Reduction Milestone definition

Reduction Milestone means You have after the First Amendment Closing Date either (i) issued and sold additional shares of Your preferred stock for aggregate gross cash proceeds of at least $75,000,000 (excluding amounts received upon conversion and cancellation of indebtedness) or (ii) consummated Your initial public offering in which You received gross cash proceeds of at least $75,000,000.
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Examples of Reduction Milestone in a sentence

  • Borrower shall deliver to Lender, if achieved, written notice of Company’s completion of the Reduction Milestone.

  • Notwithstanding anything in the Loan Agreement to the contrary, effective as of the date in which Borrower satisfies all Conditions To Effectiveness herein (“Effective Date”): • The principal amount outstanding under the Notes will bear interest, and be deemed to have been bearing interest at all times from and after March 1, 2016, at a rate of interest equal to ten percent (10%) per annum, subject to the Reduction Milestone.

  • The Parties agree that the Reduction Milestone and economic options related thereto are removed from the Loan Agreement in their entirety.

  • Upon receipt by the Lenders of the Interest Reduction Certificate, the Lenders shall be entitled to have access to the management of the Borrower to raise any questions and request such further information and documentation as the Lenders may require (in their absolute discretion) in order to determine if the Interest Reduction Milestone is achieved.

  • If the Lenders' Auditor advises that the achievement of the Net Sales for the Trailing 12 Calendar Month Period does not exceed [***], the Lenders shall give notice to the Borrower and the Interest Reduction Milestone shall be deemed not to have occurred and, the Borrower shall promptly pay to the Lenders any amounts that would otherwise have been due and payable to the Lenders.

  • Provision C.10 – Final Guidance If Your Municipality Has Not Met the 70% Reduction Milestone: CCCWP staff reminded Permittees who will not meet the 70% reduction in trash loads to meet with San Francisco Bay Regional Water Quality Control Board (Water Board) staff and that when annual reports are submitted, those Permittees must also include a plan on how the 70% reduction will be achieved and that plan should include approach, budget, and timeline.

Related to Reduction Milestone

  • 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.

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

  • Milestone 1 means achievement of annual Net Sales of at least $20,000,000 during the Calendar Year ending on December 31, 2021.

  • 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 Event has the meaning set forth in Section 8.2.1.

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

  • Development Milestone Event has the meaning set forth in Section 7.2.1.

  • 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 is defined in Section 5.3.

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

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

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

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

  • 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;

  • Additional Accelerated Purchase Minimum Price Threshold means, with respect to an Additional Accelerated Purchase made pursuant to Section 2(c) hereof, any minimum per share price threshold set forth in the applicable Additional Accelerated Purchase Notice.

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

  • 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.

  • 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.

  • 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.

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

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • M3 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 85.50% 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.

  • 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.

  • First Target Distribution means $0.4025 per Unit per Quarter (or, with respect to the period commencing on the Closing Date and ending on September 30, 2005, it means the product of $0.4025 multiplied by a fraction of which the numerator is the number of days in such period, and of which the denominator is 92), subject to adjustment in accordance with Section 6.6 and Section 6.9.