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 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.

  • SCHEDULE 3.3-1 EVALUATION LICENSE PAYMENTS Initial Milestone Payment Trigger Expected Delivery Date Initial Milestone Payment [*] Approximately [*] after the Effective Date $[*] [*] Approximately [*] after the Effective Date $[*] [*] Approximately [*] after the Effective Date $[*] [*] Confidential treatment requested; certain information omitted from one page and filed separately with the SEC.

  • To the extent it fails to make payment pursuant to A and B above the Agreement shall terminate forthwith on the date of such failure and the Closing shall not consummate, and the amounts of the Initial Milestone Payment and the Second Milestone Payment, if any, shall convert into Ordinary Shares of the Company NIS 0.01 each at a per share conversion price according to a pre-investment Company valuation as provided under the Agreement.

  • 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 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.

  • 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.

  • To the extent Purchaser made the Initial Milestone Payment on a timely manner, to pay the Company an additional aggregate amount of US$ 2,000,000 (two one million United states Dollars) (“ Second Milestone Payment”) by April 30, 2021 the latest.

  • 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).

  • SCHEDULE 3.3-1 EVALUATION LICENSE PAYMENTS Initial Milestone Payment Trigger Expected Delivery Date Initial Milestone Payment [*] Approximately [*] after the Effective Date $[*] [*] Approximately [*] after the Effective Date $[*] [*] Approximately [*] after the Effective Date $[*] [*] Confidential treatment requested; certain information omitted and filed separately with the SEC.

  • Costs incurred by Licensor in connection with the execution of the Development Plan prior to the payment of the Initial Milestone Payment shall be reimbursed by Licensee at the time of the payment of the Initial Milestone Payment together [***] to compensate for Licensor's risk.


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 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;

  • 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 has the meaning set forth in Section 4.2.

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

  • 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 8.4.

  • 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 3.3 (Milestone Payments).

  • 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 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 treatment of Netherton Syndrome in humans in the Territory.

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

  • Sublicense Revenue means any payments or other consideration that CTI actually receives from a Sublicensee as consideration for the grant of a Sublicense, including, without limitation, milestone payments, license fees, license maintenance fees and equity. Sublicense Revenue excludes (i) purchases of equity or debt of TGTX, (ii) payments made for GTX’s performance of any research, Development, or Commercialization of any Licensed Product, (iii) (b) royalties on Net Sales (or, in the case of a profit sharing deal structure, shares of net profits) which are covered in Section 5.9, and (iv) any payment or reimbursement of any costs or expenses incurred by TGTX for filing, prosecution, maintenance, or defense of any DFCI Patents. In the event such consideration received from a Sublicensee is not cash, Sublicense Revenue shall be calculated by TGTX based on the fair market value of such consideration, at the time of the transaction, assuming an arm’s length transaction made in the odinary course of business.

  • License Fee means the amount payable by the licensee to DMRC as per rates offered by the Selected Bidder for utilization of licensed space and accepted by DMRC to be paid by the Licensee along with other charges and any kind of Central or State Taxes, local levies, statutory dues, etc. that may be payable by the licensee as per prevalent law.

  • Earnout Payment has the meaning set forth in Section 2.3(b).