024.

  • Draw Period is the period of time from the Effective Date through the earlier to occur of (a) June 30, 2012, or (b) an Event of Default.

  • Second Draw Period is the period commencing on December 1, 2015 and ending on the earlier of (i) January 31, 2016 and (ii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on December 1, 2015, an Event of Default has occurred and is continuing.

  • Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.

  • Project Milestone means the project milestone set forth in Schedule-J;

  • Development Milestone Event has the meaning set forth in Section 7.2.1.

  • Development Milestone is defined in Section 5.3.

  • Milestone Event has the meaning set forth in Section 8.2.1.

  • Sales Milestone Payment shall have the meaning set forth in Section 8.4.

  • Development Milestone Payment shall have the meaning set forth in Section 9.2(a).

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Milestone 1 means achievement of annual Net Sales of at least $20,000,000 during the Calendar Year ending on December 31, 2021.

  • Milestone means an event or task described in the Implementation Plan which must be completed by the corresponding date set out in such plan;

  • Milestone Payment Date has the meaning set forth in Section 2.4(a).

  • Project Milestones means the project milestones set forth in Schedule-G;

  • Milestone Events has the meaning set forth in Section 7.2.

  • Final Completion Date means the date on which Final Completion occurs.

  • Milestone Failure means a failure by the Grant Recipient fully to achieve any Milestone by the relevant Milestone Date;

  • Milestone Payment has the meaning set forth in Section 4.2.

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Draw Date means, with respect to any Insured Distribution Date, the third Business Day immediately preceding such Insured Distribution Date.

  • Leverage Increase Period has the meaning specified in Section 7.11(a).

  • First Year means the intake group of Students for the most junior class or year in a school.

  • Milestone Schedule means Seller’s milestone schedule, the form of which is attached to this Agreement as Exhibit Q.