Net Sales Milestone Event definition

Net Sales Milestone Event shall have the meaning set forth in Section 9.3(a).
Sample 1Sample 2Sample 3
Net Sales Milestone Event means each event identified in the “Net Sales Milestone Event” column in Section 2.10(b).
Sample 1Sample 2
Net Sales Milestone Event has the meaning set out in Section 7.3.1 (Net Sales Milestones).
Sample 1

Examples of Net Sales Milestone Event in a sentence

  • If, in a given Calendar Year, more than one of the Net Sales Milestone Events are achieved for the first time, Licensee shall pay to Licensor the relevant Net Sales Milestone Payment with respect to each such Net Sales Milestone Event achieved in such Calendar Year.

  • Licensee will give Licensor written notice of the achievement of a Net Sales Milestone Event no later than [***] in which such milestone was achieved.

  • Each Net Sales Milestone Payment will be payable only upon the first achievement of the corresponding Net Sales Milestone Event in a given Calendar Year and no amounts will be due for subsequent or repeated achievements of such Net Sales Milestone Event in the same or subsequent Calendar Years.


More Definitions of Net Sales Milestone Event

Net Sales Milestone Event and together with the Development and Commercialization Milestone Events, each a “Milestone Event” and collectively the “Milestone Events”), in each case, (A) Buyer shall notify Seller that such Milestone Event has been achieved (each such notice, a “Milestone Notice”) and (B) as partial consideration for the purchase and sale of the Shares pursuant to this Agreement, Buyer shall pay the milestone payment corresponding to such Milestone Event (each, a “Milestone Payment,” and, collectively, the “Milestone Payments”) in cash to Seller by wire transfer of immediately available funds to an account specified by Seller, in each case, subject to [***]. All Milestone Payments will be made in United States dollars, and the rate of exchange to be used in converting Net Sales made in other currencies into United States dollars will be the average of the daily exchange rates for the calendar quarter in which the applicable sales were made as such daily exchange rate is published in the U.S. east coast edition of The Wall Street Journal. For clarity, if more than one Net Sales Milestone Event is achieved in the same calendar quarter (and where such Net Sales Milestone Events have not been previously achieved), all Milestone Payments corresponding to such Net Sales Milestone Events achieved in such calendar quarter shall be paid by Buyer in aggregate. In the event Development and Commercialization Milestone Event #3 or Development and Commercialization
Sample 1
Net Sales Milestone Event means each event identified in the “Net Sales Milestone Event” column in Section 2.10(b). “Net Sales Milestone Payment” has the meaning set forth in Section 2.10(b).
Sample 1

Related to Net Sales Milestone Event

  • Milestone Event shall have the meaning set forth in Section 4.2.

  • Sales Milestone Payment is defined in Section 5.4.2.

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

  • 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 Payment has the meaning set forth in Section 4.2.

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

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

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

  • Milestone Payments has the meaning set forth in Section 4.2.

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

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

  • Net Sales means [***].

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • 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 human clinical study of a product on a sufficient number of subjects that is designed to establish that such product is safe and efficacious for its intended use, and to determine warnings, precautions, and adverse reactions that are associated with such product in the dosage range to be prescribed, which trial is intended to support Regulatory Approval of such product, as described in 21 C.F.R. 312.21(c). 1.185. [***] 1.186. [***]

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.