Financing Milestone definition

Financing Milestone means the date set forth on the Cover Sheet for Seller to satisfy the following requirements demonstrating the Facility’s eligibility for the PTC: delivery of evidence to Buyer that the Facility commenced construction in 2016.

Financing Milestone means the date set forth on the Cover Sheet for Seller to satisfy the following requirements demonstrating the Facility’s eligibility for the [ITC/PTC] by [Seller to propose suggested criteria for establishing eligibility, e.g., safe harboring of equipment prior to sunset dates, tax counsel opinion, etc.].

Financing Milestone means Borrowers’ receipt of at least $5,000,000 in cash proceeds from the sale and issuance of its equity securities (or convertible note securities that are subject to a subordination agreement in form and substance satisfactory to Lenders).

Examples of Financing Milestone in a sentence

• The Company shall have consummated an initial Offering pursuant to the Purchase Agreement and pursuant to which the Company shall have raised in the aggregate at least $25,000,000 of gross proceeds (the “Financing Milestone”); provided that the Total Purchase Price set forth in this Agreement shall not be considered for the purpose of determining the Company’s satisfaction of the Financing Milestone.

• For the sake of clarity, if Borrowers achieve the Financing Milestone prior to June 1, 2019, no Back-End Fee shall be due or payable.

• On June 1, 2019 and on the first day of each month thereafter until Borrowers achieve the Financing Milestone, Borrowers shall pay to Lenders a cash fee equal to five percent (5%) of the aggregate Advances that are outstanding as of such date (each, a “Back-End Fee”).

• As and when there is Available Cash and after the Financing Milestone has been received, subject to receipt of a Vote of the Board, the Company shall repay the Advances, if any, including without limitation, as to principal and interest.

• The definitive agreements with respect to the First Boeing Investment shall also include a registration rights agreement in substantially, but in any case on terms not less favorable to Boeing than as set forth in, the form attached hereto as Exhibit B, pursuant to which Boeing and its Affiliates would receive customary registration rights relating to the resale of such securities (such form with such terms, a “Registration Rights Agreement”).

More Definitions of Financing Milestone

Financing Milestone. Has the meaning set forth in Section 4.3(b)(ii).

Financing Milestone means the date set forth on the Cover Sheet for Seller to satisfy the obligations set forth in Section 2.5.

Financing Milestone has the meaning set forth in Appendix I.

Financing Milestone means the date set forth on the Cover Sheet for Seller to provide Buyer a tax counsel opinion on the Generating Facility’s eligibility for the ITC.

Financing Milestone means Company’s raise of $1,000,000 (One Million Dollars) or more in equity and/or convertible debt.

Financing Milestone. Condition Precedent. The effectiveness of the grant under Article 2 of this Agreement is conditioned upon Company achieving the FINANCING MILESTONE on or before that day that is nine (9) months after the EFFECTIVE DATE (or upon any later date as Company and JHU may hereafter agree in writing). Upon Company’s achievement of the FINANCING MILESTONE, Company shall so inform JHU in writing and this Agreement shall be deemed to be effective as of the EFFECTIVE DATE. Prior to the achievement of the FINANCING MILESTONE, Articles 4, 8, 9, and 10 shall apply. In the event that the FINANCING MILESTONE is not achieved prior to the deadline stated in this Paragraph 2.4, this Agreement shall thereupon and thereafter be null and void except for any pre-termination obligations of Company under Paragraphs 3.8 and 4.1.

Financing Milestone means satisfaction of each of the following events: (a) no Event of Default shall have occurred and be continuing; and (b) Parent has received at least One Hundred Fifty Million Dollars ($150,000,000.00) in cumulative unrestricted (including, not subject to any redemption, clawback, escrow or similar encumbrance or restriction) cash proceeds from one or more bona fide equity financings, Subordinated Indebtedness (which, for the avoidance of doubt, may include the net proceeds received from the NovaQuest Note Documents) and/or upfront net cash proceeds from corporate collaborations, licensing arrangements or similar arrangements, in each case, after October 1, 2017 and prior to December 31, 2018, subject to verification by Agent (including supporting documentation requested by Agent) in its reasonable discretion , but excluding, for the avoidance of doubt, any proceeds received under this Agreement or any other Loan Document.