Milestone 4 Payment definition

Milestone 4 Payment means an amount (rounded down to the nearest whole cent) equal to the quotient obtained by dividing (i) Seventeen Million Dollars ($17,000,000) by (ii) the aggregate number of CVRs issued pursuant to the Merger Agreement, payable in cash, without interest thereon and subject to reduction for any applicable withholding Taxes in respect thereof.
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Milestone 4 Payment means a contingent payment equal to $5,000,000.
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Milestone 4 Payment has the meaning set forth in Section 1.11(a).
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Examples of Milestone 4 Payment in a sentence

  • 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.

Related to Milestone 4 Payment

  • 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 2 means achievement of annual Net Sales of at least $35,000,000 during any Calendar Year ending on or before December 31, 2024.

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

  • 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 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).

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

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

  • 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.

  • Development Milestone is defined in Section 5.3.

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

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

  • 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.

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Milestone Failure means a failure by the Grant Recipient fully to achieve any Milestone by the relevant Milestone Date;

  • 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.

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

  • Earn-Out Payment has the meaning set forth in Section 2.07(a)(i).

  • Minimum Payment Due means the least payment amount, specified in the “Statement of Account”, required to be paid by the “Principal Cardholder” on or before the “Payment Due Date” in order to keep the “Card Account” active. “Past Due Amount” from previous “Billing Cycle” will form part of the “Minimum Payment Due”.

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

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