Equity Milestone II definition

Equity Milestone II means Borrower’s receipt, after February 1, 2014 but on or before August 1, 2014, of net Cash proceeds of at least $4,000,000 from the sale or issuance of Borrower's equity securities to investors acceptable to Bank, which acceptance will not be unreasonably withheld.
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Equity Milestone II means (a) no Event of Default shall have occurred and be continuing and
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Equity Milestone II means that Administrative Agent has received evidence satisfactory to Administrative Agent that Xxxxxxxx has received not less than Seventy-Five Million Dollars ($75,000,000.00) (not including proceeds (i) from the conversion or cancellation of Indebtedness in existence on the Closing Date and (ii) in connection with Equity Milestone I) in net cash proceeds from the sale and issuance of Borrower’s equity securities pursuant to an equity financing of Borrower having a lead investor which is a recognized venture capital, private equity or similar institutional investor, after the Closing Date, but no later than January 1, 2025.
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Related to Equity Milestone II

  • 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.

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

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

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

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

  • Milestone Event has the meaning set forth in Section 8.4.

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

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

  • 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 Events has the meaning set forth in Section 3.3 (Milestone Payments).

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

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

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

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

  • Milestone Payment means a payment identified in the Implementation Plan to be made following the issue of a Satisfaction Certificate in respect of Achievement of the relevant Milestone;

  • Milestones means control points in the project that help to chart progress. Milestones may correspond to the completion of a key deliverable, allowing the next phase of the work to begin. They may also be needed at intermediary points so that, if problems have arisen, corrective measures can be taken. A milestone may be a critical decision point in the project where, for example, the consortium must decide which of several technologies to adopt for further development.

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").

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

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

  • Class C Par Value Test means the test which will be satisfied as of any Measurement Date if, on such Measurement Date, the Class C Par Value Ratio is at least equal to the percentage specified in the definition of "Coverage Test".

  • Performance Measurement Period has the meaning set forth in Section 3.1(e)(ii).

  • Performance Target means the level of performance expected of the HSP in respect of a Performance Indicator or a Service Volume; “person or entity” includes any individual and any corporation, partnership, firm, joint venture or other single or collective form of organization under which business may be conducted;

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.

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

  • Additional Accelerated Purchase Minimum Price Threshold means, with respect to an Additional Accelerated Purchase made pursuant to Section 2(c) hereof, any minimum per share price threshold set forth in the applicable Additional Accelerated Purchase Notice.

  • AHYDO Catch-Up Payment means any payment, including payments made on subordinated debt obligations, in each case to the extent such payment is necessary to avoid the application of Section 163(e)(5) of the Code.