Second Milestone Event definition

Second Milestone Event means the occurrence of the following event: the closing share price of the shares of Parent Common Stock over any twenty (20) consecutive Trading Days during the Second Earnout Period is greater than or equal to $23.00 per share (subject to any adjustment pursuant to Section 3(c)).

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Second Milestone Event means confirmation by Bank that Borrower has shipped pre-production units which shall be production quality and have passed a formal release process to include one thousand (1,000) hours of product testing.

Second Milestone Event means that (a) no Event of Default shall have occurred and be continuing, (b) the Term B Loan Advance has been made, and (c) Agent shall have confirmed (which confirmation may require supporting documentation requested by Agent), that Borrower has achieved positive Aggregate 2013-2016 Vintage Clinic Level Contribution on a trailing six (6) month basis for any period ending after the Closing Date but on or prior to June 30, 2018, and (d) that on or prior to March 31, 2018, one (1) of the following shall have occurred: (i) that Borrower has received, after June 30, 2017 but on or prior to March 31, 2018, unrestricted and unencumbered (including, not subject to any redemption, clawback, escrow or similar restriction or encumbrance) upfront net cash proceeds in a minimum amount of at least Twenty-Five Million Dollars ($25,000,000.00) (inclusive of amounts raised in satisfaction of clause (b)(i) of the First Milestone Event definition) in connection with the issuance and sale by Oak Street Health of its equity securities to investors reasonably acceptable to Agent (it being acknowledged and agreed that members of Oak Street Health as of the Closing Date shall be deemed reasonably acceptable to Agent), or (ii) that Borrower has achieved, with respect to any six (6) calendar month period ending after the Closing Date but on or prior to March 31, 2018, aggregate net revenue, determined in accordance with GAAP, of greater than or equal to One Hundred Million Dollars ($100,000,000.00).

Examples of Second Milestone Event in a sentence

The Second Milestone Event shall result in the Third Closing, as defined in the Stock Purchase Agreement.
Vizsla shall use commercially reasonable efforts to achieve the Second Milestone Event within five years of the Closing Date.
Notwithstanding the foregoing, in the event that, within ninety (90) days of satisfaction of the Second Milestone Event, Buyer has not paid the Second Milestone Payment, then the Second Milestone Payment shall not be payable, and Seller shall have the right, within thirty (30) days thereafter, to require Buyer to sell the Acquired Assets to Seller for consideration of $1 by giving written notice to Buyer.
Such issuance may be made as early as six (6) months after the Closing Date if the Second Milestone Event is reached between six (6) and nine (9) months after the Closing Date.
In addition, Weiss shall be entitled to receive two (2) one-time only bonuses ("S▇▇▇▇▇l Bonuses") upon the achievement of each of the First Milestone Event and the Second Milestone Event (each as defined below), in the amount of $1,000,000 and $2,000,000 (less applicable state and federal withholdings), respectively, provided that Weiss may only receive each Special Bonus if, on the date the releva▇▇ ▇▇lestone Event is achieved, he is employed by the Corporation as an officer or director.

More Definitions of Second Milestone Event

Second Milestone Event shall have the meaning set forth in Section 4.2 hereof.

Second Milestone Event means confirmation by Agent in Agent’s sole and absolute discretion, that on or prior to June 30, 2015, one (1) of the following milestones has been achieved: (a) delivery by Borrower to Agent of (i) confirmation from the U.S Food and Drug Administration that Borrower’s “▇▇▇▇▇▇” clinical trial results support the advancement of Borrower’s EG-1962 product into a pivotal phase 3 study, and (ii) Borrower’s financing plan in form and substance reasonably acceptable to Agent to finance such pivotal phase 3 study, or (b) Borrower’s receipt, after July 21, 2014, but on or prior to June 30, 2015, of unrestricted and unencumbered gross cash proceeds in an amount of equal to or greater than Fifty-Five Million Dollars ($55,000,000.00) from the issuance and sale by Borrower of its equity securities, Subordinated Indebtedness, and/or strategic capital (or any combination thereof), in each case with Borrower’s existing investors and investors reasonably acceptable to Agent.

Second Milestone Event has the meaning set forth in Section 2.2(c).

Second Milestone Event means (i) the launch of NextTrip’s groups travel booking platform and (ii) signing of at least five (5) entities to use the groups travel booking platform.

Second Milestone Event means the delivery to Vizsla of a technical report in accordance with NI 43-101 establishing the existence on any portion of the Properties of at least 200,000 ounces of either gold or gold equivalent categorized as "measured resources" or a combination of "measured resources" and "indicated resources" (as such terms are defined in NI 43-101). Such report must be prepared by an independent Qualified Person, chosen by Vizsla;

Second Milestone Event means the occurrence of both: (i) the successful completion by Buyer of a Phase III program for a Primary AMPAKINE® Compound in the intravenous dosage format for prophylactic or rescue treatment of RD, as measured by [***]; and (ii) [***] (the “[***]”) [***] (the “[***]”).

Second Milestone Event means the achievement of the research and development milestone described as the “Second Milestone” in Exhibit E.