Initial Milestone Payment definition

Initial Milestone Payment means the payment by Nordic of an additional $1,250,000 to Newco after the satisfaction of the Initial Payment Milestone (as defined in the Contribution Agreement).
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Initial Milestone Payment has the meaning given to it in Section 6.1.1 (Cash and Equity Consideration).
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Initial Milestone Payment has the meaning set forth in Section 8.1(b)(i).
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Examples of Initial Milestone Payment in a sentence

  • If Company terminates this Agreement under this Section 12.5 due to Distributor’s failure to maintain the Distributor Approvals, then Initial Milestone Payment 2 and Milestone Payment 2 shall not be adjusted or refunded and no Minimum Purchase Requirement or True-Up Payment obligations shall apply to such sixty (60) day period (but shall apply with respect to prior periods on a pro rata basis).

  • If Cempra defaults in the making of any payment as and when due hereunder (including without limitation the payment the Initial License Fee, any Research Funding Payment, any Initial Milestone Payment, Second License Fee or Royalty Payment) MP shall have the right to terminate this Agreement by written notice to Cempra if such non-payment is not cured within thirty (30) Business Days of written notice given by MP to Cempra specifying such non-payment.

  • The Initial Milestone Payment shall be made to MGI by wire transfer (according to instructions provided to Dainippon by MGI) immediately upon the Effective Date.

  • If Company terminates this Agreement under this Section 12.5 due to Distributor’s failure to maintain the Distributor Approvals, then Initial Milestone Payment 2 and Milestone Payment 2 shall not be adjusted or refunded and no Minimum Purchase Requirement or True-Up Payment obligations shall apply to such [*] period (but shall apply with respect to prior periods on a pro rata basis).

  • Notwithstanding anything to the contrary in this Section 3, Licensor shall have final decision authority on and be responsible for any development work in relation to the Product conducted in accordance with the Development Plan and performed prior to the payment of the Initial Milestone Payment.

  • If a Party timely provides its notice of termination under this Section 12.7.1, then this Agreement shall terminate [*] from the date of the Party’s written notice of termination and, for the avoidance of doubt, Initial Milestone Payment 2 and Milestone Payment 2 shall not be made and no Minimum Purchase Requirement shall apply during such [*] period.

  • If a Party provides its notice of termination under this Section 12.8.2, then this Agreement shall terminate [*] from the date of the Party’s written notice of termination and, for the avoidance of doubt, Initial Milestone Payment 2 and Milestone Payment 2 shall not be adjusted or refunded and no Minimum Purchase Requirement or True-Up Payment obligations shall apply during such [*] period (but shall apply with respect to prior periods).

  • Upon a Party giving notice of termination under this Section 12.6.1, this Agreement shall terminate one (1) year from the date of the notice of termination and, for the avoidance of doubt, Initial Milestone Payment 2 and Milestone Payment 2 shall not be made and no Minimum Purchase Requirement shall apply during such one (1) year period.

  • Upon a Party giving notice of termination under this Section 12.6.1, this Agreement shall terminate [*] from the date of the notice of termination and, for the avoidance of doubt, Initial Milestone Payment 2 and Milestone Payment 2 shall not be made and no Minimum Purchase Requirement shall apply during such [*] period.

  • If a Party provides its notice of termination under this Section 12.8.2, then this Agreement shall terminate one (1) year from the date of the Party’s written notice of termination and, for the avoidance of doubt, Initial Milestone Payment 2 and Milestone Payment 2 shall not be adjusted or refunded and no Minimum Purchase Requirement or True-Up Payment obligations shall apply during such one (1) year period (but shall apply with respect to prior periods).


More Definitions of Initial Milestone Payment

Initial Milestone Payment shall instead mean $US50 million in cash.
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Initial Milestone Payment has the meaning set for in Part A of Schedule C.
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Related to Initial Milestone Payment

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

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

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

  • 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).

  • Milestone Payments means payments made in connection with any Permitted Acquisition or other acquisition (including any license or the acquisition of any license) of any rights in respect of any drug or other pharmaceutical product (and any related property or assets) to sellers (or licensors) of the assets or Equity Interests acquired (or licensed) therein based on the achievement of specified revenue, profit or other performance targets (financial or otherwise).

  • Development Milestone is defined in Section 5.3.

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

  • 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 Event has the meaning set forth in Section 8.2.1.

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

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

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

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

  • 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.

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

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

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

  • Milestone Notice 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;

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

  • 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").

  • KPI Target means the acceptable performance level for a KPI as set out in each KPI;

  • Initial Indication means the use of a Product for the treatment of opioid addiction.

  • Sublicense Fees shall have the meaning set forth in Section 7.3 below.

  • Sublicense Revenue means [***].