Milestone Event 2 definition

Milestone Event 2 has the meaning set forth in Section 1.1(a).
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Milestone Event 2 means delivery by Borrower to Bank, on or prior to December 31, 2020, of evidence satisfactory to Bank in Bank’s sole and absolute discretion that Borrower has achieved net revenue (calculated with respect to Borrower only and not on a consolidated basis), determined in accordance with GAAP, of at least Fifty-Five Million Dollars ($55,000,000.00) for a trailing twelve (12) month period ending no later than December 31, 2020 (which twelve (12) month period shall end no earlier than the last day of the first (1st) calendar month ending after the Second Amendment Effective Date).
Sample 1Sample 2
Milestone Event 2 has the meaning set forth in Section 4.3.
Sample 1

Examples of Milestone Event 2 in a sentence

  • Furthermore, if a Development Milestone Event is achieved for a given Preclinical Compound before a prior Development Milestone Event (“prior” and “subsequent” referring to a lower number in the table above, e.g., Development Milestone Event 2 being “prior” to Development Milestone Event 3), then all such prior Development Milestone Events shall be deemed achieved upon achievement of the subsequent Development Milestone Event.

  • Merck would not owe Milestone Payments for Milestone Event 1 or Milestone Event 2 above.

  • Merck shall provide Zymeworks with Written Notice of the achievement of each other Milestone Event (that is, Milestone Events after Research Milestone Event 1 and Research Milestone Event 2) within […***…] days thereafter and make the corresponding Milestone Payment within […***…] days after achievement of the Milestone Event.

  • In the event that Development and Regulatory Milestone Event 2, 3 or 4 below is achieved before Development and Regulatory Milestone Event 1, then then the Development and Regulatory Milestone Payment for 1 shall become due and payable upon the achievement of Development and Regulatory Milestone Event 2, 3 or 4, as the case may be.

  • Notwithstanding anything to the contrary in this Agreement, (i) no Milestone Payment for Milestone Event 2 or Milestone Event 3 will be due for [***], (ii) Milestone Payments for Milestone Event 2 and Milestone Event 3 are payable for [***], and (iii) subject to clause (i), Milestone Event 2 and Milestone Event 3 shall be due for the [***].

  • For example, if Development Milestone Event #2 in Table 10.2.1 (a) has not been achieved at the time Development Milestone Event #5 in Table 10.2.1 (a) is achieved, then CStone will pay to Blueprint the Development Milestone Payment to be made with respect to such Development Milestone Event #2 at the same time as CStone pays the Development Milestone Payment due upon achievement of such Development Milestone Event #5.

  • For clarity, for [***], the Milestone Event 2 will be deemed achieved on [***] and Milestone Event 3 will be deemed achieved on [***].

  • To the extent not fully satisfied out of the Indemnification Escrow Amount, and subject to any applicable limitations contained in Section 9.3, Parent shall have the right to withhold and deduct any sum that is owed to any Indemnitee under this Section 9 from any unpaid Milestone Payment (other than the First Milestone Payment and the Milestone Event 2 Payment).

  • Notwithstanding the foregoing, the total amount of payments by Advaccine for the Global Development Costs and the payments of Milestone Event #2 defined in Section 8.2 shall be capped at US$[***]prior to [***] (“[***] Payment Cap”).

  • Milestone Event 2, any delay in the achievement of Milestone Event 2 or any increased costs of achieving Milestone Event 2 (for purposes of this clause “(b)”, achieving Milestone Event 2 includes obtaining the Regulatory Approval referenced in the definition of Milestone Event 2 (without regard to any time limitations set forth in such definition)).


More Definitions of Milestone Event 2

Milestone Event 2 means the satisfaction of all of the following events prior to December 31, 2019: (i) no default or Event of Default shall have occurred or is continuing, (ii) the Term B Loan Advance has been made to Borrower, and (iii) Agent has confirmed that Borrower has received, after the Closing Date but on or prior to December 31, 2019, unrestricted and unencumbered net cash proceeds in a minimum aggregate amount of at least Fifty Million Dollars ($50,000,000.00) resulting from either (A) the issuance and sale by Borrower of its equity securities, and/or (B) cash payments in connection with strategic partnerships or other corporate transactions (including cash payments received in connection with the IPSEN Agreement).
Sample 1
Milestone Event 2 means an event after January 1, 2024, and prior to January 1, 2028 where Net Revenue with respect to OMIDRIA within the United States (over a total of four (4) consecutive quarters) reaches an aggregate total equal to or greater than one hundred eighty one million dollars (U.S. $181,000,000).
Sample 1

Related to Milestone Event 2

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

  • 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 means an event or task described in the Implementation Plan which must be completed by the corresponding date set out in such plan;

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

  • Development Milestone is defined in Section 5.3.

  • 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.

  • Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.

  • Sales Milestone Payment shall have the meaning set forth in Section 8.4.

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

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

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

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

  • Project Milestones means the project milestones set forth in Schedule-G;

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

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • 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.

  • Phase III Clinical Study means a trial involving administration of a Compound to sufficient numbers of human patients with the goal of establishing that the Compound is safe and efficacious for its intended use, to define warnings, precautions and adverse reactions that are associated with the drug or label expansion of such Compound, and to be considered as a pivotal study for submission of an NDA.

  • Phase 1 Clinical Trial means a Clinical Trial of a Product on sufficient numbers of normal volunteers and/or patients that is designed to establish that such Product is safe for its intended use and to support its continued testing in Phase 2 Clinical Trials. For purposes of this Agreement, ‘initiation’ of a Phase 1 Clinical Trial for a Product means the first dosing of such Product in a human subject in a Phase 1 Clinical Trial.

  • Phase IIb Clinical Trial means a clinical trial of a Product on sufficient numbers of patients that is designed to provide a preliminary determination of safety and efficacy of such Product in the target patient population over a range of doses and dose regimens.

  • Phase III Clinical Trial means a human clinical trial of a product, the design of which is acknowledged by the FDA to be sufficient for such clinical trial to satisfy the requirements of 21 C.F.R. 312.21(c) (as amended or any replacement thereof), or a similar human clinical trial prescribed by the Regulatory Authority in a country other than the United States, the design of which is acknowledged by such Regulatory Authority to be sufficient for such clinical trial to satisfy the requirements of a pivotal efficacy and safety clinical trial.

  • Phase III Clinical Trials means a Clinical Trial for the Product on sufficient numbers of patients to generate safety and efficacy data to support Regulatory Approval in the proposed therapeutic indication, conducted in accordance with current good clinical practices and in accordance with a protocol that has been reviewed by the FDA and reflects any comments or concerns raised by the same.