Term B Milestone definition

Term B Milestone means Borrower’s delivery to Collateral Agent and Lenders of evidence, satisfactory to Collateral Agent and Lenders in their sole discretion, that Borrower has either (a) received the Regulatory Milestone Payment (as defined in the Secura Acquisition Agreement) from Secura Bio, Inc. in the amount of Thirty-Five Million Dollars ($35,000,000.00) for the first approval of an NDA (as defined in the Secura Acquisition Agreement) for COPIKTRA in the United States by the FDA for the treatment of Peripheral T-Cell Lymphoma pursuant to Section 3.1(a) of the Secura Acquisition Agreement or (b) received at least Fifty Million Dollars ($50,000,000.00) in net unrestricted cash proceeds from the sale or issuance of Borrower’s equity securities after the Effective Date.

Term B Milestone means Borrower’s delivery to Collateral Agent and Lenders of both (a) evidence, satisfactory to Collateral Agent and Lenders in their reasonable discretion, that Borrower has [**], and (b) evidence, satisfactory to Collateral Agent and Lenders in their sole but reasonable discretion, that Borrower has [**].

Term B Milestone means Xxxxxxxx’s achievement of positive data from the cohort in relapsed/refractory AML patients in connection with Xxxxxxxx’s SY-1425 Phase 2 trial program in combination with azacitidine; provided that Borrower has provided to Collateral Agent written evidence of the same, in form and content acceptable to Collateral Agent in its sole discretion.

Examples of Term B Milestone in a sentence

• The Company may draw the Term B Loan during the period commencing on the date of the occurrence of the Term B Milestone Event and ending on the earliest of (i) September 30, 2021 (ii) the sixtieth (60th) day following the occurrence of the Term B Milestone Event, and (iii) the occurrence of an event of default.

• The Company may draw the Term B Loan during the period commencing on the date of the occurrence of the Term B Milestone Event and ending on the earliest of (i) December 31, 2020, (ii) the thirtieth (30th) day following the occurrence of the Term B Milestone Event, and (iii) the occurrence of an event of default by the Company.The Company’s obligations under the Loan and Security Agreement are secured by all assets of the Company, other than its intellectual property.

• From and after the date on which the Term B Milestone is achieved, and until the two (2) week anniversary thereof, Borrower may elect to terminate each Lender’s Term Loan Commitment in respect of the Term B Loan.

• As in YYP, the default values can be the initial or final positions of the last tracked particle.NP a set of NX,NZ,NL particles with emittance EX/PI,EZ/PI,EL/PI and phases equally distributed in [0, 2π ] is generated in the horizontal, vertical and longitudinal phase spaces.

• Subject to the Borrower having first achieved the Term B Milestone by the expiration of the Term B Draw Period and the other terms and conditions of this Agreement, the Lenders agree, severally and not jointly, to make a term loan to Borrower during the Term D Draw Period in an aggregate principal amount of up to Twenty Million ($20,000,000.00) according to each Lender’s Term Loan Commitment as set forth in Schedule 1.1 hereto (the “ Term D Loan”).

More Definitions of Term B Milestone

Term B Milestone is Collateral Agent’s receipt of satisfactory evidence that Borrower (i) has received FDA approval of Tenapanor for use in certain patients with Hyperphosphatemia on or prior to December 31, 2022 and (ii) has achieved a minimum of Thirty Million Dollars in Net Product Revenue calculated on a trailing six (6) month basis.

Term B Milestone means Borrower’s delivery to Collateral Agent and Lenders of evidence, reasonably satisfactory to Collateral Agent and Lenders in their sole discretion, that Borrower has achieved INTEGRIS-IPF Phase 2a data, sufficient to advance PLN-74809 into pivotal Phase 2b/3 IPF clinical trials.

Term B Milestone is Borrower’s delivery to Collateral Agent and the Lenders of evidence, satisfactory to Collateral Agent and the Lenders in their sole but reasonable discretion, that Borrower has both (i) publicly announced the Phase 3 clinical trial (SAPPHIRE) design for SRK-015 (Apitegromab) and registration of such clinical trial with xxxxxxxxxxxxxx.xxx and (ii) initiated the Part B of the DRAGON Phase 1 clinical trial for SRK-181 (as confirmed by public disclosure). ​ ​ ​

Term B Milestone is the achievement of Borrower, after the Effective Date, of (i) meeting the primary end points for either (A) FACT-1 clinical trial with Genentech, Inc. and National Surgical Adjuvant Breast and Bowel Project or (B) FACT-2 clinical trial with Puma Biotechnology, Inc. and West Cancer Center, (ii) receipt of unrestricted net cash proceeds of at least Fifty Million Dollars ($50,000,000.00) from the sale and issuance of Borrower’s equity securities after the Effective Date, (iii) the ratio of aggregate amount of Indebtedness of Borrower to its then pro forma market capitalization equal to fifteen percent (15.00%) or less and (iv) compliance with its obligations under Section 6.12 (without taking into account any cure or remedy for a breach of such obligations) at all times through quarter ending immediately prior to the Funding Date of the Term B Loan.

Term B Milestone is Collateral Agent’s receipt of satisfactory evidence that Borrower has received FDA approval of Tenapanor for use in certain patients with Hyperphosphatemia on or prior to November 30, 2023.

Term B Milestone is Borrower’s delivery to Collateral Agent and the Lenders of evidence, satisfactory to Collateral Agent and the Lenders in their sole but reasonable discretion, that Borrower has both (i) dosed the first patient in a Phase 3 clinical trial for XXXXX XXX-000 (or, with the prior written consent of Collateral Agent and the Lenders in their sole discretion, in a registrational clinical trial for XXXXX XXX-000 if a Phase 3 clinical trial is not required for registration of TOPAZ SRK-015), and (ii) dosed the first patient in Part B of the DRAGON Phase 1 clinical trial for SRK-181.

Term B Milestone is the achievement by Borrower of (i) TTM Net Product Revenue of [*], and (ii) the pro forma, after giving effect to the Term B Loan, ratio of aggregate amount of Indebtedness of Borrower to its then Market Capitalization (based on a 30-day volume weighted average price) equal to twenty five percent (25.00%) or less.