Milestone Condition definition

Milestone Condition means the achievement of statistical significance on the primary endpoint (MADRS) change at week four of the Phase 2B Clinical Trial in respect of BPL-003 with a p<0.05, with (i) fewer than or equal to 3 individual cases of drug-related serious adverse events observed in the 8 mg arm, and (ii) less than a total of 6% drug-related serious adverse events observed in the 12mg arm respectively during the Phase 2B Clinical Trial. “Serious adverse events” shall have the same meaning as given in the Phase 2B Clinical Trial protocol and the drug relatedness assessment shall be determined by the primary investigator of the Phase 2B Clinical Trial in their sole discretion;

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Milestone Condition means the condition set out in Clause 11 (Milestone Condition);

Milestone Condition means [***]; and [***] and [***].

Examples of Milestone Condition in a sentence

• For further clarity, if the Milestone Closing has not occurred prior to the termination of the HBV Program or the Company’s or Purchaser’s written notice of its respective intent to terminate the HBV Program, then the Company’s obligation hereunder with respect to the Milestone Stock and the Milestone Condition Payment shall automatically terminate.

• The Purchaser shall have performed and complied with all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by them on or before the Milestone Closing, including but not limited to the Milestone Condition.

• Each Unit will become a vested Unit on the first date (the “Vesting Date”) on which both the Service Condition and the Performance Milestone Condition have been satisfied with respect to such Unit on or before the Expiration Date, provided that the Participant’s employment or contractual relationship with the Company has not terminated before the Vesting Date.

• Except as provided in Section 3(c), the vesting of each Unit requires the satisfaction of both the Service Condition and the Performance Milestone Condition (as such conditions are defined in Sections 3(a) and 3(b) below) on or before [●] (the “Expiration Date”).

• The Company shall notify the Investor Representative within ten (10) Business Days after the satisfaction of the 2021 Sales Milestone Condition or the Positive SIENDO Study Condition (as applicable).

• For the avoidance of doubt, each Milestone Condition shall be measured independently of any other Milestone Condition and no Milestone Payment shall be contingent on having earned any other Milestone Payment.

• If the First Milestone Condition is met, then the Purchaser shall pay a Milestone Payment within five (5) business days after the Annual Determination for calendar year 2021 shall have become binding on the parties as provided in Section 2.2.

• If the Third Milestone Condition is met, then the Purchaser shall pay a Milestone Payment within five (5) business days after the Annual Determination for calendar year 2022 shall have become binding on the parties as provided in Section 2.2.

• Upon termination, regardless of cause, any Milestone Benefit Incentive not fully earned shall be offered to Ambassador in direct proportion to the Milestone Condition accumulated (either by reference to the amount of Associate Ambassadors signed and approved, or the amount of gross sales, calculated on the effective date of termination, including all sales that are pending as of said date, but excluding those that are later cancelled.

• If for any reason whatsoever the Milestone Condition Precedent is not satisfied by the Borrower on or prior to the Milestone Deadline, then (i) the amendment set forth in Section 2.1(b) of this Agreement shall have no force or effect whatsoever, and (ii) Section 7.2 of Schedule 7 shall remain unaltered by this Agreement.

More Definitions of Milestone Condition

Milestone Condition means:- (a) | | |

Milestone Condition shall have the meaning given to that term in the RCF Agreement.

Milestone Condition means [***].

Milestone Condition means:- (a) in respect of Phase the occurrence on Phases of all of the following:- (b) in respect of Phases (and any further Subsequent Phases) the occurrence on the previous Phase of either completion of of the piling on that previous Phase or if agreed with the Steering Group the provision of written evidence independently verified (with the party providing such verification owing a duty of care to the Council on terms approved by the Council (such approval not to be unreasonably withheld or delayed)) that the total sum of construction costs incurred in respect of that previous Phase exceed (or such other milestone agreed by the Steering Group)

Milestone Condition means each of the First Milestone Condition, the Second Milestone Condition, the Third Milestone Condition and the Fourth Milestone Condition.

Milestone Condition means each of the following: (i) on or before January 31, 2013, Banco Bracce or any other Brazilian bank shall have funded a minimum of R$ 6,000,000 on financial terms and conditions that are not materially less favorable than those set forth in that certain engagement letter from Banco Bracce to Irgovel dated as of November 1, 2012; (ii) on or before June 30, 2013, the Company and its Subsidiaries shall have completed in full the Phase I Projects, except for the installation of the deordorizer unit (which shall be deferred and installed in 2014), for an aggregate cost not to exceed (A) R$ 26,000,000 for accumulated capital expenditures related to PP&E, the boiler and other ancillary equipment and (B) R$ 21,400,000 for accumulated capital expenditures related to PP&E for items not related to expansion of the plant; and (iii) during September 2013, the Company and its Subsidiaries shall have processed a minimum of 9,000 metric tons of raw rice bran. For purposes of subpart (ii) of the preceding definition, (a) internal salaries that are capitalized from and after the Effective Date shall not be included in capital expenditures and (b) accumulated capital expenditures shall be determined in a manner consistent with Schedule 1 hereto.