Second Milestone definition

Second Milestone means the Network has succeeded in registering one million Verified Users.

Second Milestone has the meaning set forth in Section 1.3(a).

Second Milestone means completion of recruitment for the clinical studies, i.e., completion of all of the surgeries on all of the patients recruited for both total cervical disc replacement and control fusion, in accordance with an IDE approved by the FDA initiated by Buyer or any of its Affiliates or licensees.

Examples of Second Milestone in a sentence

• By way of example, the failure to achieve Automation Milestone 2 and Cost Milestone 2, combined with the achievement of each of Sales Milestone 2 and Technology Milestone 2, in each case on the Second Milestone Test Date, would result in an Applicable Percentage increase of [*] percent ([*]%).

• The Lenders’ several obligations to make the Tranche 2 Term Loan pursuant to Section 2.1(a)(iii) of the Credit Agreement shall be subject to the achievement of the Second Milestone on the Second Milestone Test Date.

• In the event that the Borrower fails to achieve the Second Milestone on the Second Milestone Test Date, the Tranche 2 Commitment and the Tranche 3 Commitment shall (subject to Section 3 below) be automatically terminated, effective immediately after the Second Milestone Test Date.

• Subject to Sections 2(d) and (e) below, the Applicable Percentage shall be increased by [*] percent ([*]%) for each failure to achieve any Second Milestone Component, in each case on the Second Milestone Test Date, subject to a maximum increase of four percent (4%) for the failure to achieve Second Milestone Components.

More Definitions of Second Milestone

Second Milestone. , Third Milestone", "Fourth Milestone", "Fifth Milestone", and "Sixth Milestone", respectively.

Second Milestone means achievement of the criteria described under the captions “Supply Milestone” with regard to the Company as set forth opposite “Second Milestone” on Exhibit C.

Second Milestone means the earlier of: (a) completion of a Feasibility Study, and (b) five (5) years from the Closing Date.

Second Milestone means *** Successful implantation of a “PROW FUSION-L” product within the Prow Fusion-L Product Family.

Second Milestone means the achievement of the successful production and testing of (A) Osmolarity Beta/Beta Units and (B) IgE Alpha lab cards as further described on Schedule 1.4(c)(ii) hereto.

Second Milestone means the milestone set forth on Annex A under the heading “Second Milestone.”

Second Milestone. (as defined in the Investment and Commission Agreement), Borrower shall prepay the aggregate outstanding amount of all Advances and the Commitment shall be automatically terminated.