Product Revenue Milestone definition

Product Revenue Milestone is the achievement, on or prior to May 20, 2021, of Net Product Revenue greater than or equal to [***], calculated on a trailing twelve-month basis, subject to verification (including supporting documents) reasonably satisfactory to Collateral Agent.
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Product Revenue Milestone means Borrower achieves Product Revenue of at least $*** during any consecutive twelve (12) month period ending on or prior to December 31, 2019; provided that (a) Borrower shall have delivered to Administrative Agent a notice certifying satisfaction of the Product Revenue Milestone no later than *** thereafter, (b) Borrower shall have delivered all supporting information reasonably requested by Administrative Agent with respect thereto and (c) Administrative Agent shall have been reasonably satisfied with the results of the audit of the Product Revenue Milestone by examining such information, Borrower’s books and records and any other information reasonably related thereto.
Sample 1
Product Revenue Milestone means Borrower achieves Revenue from the sale of the Product of at least $[***] during any consecutive [***] period (excluding any upfront, milestone and other one-time payments relating to the sale or commercialization of the Product); provided that (a) Borrower shall have delivered to Administrative Agent a notice certifying satisfaction of the Product Revenue Milestone no later [***] thereafter, (b) Borrower shall have delivered all information reasonably required by Administrative Agent with respect thereto and (c) [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Administrative Agent shall have been reasonably satisfied with the results of the audit of the Product Revenue Milestone by examining such information, Borrower’s books and records and any other information reasonably related thereto.
Sample 1

More Definitions of Product Revenue Milestone

Product Revenue Milestone means Borrower achieves Revenue from the sale of the Product of at least $[***] during any consecutive [***] period (excluding any upfront, milestone and other one-time payments relating to the sale or commercialization of the Product); provided that (a) Borrower shall have delivered to Administrative Agent a notice certifying satisfaction of the Product Revenue Milestone no later [***] thereafter, (b) Borrower shall have delivered all information reasonably required by Administrative Agent with respect thereto and (c)
Sample 1
Product Revenue Milestone means Borrower achieves Revenue from the sale of the Product of at least $[***] during any consecutive [***] period (excluding any upfront, milestone and other one-time payments relating to the sale or commercialization of the Product); provided that (a) Borrower shall have delivered to Administrative Agent a notice certifying satisfaction of the Product [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Revenue Milestone no later [***] thereafter, (b) Borrower shall have delivered all information reasonably required by Administrative Agent with respect thereto and (c) Administrative Agent shall have been reasonably satisfied with the results of the audit of the Product Revenue Milestone by examining such information, Borrower’s books and records and any other information reasonably related thereto.
Sample 1

Related to Product Revenue Milestone

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

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

  • Development Milestone is defined in Section 5.3.

  • 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 Event has the meaning set forth in Section 7.2.1.

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

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

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

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

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

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

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

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

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

  • 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.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").

  • KPI Target means the acceptable performance level for a KPI as set out in each KPI;

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

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • M5 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 86.20% and (ii) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (ii) the Targeted Overcollateralization Amount.

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • M2 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 81.50% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.

  • M1 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 70.00% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.