The Borrower shall use all of the proceeds of the Tranche B Term Loans to fund a portion of the Novartis Milestone Payment substantially concurrently with the funding of the Tranche B Term Loans on the Tranche B Funding Date.
Development Milestone Payment shall have the meaning set forth in Section 9.2(a).
Sales Milestone Payment shall have the meaning set forth in Section 8.4.
Milestone Payment has the meaning set forth in Section 4.2.
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 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 Payment Date has the meaning set forth in Section 2.4(a).
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 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 Event has the meaning set forth in Section 7.2.1.
Milestone Event has the meaning set forth in Section 8.2.1.
Milestone Events has the meaning set forth in Section 7.2.
Milestone Date means the date set against the relevant Milestone in the Implementation Plan;
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.
Project Milestone means the project milestone set forth in Schedule-J;
Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.
Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.
Project Milestones means the project milestones set forth in Schedule-G;
Milestone Notice has the meaning set forth in Section 2.4(a).
Sublicense Fees shall have the meaning set forth in Section 7.3 below.
Sublicense Revenue means [***].
Novartis shall have the meaning set forth in the Preamble.
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;
KPI Target means the acceptable performance level for a KPI as set out in each KPI;
License Fees means all non-refundable fees payable by Licensee to OT with respect to the granting of Software Licenses; “License Model” means the description of the conditions, limitations and restrictions associated with the Software License which govern the use of the Software, as set out in the applicable License Model Schedule;