Revenue Milestone definition

Revenue Milestone means the Obligors achieve Revenue from the sale of the Product of at least $100,000,000 during the consecutive twelve (12) month period ending on December 31, 2019; provided that (a) Borrower shall have delivered to Administrative Agent a notice certifying satisfaction of the Revenue Milestone no later than the earlier of (i) 75 days thereafter and (ii) the date on which Borrower announces its earnings publicly, (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 a review of the Revenue Milestone by examining such information, the Obligors’ books and records and any other information reasonably related thereto.

Revenue Milestone means Borrower’s delivery of evidence to Bank, satisfactory to Bank in its reasonable discretion, that Borrower has achieved revenues (measured in accordance with GAAP) for Borrower’s fiscal year ending December 31, 2021 (the “2021 fiscal year”) of at least eighty percent (80%) of Borrower’s projected revenues (measured in accordance with GAAP) for Borrower’s 2021 fiscal year as set forth in Borrower’s board of directors approved annual financial projections for the 2021 fiscal year.

Revenue Milestone means Parent achieving Revenue of at least £17,651,700 for Parent’s 2013 fiscal year.

Examples of Revenue Milestone in a sentence

• Venom Extracts Achieves Second and Final Revenue Milestone On December 10, 2020, the Company announced that Venom Extracts reached its second and final milestone by generating in excess of $40 million revenue calculated from January 1, 2020.

• Subject to Section 3.02(d), Borrower agrees to pay to the Lenders interest on the unpaid principal amount of the Loans, for the period from the applicable Borrowing Date until paid in full, at a rate per annum equal to 12.25%; provided that, upon achievement of the Revenue Milestone and so long as no Default or Event of Default has occurred and is continuing, commencing with the first month thereafter, Borrower agrees to pay such interest at a rate per annum equal to 11.50%.

• Although not directly at issue in this action, Shire’s construction would also forever preclude payment of the Base Case Revenue Milestone Payment regardless of Shire’s ability to hit the defined revenue targets.

• PRESIDENT STRAUSS STATED THAT THE COMMISSION NEEDED TO REPORT A PORTION OF THE REPORT IN THE NEWSPAPER.

• As noted, the occurrence of the Achievement Date is a precondition to all of the Base Case Milestones payments, including the Base Case Revenue Milestone.

More Definitions of Revenue Milestone

Revenue Milestone is the achievement by Borrower of actual sales of at least 80% of projected sales, demonstrated to the reasonable satisfaction of Lender and measured against the projections attached hereto as Annex I; determined on a trailing 6-month basis as reported in the then most recently delivered Compliance Certificate.

Revenue Milestone has the meaning set forth in Section 3.2(d).

Revenue Milestone means Borrower’s delivery to Bank of evidence, in form and substance satisfactory to Bank in its sole but reasonable discretion, that Borrower has generated revenue (determined in accordance with GAAP) with positive gross margins for any trailing three (3) month period after the Effective Date, in an aggregate amount of at least Six Million Dollars ($6,000,000).

Revenue Milestone means Borrower’s delivery to Collateral Agent and the Lenders, after the Second Amendment Effective Date but prior to January 1, 2022, of evidence, in form and content acceptable to Collateral Agent and the Lenders, that Borrower has achieved consolidated revenue of commercial product sales and royalties from commercial product sales (excluding, however, any upfront or milestone payments from licensing agreements), measured in accordance with GAAP on a trailing six (6) month basis as of the last day of any fiscal month, of not less than Twenty-Four Million Dollars ($24,000,000.00).

Revenue Milestone means the achievement by Borrower of least [**] Dollars ($[**]) in Revenue (determined in accordance with GAAP), measured on a trailing twelve (12) month basis for the twelve (12) month period ending May 31, 2016.

Revenue Milestone means satisfaction of each of the following events: (a) no default or Event of Default shall have occurred and be continuing, (b) the Approval Milestone has been achieved, and (c) Borrower shall have delivered evidence satisfactory to Agent (as determined by Agent in its sole discretion) that after the Closing Date and prior to January 31, 2026, Borrower has achieved at least [***] in T3M Net Product Revenue.

Revenue Milestone has the meaning set forth in Section 6.03(c).