Second Tranche Milestone definition

Second Tranche Milestone means that the Included Product Payments for the twelve months ended December 31, 2014 is greater than $13,000,000.

Second Tranche Milestone is the Lenders receipt, at any time after the Second Amendment Effective Date, of evidence satisfactory to the Lenders that Borrower has achieved trailing six (6) month product revenues of at least Twenty Million Dollars ($20,000,000.00) for the six (6) month period most recently ended.

Second Tranche Milestone means Borrower Representative shall have provided evidence satisfactory to Administrative Agent on or prior to March 1, 2024 (but no earlier than October 1, 2023) that Borrower has achieved either: (i) positive data from its Phase 2b randomized controlled study of ALTO-100 that supports continued clinical development with a commercially viable product profile or (ii) positive data from its Phase 2b randomized controlled study of ALTO-300 that supports continued clinical development with a commercially viable product profile, in each case, as determined by Administrative Agent in its sole discretion.

Examples of Second Tranche Milestone in a sentence

• In addition, the Company shall notify the Holder if the Company satisfies the Second Tranche Milestone, such notice to be provided as soon as possible following such satisfaction.

• Subject to the foregoing and the other conditions precedent specified in Article 4.2 of the Loan and Security Agreement and this Supplement, Lender agrees to make a Growth Capital Loan to Borrower under the Second Tranche of the Commitment on from and after the date Borrower satisfies the Second Tranche Milestone up to and including the applicable Termination Date in an original principal amount equal to but not exceeding the Second Tranche of the Commitment.

• The Company will have completed its obligations pursuant to the Second Tranche Milestone in accordance with Sections 7.1 and 7.2, within the time period set forth in Section 2.2(C).

• For example, if the Commencement of Construction of the JV Plant Date occurs on the Second Tranche Milestone Date, the number of Warrant Shares that will vest as of such date will be 500,000, but if the Commencement of Construction of the JV Plant Date is 46 days after the Second Tranche Milestone Date, the number of Warrant Shares that will vest as of such date will be 270,000 [(500,000 – (46 × (1% × 500,000))].

• Within ten (10) days after the achievement of a Second Tranche Milestone, the Company shall deliver to each Purchaser a written notice setting forth such obligation (the “Second Tranche Notice”).

More Definitions of Second Tranche Milestone

Second Tranche Milestone means that Borrower Representative shall have provided evidence, satisfactory to Administrative Agent, that ASLAN LTD [***], each as determined by Administrative Agent in its reasonable discretion. Notwithstanding the foregoing, upon Borrower Representative’s request, so long as no Event of Default has occurred and is continuing, the Lenders may, in each Lender’s sole and absolute discretion, waive either subsection (a) and/or subsection (b).

Second Tranche Milestone means that Borrower Representative shall have delivered evidence satisfactory to Administrative Agent in its sole discretion that the Loan Parties have achieved (i) positive 24-week topline data from the ongoing Phase 2b ENLIVEN study of PGZ in Nonalcoholic Steatohepatitis (“XXXX”) supportive of continued clinical advancement with a commercially viable product profile, and (ii) initiation of a Phase 3 study of PGZ in SHTG.

Second Tranche Milestone means (a) $150 million of trailing 12 month Adjusted Revenue or (b) (i) $115 million of trailing 12 month Adjusted Revenue and (ii) at any time prior to end of such 12 month period the approval by the US. Food and Drug Administration (FDA) of Borrower‘s FoundationOne comprehensive genomic profiling assay.”

Second Tranche Milestone is defined in Section 2.2(b).

Second Tranche Milestone means that Borrower has (i) enrolled and dosed the first patient for either its (a) Registration Trial for EBV+ Lymphoma, or (b) Phase 1b for EBV+ Solid Tumors, and (ii) received at least Ten Million Dollars ($10,000,000) in Total Capital.

Second Tranche Milestone means all of the following: (i) The net income for the first half of the 2007 calendar year of the Company as audited by a “big 4” accounting firm in accordance with US GAAP shall be no less than US$4,000,000; provided that, net income shall exclude (i) extraordinary gain or revenue and excluding any revenue from Affiliates of the Covenantors that are not Group Companies as audited by a “big 4” accounting firm in accordance with US GAAP; (ii) any reasonable fees and expenses incurred or to be incurred with respect to this Agreement and the transactions contemplated hereby, including all legal, accounting, financial advisory or other similar fees; (iii) any compensation charge recorded in the consolidated financial statements of the Group Companies in relation to any options issued to employees of the Group Companies pursuant to a share option plan, provided that, such share option plan, option grant and exercise price has been adopted or approved, or will be adopted or approved by the Board, including at least one (1) Series A Director; (iv) any costs, expenses or charges recorded or to be recorded in the Company’s income statement as a result of the equity financing contemplated herein being determined to be a loan for accounting purposes; and (v) for the first half of 2007 calendar year of the Company only, all fees and expenses associated with creating, implementing and executing a systematic training program on United States laws in connection with anti-corruption and anti-bribery for all directors, officers, agents, employees, representatives or any other Persons associated with or acting for or on behalf of the foregoing of the Group Companies. (ii) Punctual and complete performance by the Group Companies of all the obligations set out in the Transaction Agreements; and (iii) No Material Adverse Effect following the First Closing.

Second Tranche Milestone means that Borrower Representative shall have provided evidence reasonably satisfactory to Administrative Agent that [***].