Milestone 2 Payment definition

Milestone 2 Payment means, with respect to the achievement of Milestone #2, an amount per CVR equal to $[●] in cash, without interest, in an aggregate amount $3,000,000.
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Milestone 2 Payment means a contingent payment equal to $0.30.
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Milestone 2 Payment means an amount (rounded down to the nearest whole cent) equal to the greater of (a) the quotient obtained by dividing (i) Six Million Dollars ($6,000,000) less the Advisory Fee Deduction as of such time by (ii) the aggregate number of CVRs issued pursuant to the Merger Agreement and (b) zero, payable in cash, without interest thereon and subject to reduction for any applicable withholding Taxes in respect thereof.
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Examples of Milestone 2 Payment in a sentence

  • The Milestone 1 Payment, Milestone 2 Payment and Milestone 3 Payment set forth below (collectively, the “Milestone Payments”) shall be payable by Client to Schrödinger upon the achievement of the applicable event for each agreed upon Target (each, a “Milestone Event”) as described below.

  • The Milestone 1 CVR represents the contingent rights of Holders to receive the Milestone 1 Payment, and the Milestone 2 CVR represents the contingent rights of Holders to receive the Milestone 2 Payment.

  • For clarity, for a Target, Milestone 2 Payment, Milestone 3 Payment, and Milestone 4 Payment shall be payable (x) only once with respect to an Indication regardless of the number of times Collaboration Compounds Primarily Active against such Target achieve such Milestone Event for such Indication, and (y) only once with respect to a Collaboration Compound Primarily Active against such Target regardless of the number of times it achieves such Milestone Event.

  • The Milestone 1 Payment, Milestone 2 Payment, Milestone 3 Payment, and Milestone 4 Payment set forth below (collectively, the “Milestone Payments”) shall be payable by Client to Schrödinger only upon the achievement of the applicable event (each, a “Milestone Event”) as set forth herein.

  • Milestone 2 Payment, Milestone 3 Payment, and Milestone 4 Payment shall be payable, on a Target-by-Target basis, (i) the first time such Milestone Event is achieved by a first Collaboration Compound Primarily Active against such Target for a first Indication, and (ii) each time such Milestone Event is subsequently achieved by a different Collaboration Compound Primarily Active against such Target for a different Indication.

  • The Holders shall have no right to receive any or all of the Partial Milestone 2 Payment in the event that (A) the Milestone 1 Target is not achieved within the Milestone Achievement Period or (B) the Milestone 2 Target is achieved during the Milestone Achievement Period.

  • The Rights Agent shall promptly (and in no event later than five (5) Business Days after receipt thereof by the Rights Agent) send to each Holder at its address set forth in the CVR Register a copy of the Partial Milestone 2 Compliance Certificate and an amount in cash equal to the Partial Milestone 2 Payment with respect to each CVR held by such Holder.

  • The Rights Agent shall promptly (and in no event later than five (5) Business Days after receipt thereof by the Rights Agent) send to each Holder at its address set forth in the CVR Register a copy of the Milestone 2 Compliance Certificate and an amount in cash equal to the Milestone 2 Payment with respect to each CVR held by such Holder.

  • Milestone 1 Payment [***] MILESTONE 2 Milestone Event 2: Initiation of IND enabling studies with respect to a Collaboration Compound (as defined by initiation by Client, its Affiliates of GLP-tox studies) Milestone 2 Payment [***] CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED.

  • If either Milestone 1 Payment or Milestone 2 Payment is not triggered, but Bod subsequently achieves sales in excess of GBP 1 million of a Milestone Product or of another Product utilising the Invention, or sells the Invention to a third party, Bod will pay any Milestone Payment which has not already been paid to the Vendors.


More Definitions of Milestone 2 Payment

Milestone 2 Payment means an amount per CVR equal to $1.00, which shall become payable upon the first achievement of Milestone 2.
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Milestone 2 Payment has the meaning set forth in Section 1.11(a).
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Milestone 2 Payment means a contingent payment equal to $0.30. “Milestone Deadline Date” means:
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Milestone 2 Payment means a contingent payment equal to $15,000,000.
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Milestone 2 Payment shall be equal to the product of (A) 1.50 multiplied by (B) the difference between (a) Net Sales for the period from January 1, 2019 through December 31, 2019 (“2019 Net Sales”) minus (b) 2018 Net Sales (or, if 2018 Net Sales are lower than the then-applicable Net Sales High-water Xxxx, the then-applicable Net Sales High-water Xxxx); provided that in no event shall the Milestone 2 Payment be greater than $300,000,000 minus any Milestone 1 Payment; provided further that if 2019 Net Sales are less than or equal to 2018 Net Sales, there shall be no Milestone 2 Payment (i.e., the Milestone 2 Payment shall equal $0). Notwithstanding the foregoing, the Milestone 2 Payment shall be subject to offset and reduction as provided for in Section 8.4(c).
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Related to Milestone 2 Payment

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

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

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

  • 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).

  • 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.

  • AHYDO Catch-Up Payment means any payment with respect to any obligations of the Borrower or any Restricted Subsidiary, in each case to avoid the application of Section 163(e)(5) of the Code thereto.

  • Milestone Notice has the meaning set forth in Section 2.4(a).