Extension Milestone means Borrower has delivered evidence acceptable to Bank that Borrower has received aggregate gross Cash proceeds of not less than $125,000,000 from the issuance of Borrower’s equity securities and/or upfront Cash proceeds from strategic partnerships on terms and conditions reasonably satisfactory to Bank.
Extension Milestone means Borrower has delivered evidence acceptable to Bank that Borrower has received, during the twelve-month period beginning on March 1, 2019, aggregate gross Cash proceeds of not less than $175,000,000 from the issuance of Borrower’s equity securities on term and conditions, and from investors, satisfactory to Bank. Bank acknowledges that the Extension Milestone has been achieved on or prior to the Closing Date.
Extension Milestone means You have achieved (i) revenue in excess of One Hundred Million Dollars ($100,000,000) for the twelve (12) month period immediately preceding the Interest Only End Date and (ii) cash flow positive for nine (9) of the twelve (12) months immediately preceding the Interest Only End Date.
Examples of Extension Milestone in a sentence
Where, in relation to a lease or tenancy, a necessary party is unknown or unascertained, the Court may, on the application of any person concerned, appoint any person who is receiving the rent in respect of the applicant's interest in the premises, or such other person as the Court may think fit, to represent such unknown or unascertained person in all proceedings in connection therewith and may appoint and empower an officer of the Court to execute the lease or tenancy on behalf of the necessary party.
We may approve, in Our sole discretion, the Initial Extension in the absence of Your completion of the Availability Period Extension Milestone.
We may approve, in Our sole discretion, the Second Extension in the absence of Your completion of the Availability Period Extension Milestone.
Lenders acknowledge and agree that, as of the date of this Amendment, Borrower has satisfied the Interest-Only Extension Milestone, as amended by this Amendment.
Chief Executive Officer’s Report Mr. Banta provided an update which included the following: Clean Air Campaign Winners Valley Metro Seeks Input on Proposed April 2016 Service Changes Northwest Extension Milestone Event Rail-Volution – Plano Tour APTA 2016 International Rail Rodeo Committee Between- Car Barriers Procurement of Contracts SCADA Introduction of Michael Minnaugh Mr. Banta said Mr. Chairman, I'd like to introduce Mr. Michael Minnaugh who sits to my left now.
More Definitions of Extension Milestone
Extension Milestone means Borrowers’ delivery to Bank of evidence, in form and substance satisfactory to Bank in its reasonable discretion, that (1) no Event of Default that has not been cured, pursuant to the terms of this Agreement, or waived in writing by Bank has occurred after the Third Amendment Date, and (2) Borrowers have, on a consolidated basis, achieved a ratio of (a) Collateral Value to (b) the sum of (i) the aggregate amount outstanding under the Term Loan, plus (ii) the Revolving Line equal to at least 1.5 to 1.0.
Extension Milestone means Borrowers’ delivery to Bank of evidence, in form and substance satisfactory to Bank in its reasonable discretion, that (1) no Event of Default that has not been cured, pursuant to the terms of this Agreement, or waived in writing by Bank has occurred after the Third Amendment Date, and (2) Borrowers have, on a consolidated basis, achieved a ratio of
Extension Milestone means (i) no Event of Default has occurred and is continuing, and (ii) the Second Tranche Term Commitments and Third Tranche Term Commitments have been fully funded in accordance with the terms of this Agreement, and Borrowers have received net cash proceeds from equity financings and/or in the form of upfront and milestone payments from business development transactions, which, in the aggregate are sufficient to fund the operations of Parent and its Subsidiaries through completion of the first Phase 3 study of pegozafermin (“PGZ”) in Severe Hypertriglyceridemia (“SHTG”), based on an operating plan approved by the Parent’s Board subject to Administrative Agent’s reasonable review and approval thereof.
Extension Milestone means that Borrowers shall have delivered to Bank a duly executed bona fide term sheet with respect to an equity investment involving the issuance of preferred stock (not including proceeds from the conversion or cancellation of Indebtedness) which would result in net cash proceeds in an amount not less than $15,000,000, all on terms and from investors satisfactory to Bank. “Fee in Lieu of Warrant” is, with respect to the Term Loan, an additional fee in an amount equal to $162,000.
Extension Milestone set forth in Section 13.1 of the Loan Agreement and all references thereto in the Loan Agreement are hereby deleted in their entirety.
Extension Milestone means the date, no later than June 30, 2020, on which Borrower has delivered to Bank evidence in the form and substance acceptable to Bank in its sole discretion, that Borrower has received aggregate net new capital of at least Forty Million Dollars ($40,000,000). “Final Payment” is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest) due on the earliest to occur of (a) the Term Loan Maturity Date, or (b) the acceleration of the Term Loan Advances, or (c) the prepayment of the Term Loan Advances in full pursuant to Section 2.3(c) or 2.3(d), equal to the original aggregate principal amount of the Term Loan Advances multiplied by the Final Payment Percentage. “Final Payment Percentage” is five and one-half of one percent (5.50%). “Foreign Currency” means lawful money of a country other than the United States. “Funding Date” is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day. “FX Contract” is any foreign exchange contract by and between Borrower and Bank under which Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency on a specified date. “GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of the accounting profession, which are applicable to the circumstances as of the date of determination. “General Intangibles” is all “general intangibles” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all Intellectual Property, claims, income and other tax refunds, security and other deposits, payment intangibles, contract rights, options to purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance policies (including without limitation key man, property damage, and business interruption insurance), payments of insurance and rights to payment of any kind. “Good Faith Deposit” is defined in Section 2.5(a). “Governmental Approval” is any consent, authorization, approval, order, license, franchise, permit, certificate, accredit...
Extension Milestone is the date on which Bank receives and approves evidence satisfactory to Bank, in Bank’s sole and absolute discretion, on or before the Conversion Date, that for the fiscal year ended December 31, 2018, (i) Borrower has received gross revenue of at least Fifty-Four Million Eight Hundred Ninety-Three Thousand Eight Hundred Dollars ($54,893,800), and (ii) Borrower has achieved an EBIDA loss of no greater than Seven Million Three Hundred Sixty-Seven Thousand Eighty-Eight Dollars ($7,367,088).