First Milestone Event definition

First Milestone Event means the occurrence of the following event: the closing share price of the shares of Parent Common Stock over any twenty (20) consecutive Trading Days during the First Earnout Period is greater than or equal to $16.50 per share (subject to any adjustment pursuant to Section 3(c)).

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First Milestone Event means that (a) no Event of Default shall have occurred and be continuing, and (b) Agent shall have confirmed each of the following on or prior to December 31, 2017 (which confirmation may require supporting documentation reasonably requested by Agent): (i) that Borrower has received, after June 30, 2017 but on or prior to December 31, 2017, unrestricted and unencumbered (including, not subject to any redemption, clawback, escrow or similar restriction or encumbrance) upfront net cash proceeds in a minimum amount of at least Ten Million Dollars ($10,000,000.00) in connection with the issuance and sale by Oak Street Health of its equity securities to investors reasonably acceptable to Agent (it being acknowledged and agreed that members of Oak Street Health as of the Closing Date shall be deemed reasonably acceptable to Agent), and (ii) that Borrower has achieved, with respect to any six (6) calendar month period ending after the Closing Date but on or prior to December 31, 2017, aggregate net revenue, determined in accordance with GAAP, of greater than or equal to Eighty Million Dollars ($80,000,000.00).

First Milestone Event is receipt by Bank of evidence, satisfactory to Bank in its sole and absolute discretion, that Borrower has entered into a binding contract with Xtera to fulfill an order for one hundred (100) units, pursuant to which Borrower has received commitment fees in an amount of at least Eight Hundred Thousand Dollars ($800,000).

Examples of First Milestone Event in a sentence

The First Milestone Event shall result in the Second Closing, as defined in the Stock Purchase Agreement.
Encarta hereby acknowledges and agrees that the payment of the First Milestone Payment and execution and delivery of the Common Stock Warrant Agreement in accordance with this Section 7 shall be timely and in full satisfaction of Verastem’s obligations under Sections 4.2 and 4.3 of the Verastem License Agreement solely with respect to the First Milestone Event.
Vizsla shall use commercially reasonable efforts to achieve the First Milestone Event within two years of the Closing Date.
In addition, Weiss shall be entitled to receive two (2) one-time only bonuses ("S▇▇▇▇▇l Bonuses") upon the achievement of each of the First Milestone Event and the Second Milestone Event (each as defined below), in the amount of $1,000,000 and $2,000,000 (less applicable state and federal withholdings), respectively, provided that Weiss may only receive each Special Bonus if, on the date the releva▇▇ ▇▇lestone Event is achieved, he is employed by the Corporation as an officer or director.
Notwithstanding the foregoing, in the event that, within ninety (90) days of satisfaction of the First Milestone Event, Buyer has not paid the First Milestone Payment, then the First Milestone Payment shall not be payable, and Seller shall have the right, within thirty (30) days thereafter, to require Buyer to sell the Acquired Assets to Seller for consideration of $1 by giving written notice to Buyer.

More Definitions of First Milestone Event

First Milestone Event means confirmation by Agent that Borrower has received, after July 21, 2014, but on or prior to October 15, 2014, unrestricted and unencumbered gross cash proceeds in an amount of equal to or greater than Fifteen Million Dollars ($15,000,000) from the issuance and sale by Borrower of its equity securities and/or Subordinated Indebtedness in a transaction or a series of transactions in each case with Borrower’s existing investors and investors reasonably acceptable to Agent.

First Milestone Event shall have the meaning set forth in Section 4.2 hereof.

First Milestone Event means the achievement of the research and development milestone described as the “First Milestone” in Exhibit E.

First Milestone Event means the dosing of the first patient at the first trial site for a Phase 2 Clinical Trial for the Initial

First Milestone Event means the Kalera Ordinary Shares trading on Nasdaq with a VWAP greater than or equal to $12.50 for any twenty (20) trading days within any consecutive thirty (30)-day trading period during the Milestone Period.

First Milestone Event means the VWAP of the shares of Common Stock over any twenty (20) Trading Days within any thirty (30) Trading Day period during the Earnout Period is greater than or equal to $12.50 per share (subject to any adjustment pursuant to Section 3(e)).

First Milestone Event means the exercise of any Option by Canam;