Second Revenue Event definition

Second Revenue Event is the achievement by Borrower for the first time after the Effective Date and before June 30, 2022 of consolidated trailing six month revenues of at least Twenty Five Million Dollars ($25,000,000), determined by Collateral Agent at the end of any fiscal month of Borrower based upon written evidence satisfactory to Collateral Agent.
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Second Revenue Event is the achievement by Lombard Cayman Guarantor, after the Effective Date, of consolidated trailing twelve-month product sales revenues of at least Twenty-Five Million ($25,000,000.00), determined by Collateral Agent at the end of any fiscal month of Lombard Cayman Guarantor, based upon written evidence satisfactory to Collateral Agent.
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Second Revenue Event is the achievement by Borrower, for the fiscal year 2015, of (i) seventy-five percent (75%) of its projected net Nexafed cash receipts set forth in the Projected Receipts and (ii) seventy-five percent (75%) of its projected Oxecta royalty receipts set forth in the Projected Receipts, and delivery of evidence of such achievement by Borrower to Collateral Agent, on or before February 15, 2016, in such form and substance as is acceptable to Collateral Agent in its discretion. The occurrence of the First Revenue Event is a precondition for the occurrence of the Second Revenue Event.
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Examples of Second Revenue Event in a sentence

  • For the avoidance of doubt, in the event that (x) the First Revenue Event does not occur, the fees set forth in this Section 2.5(d)(i) shall not be due and payable, and (y) the Second Revenue Event does not occur, the fees set forth in this Section 2.5(d)(ii) shall not be due and payable.


More Definitions of Second Revenue Event

Second Revenue Event is the achievement by Borrower, for the first time during the fiscal year 2018, of consolidated twelve months’ trailing revenues from the sale of its products and services related to its products of at least Forty Five Million Dollars ($45,000,000), as determined by Collateral Agent (based upon written evidence satisfactory to Collateral Agent) at the end of any fiscal month of Borrower during fiscal year 2018. [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.
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Second Revenue Event means delivery by Borrower to Lender, on or prior to June 15, 2014, of evidence satisfactory to Lender in Lender’s sole discretion (it being agreed that Borrower’s 10-Q shall be satisfactory evidence), that Borrower (not calculated on a consolidated basis) has achieved total Gross Commercial Revenues of at least Seven Million Dollars ($7,000,000) for the three (3) month period beginning January 1, 2014 through and including March 31, 2014.
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Second Revenue Event is the achievement by U.S. Borrower on or after the Effective Date and on or before June 30, 2018 of consolidated trailing six-month Keveyis Net Product Revenues of at least [****] Dollars ($[****]), as determined by Collateral Agent based upon written evidence satisfactory to Collateral Agent.
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Related to Second Revenue Event

  • M&O Revenue means (i) those revenues which the District receives from the levy of its annual ad valorem maintenance and operations tax pursuant to Section 45.002 of the TEXAS EDUCATION CODE, or other lawful authority, and Article VII § 3 of the TEXAS CONSTITUTION, plus (ii) all State revenues to which the District is or may be entitled under the applicable provisions of the TEXAS EDUCATION CODE or any other statutory provision as well as any amendment or successor statute to these provisions, as applicable, less

  • Operating Revenue Cash Flows means the Company’s cash flow from ownership and/or operation of (i) Properties, (ii) Loans, (iii) Permitted Investments, (iv) short-term investments, and (v) interests in Properties, Loans and Permitted Investments owned by any Joint Venture or any partnership in which the Company or the Partnership is, directly or indirectly, a co-venturer or partner.

  • Step Up Event means a failure to meet the Minimum Rating Requirement at any time, unless:

  • Post-Acquisition Period means, with respect to any Permitted Acquisition, the period beginning on the date such Permitted Acquisition is consummated and ending on the last day of the sixth full consecutive fiscal quarter immediately following the date on which such Permitted Acquisition is consummated.

  • Qualifying Income Gross income that is described in Section 856(c)(2) or 856(c)(3) of the Code.

  • Original M&O Revenue means the total State and local Maintenance and Operations Revenue that the District would have received for such school year, calculated in accordance with TEXAS EDUCATION CODE Section 48.256(d), had this Agreement not been entered into by the Parties and the Applicant’s Qualified Property had been subject to the District’s ad valorem maintenance and operations tax without any limitation on value at the rate applicable for such Tax Year. For purposes of this calculation, the Consultant (as defined in Section 4.5) will base its calculations upon (1) the total Taxable Values for each applicable Tax Year as certified by the Appraisal District for all taxable accounts in the District for the District’s maintenance and operations ad valorem tax purposes, save and except for the Applicant’s Qualified Property subject to this Agreement, plus (2) the total Taxable Values for such applicable Tax Year as certified by the Appraisal District for the Applicant’s Qualified Property subject to this Agreement for the District’s debt service (interest and sinking fund) ad valorem tax purposes (which total Taxable Values for the Applicant’s Qualified Property subject to this Agreement shall be used in lieu of the total Taxable Values for such applicable Tax Year as certified by the Appraisal District for the Applicant’s Qualified Property subject to this Agreement for the District’s maintenance and operations ad valorem tax purposes).

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Acquisition Period means the period ending five (5) business days prior to

  • Total Revenues means revenues from all taxes and fees, excluding revenue from funds managed by local government on behalf of a specific third party, and does not include the proceeds from borrowing or asset sales.

  • Total Revenue bears the same meaning assigned to this expression in the Codes of Good Practice on Black Economic Empowerment, issued in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act and promulgated in the Government Gazette on 9 February 2007;

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Tier 2 Capital Event means the receipt by the Company of a legal opinion from counsel experienced in such matters to the effect that the Subordinated Notes do not constitute, or within 90 days of the date of such legal opinion will not constitute, Tier 2 Capital (or its then equivalent if the Company were subject to such capital requirement).

  • Deferred Net Cash Proceeds Payment Date shall have the meaning provided such term in the definition of Net Cash Proceeds.

  • Excess Cash Flow Application Date as defined in Section 2.12(c).

  • Adjusted Revenue means revenue less Digital Platform Fulfilment Revenue.

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

  • Change in Control Protection Period means the period commencing on the date a Change in Control occurs and ending on the first anniversary of such date.

  • CAISO Revenues means the credits, fees, payments, revenues, interest or similar benefits, including imbalance energy payments, that are directly assigned by the CAISO to the CAISO Global Resource ID for the Generating Facility for, or attributable to, Scheduling or deliveries from the Generating Facility under this Agreement.

  • Earnout Period has the meaning specified in Section 2.03(a).

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Recurring Revenue Loan means a Collateral Loan that meets each of the following criteria as of the date of acquisition by the Borrower, subject to waiver by the Administrative Agent in accordance with the definition of Eligible Collateral Loan hereto (for the avoidance of doubt, if any Collateral Loan does not meet the below listed conditions, but such failure is waived by the Administrative Agent, such Collateral Loan shall still be subject to the Advance Rates, Concentration Limitations and Revaluation Events applicable to Recurring Revenue Loans set forth herein):

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • TIF Revenues means incremental ad valorem taxes generated on the Redevelopment Project Property by the Project which are to be allocated to and paid to the Authority pursuant to the Act.

  • Ramp-Up Period means the period from and including the Effective Date to, but excluding, September 23, 2016.

  • Trigger Amount with respect to Extraordinary Trust Expenses for the Trust is $25,000 and the Maximum Reimbursable Amount is $100,000. The Trustee Fee will be paid by the Expense Administrator. Expenses will be reimbursed by the Expense Administrator in accordance with the Expense Administration Agreement.