Milestone Default definition

Milestone Default means the occurrence of an Event of Default under Section 8.01(c) as a result of a breach of Section 6.17(b), (j), (k), (l), (m), or (n).
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Milestone Default means the failure to achieve the 2014 Milestone or the 2015 Milestone.
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Milestone Default shall have the meaning set forth in Section 9(a).
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Examples of Milestone Default in a sentence

  • Each server acquires information about the state of the infrastructure and detects in- dependently problems in the local infrastructure.

  • Milestone Default Credits shall be offset against any damages awarded in the event that WG successfully pursues a claim against Service Provider, [***].

  • Effects of computer collaborative group work on peer acceptance of a junior pupil with attention deficit hyperactivity disorder (ADHD).

  • A Milestone Default shall occur if the Borrower does not report as of a Reporting Date on a Form 10-Q, 10-QSB, 10-K or 10-KSB (or successor forms, each a "Form") Revenues and EBITDA equal or greater than the amounts set forth on Schedule A hereto, for any one or more of the periods as set forth on Schedule A hereto.

  • As part of the restructuring that closed on July 22, 2011 the lenders under the Credit Agreement waived the existence of the Milestone Failure and agreed that the Milestone Failure shall not provide any basis for a Milestone Default (as defined in the Credit Agreement).

  • Upon the payment in full of the Milestone Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company and, if any principal balance remains on the Debenture, the Company shall reissue to the Holder a new Debenture reflecting such balance.

  • Service Provider shall pay to WG Milestone Default Credits with respect to any failure by Service Provider to meet the Acceptance Criteria for any Deliverable or WG Work Product as set forth in the applicable Work Agreement.

  • From and after (i) the occurrence of an Event of Default, or (ii) the occurrence of a Milestone Default (as defined below), the Conversion Price shall be reduced (but not increased) to the lesser of the Conversion Price in effect prior to the occurrence of the Milestone Default or the average of the volume weighted average prices of the Common Stock as reported by Bloomberg L.P. for the Principal Market for the five trading days preceding the Reporting Date (as defined below).

  • Commencing 10 days after Xxxxxx gives notice for payment of a Milestone Default Amount, the Milestone Default Amount shall accrue interest at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law.

  • The principles of a commonsense approach to evidence in McDonald v Director-General of Social Security (1984) 1 FCR 354 and Ward v Western Australia (1996) 69 FCR 208 referred to.


More Definitions of Milestone Default

Milestone Default means, wherever used herein, whenever the Company shall fail to achieve any of the following as reported in its periodic filings on Forms 10-QSB, 10-KSB or other applicable filings with the Securities and Exchange Commission: i. Revenue exceeding $12,000,000 and Operating Income (Loss) exceeding ($2,000,000) for the period of January 1, 2007 through June 30, 2007; ii. Revenue exceeding $29,000,000 and Operating Income exceeding $4,000,000 for the period of January 1, 2007 through September 30, 2007; and iii. Revenue exceeding $47,000,000 and Operating Income exceeding $10,000,000 for the period of January 1, 2007 through December 31, 2007.
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Milestone Default means Corporation or any Guarantor failing to comply with any provision of Section 7.5 (Milestones);
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Milestone Default means the failure to achieve the Milestone.
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Milestone Default means that the following shall occur: (1) a Milestone Failure shall have occurred and (2) the Required Lenders have declared in writing that an Event of Default has occurred as a result of such condition remaining unsatisfied as of 12:00 a.m. (NYC time) on the date immediately following the occurrence of such Milestone Failure.
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Related to Milestone Default

  • Milestone Event has the meaning set forth in Section 8.2.1.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

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

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

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

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

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

  • Potential Default means the occurrence of any event or condition which, with the giving of notice, the passage of time, or both, would constitute an Event of Default.

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

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

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

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Development Milestone is defined in Section 5.3.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Default under Specified Transaction provisions of Section 5(a)(v) will not apply to Party A and will not apply to Party B.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

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

  • 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 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.