Performance Milestone 2 definition

Performance Milestone 2 means the satisfaction of each of the following events: (a) no Default or Event of Default shall have occurred and be continuing as of any date of determination; (b) the Parent has achieved Performance Milestone 1; (c) the Parent has achieved the Net Proceeds Milestone; and (d) the Parent has received the FDA Odevixibat Approval.

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Performance Milestone 2 means satisfaction of each of the following events: (a) after May 31, 2017, and prior to June 30, 2018, receipt by Borrower of at least One Hundred Million Dollars ($100,000,000) (inclusive of amounts raised in satisfaction of Section 4.1(f) and Performance Milestone 1) of Net Financing Proceeds and (b) achievement of either the PROGRESS-HF Milestone or the IDDEA-HF Milestone, in each case, subject to verification by Agent in its reasonable discretion (including supporting documentation reasonably requested by Agent).

Performance Milestone 2 means satisfaction of each of the following events: (a) no Event of Default shall have occurred and be continuing and (b) Borrower or any other Loan Party shall have received the approval from the FDA of the NDA for CONTEPO for the treatment of complicated urinary tract infections, with a label generally consistent with the target label included in Borrower’s NDA filing.

Examples of Performance Milestone 2 in a sentence

Performance Milestone 2 Development of State impact assessments and high-level roadmaps 1 July 2023 43% State allocation of the funding for VET data Infrastructure.
A2.2 Performance Milestone 2 Company will design, build, and characterize an ultrasound probe for transrectal boiling histotripsy studies utilizing the Licensed Patents by two (2) years from the Effective Date.
A2.2 Performance Milestone 2 (“MS2”) First Commercial Sale of a Licensed Product will be achieved by January 1, 2020.
At all times prior to achievement of the earliest to occur of Performance Milestone 1 and Performance Milestone 2, Borrower shall maintain Unrestricted Cash in an amount greater than or equal to Six Million Dollars ($6,000,000) plus the amount of Borrower’s accounts payable under GAAP not paid after the 90th day following the invoice date for such accounts payable.
Lead Developer shall submit its proposed schedule to City by Performance Milestone 2.
Subject to the terms and conditions of this Agreement, beginning on the date Borrower achieves Performance Milestone 2 and continuing through June 15, 2020, Borrower may request and Lender shall make an additional Term Loan Advance in an aggregate principal amount of $5,000,000 (the “Tranche 3 Advance”).
Subject to the terms and conditions of this Agreement, beginning on the date Borrower achieves Performance Milestone 2 and continuing through September 30, 2019, Borrower may request and Lender shall make an additional Term Loan Advance in an aggregate principal amount of $5,000,000 (the “Tranche 3 Advance”).

More Definitions of Performance Milestone 2

Performance Milestone 2 means satisfaction of each of the following events prior to September 30, 2023: (a) Performance Milestone 1 Date has occurred, (b) Borrower has filed a New Drug Application with the FDA for Zimura for the treatment of geographic atrophy and the FDA has accepted such New Drug Application for review, in each case under this clause (b), subject to Lenders’ reasonable verification and (c) no Default or Event of Default shall have occurred. “Performance Milestone 2 Date” means the date on which Borrower achieves Performance Milestone 2. “Performance Milestone 3” means the satisfaction of each of the following events prior to September 30, 2024: (a) Performance Milestone 2 Date has occurred, (b) the FDA has approved the New Drug Application for Zimura for the treatment of geographic atrophy with a label generally consistent with that sought in Borrower’s filing of such New Drug Application and which continues to support the planned commercialization strategy and outlook, in each case under this clause (b), subject to Lenders’ reasonable verification and (c) no Default or Event of Default shall have occurred.

Performance Milestone 2 means satisfaction of each of the following events: (a) no Event of Default shall have occurred and be continuing (b) Borrower or any other Loan Party shall have received the approval from the FDA of the NDA for CONTEPO for the treatment of complicated urinary tract infections, with a label generally consistent with the target label included in Borrower’s NDA filing and (c) receipt by Borrower on or after September 12, 2019 and on or before [**], of at least $[**] of Net Financing Proceeds (provided however, underwriting fees, sales commissions and transaction expenses for equity financings shall not be net out of Net Financing Proceeds for purposes of this requirement).

Performance Milestone 2 means the receipt by Bank of evidence satisfactory to Bank, in the case of clauses (a) and (b), in its sole discretion, and in the case of clause (c), in its commercially reasonable discretion, demonstrating that Borrower has achieved each of the following: (a) Revenue (measured on a trailing three (3) month basis) in an amount not less than Ten Million Dollars ($10,000,000) for the fiscal quarter ending on September 30, 2023, with such evidence to be delivered to Bank no later than with the Quarterly Financial Statements for such quarter in accordance with Section 5.3(c) hereof, (b) Net Income (Loss) of no greater than Six Million Eight Hundred Thousand Dollars ($6,800,000) for the fiscal quarter ending September 30, 2023, with such evidence to be delivered to Bank no later than with the Quarterly Financial Statements for such quarter in accordance with Section 5.3(c) hereof, and (c) a stable relationship with HCA HEALTHCARE, INC., a Delaware corporation (“HCA”).

Performance Milestone 2 means delivery by Borrower to Bank, on or prior to June 30, 2022, of evidence satisfactory to Bank in its sole but reasonable discretion, that Borrower has achieved positive phase 1(a) data for its IL-17 program that is sufficient to access the second tranche of its Series C equity financing round.

Performance Milestone 2 means Borrower has delivered evidence to Bank, on or prior to December 31, 2022, satisfactory to Bank in Bank’s sole but reasonable discretion, that Borrower has received, after the Second Amendment Effective Date, but on or prior to [***], unrestricted and unencumbered net cash proceeds in an aggregate amount of at least $[***] from (a) [***] and/or (b) [***].”