Term C 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 received accelerated or full FDA approval of VS-6766 for the treatment of Low-Grade Serous Ovarian Carcinoma.
Term C Milestone means Borrower’s delivery to Collateral Agent and the Lenders of evidence, satisfactory to Collateral Agent and Lenders in their sole but reasonable discretion, that Borrower has achieved positive topline data in Borrower’s MISSION Phase 2 trial sufficient to advance the program into Phase 2(b) or a registration-enabling trial, and as confirmed by Borrower’s Board of Directors in written board minutes.
Term C Milestone means Borrower’s delivery to Collateral Agent and Lenders of evidence, satisfactory to Collateral Agent and Lenders in their sole discretion, of Borrower’s (i) public announcement on or before December 15, 2024 of Term C Milestone Positive Phase III Data for the Phase III SELECT MDS-1 Trial and (ii) Borrower’s receipt of net unrestricted (other than pursuant to this Agreement) proceeds of at least Seventy-Five Million Dollars ($75,000,000.00) from the sale of equity securities of Syros in a single equity transaction within sixty (60) days after the date of such public announcement.”
Examples of Term C Milestone in a sentence
The Company may draw the Term C Loan during the period commencing on the date of the occurrence of the Term C Milestone Event and ending on the earliest of (i) December 31, 2022 (ii) the sixtieth (60th) day following the occurrence of the Term C Milestone Event, and (iii) the occurrence of an event of default.
From and after the date on which the Term C 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 C Loan.
More Definitions of Term C Milestone
Term C 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 both (i) INTEGRIS-PSC (Primary Sclerosing Cholangitis) Phase 2a data, sufficient to advance PLN-74809 into pivotal Phase 2b/3 PSC (Primary Sclerosing Cholangitis) clinical trials and (ii) IND approval for either the αvß8 oncology product candidate or the α7ß1 muscular dystrophy product candidate.
Term C Milestone means Borrower’s delivery to Collateral Agent and Lenders of evidence, satisfactory to Collateral Agent and Lenders in their sole but reasonable discretion, that Borrower [**].
Term C Milestone is the achievement of Borrower of (i) meeting the primary end points for either (A) commencement of a Phase 3 clinical trial with Genentech, Inc. or Puma Biotechnology, Inc., (ii) receipt of unrestricted net cash proceeds of at least Seventy Five Million Dollars ($75,000,000.00) from the sale and issuance of Borrower’s equity securities after the Funding Date of Term B Loans, (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 C Loan.
Term C Milestone is the achievement by Borrower of TTM Revenue of at least [***] after the Effective Date.
Term C Milestone is the (i) the Funding of the Term A Loan and (ii) the achievement by Borrower and its Subsidiaries of aggregate revenues from the sales of Oncotype DX GPS products, determined in accordance with IFRS, for the fiscal year 2024 of not less than $30,700,000.00.
Term C Milestone is the achievement of Borrower of (i) at least fifty percent (50%) of the targeted enrollment for the wild-type Study 1 Arm A and the Study 1 Arm C in the VIKTORIA-1 clinical trial for Borrower’s product candidate Gedatolisib, (ii) the pro forma aggregate funded principal amount of the Term Loans (i.e., after giving effect to the funding of the Term C Loan) as a percentage of the volume weighted average market capitalization of Borrower for the 10 trading days immediately preceding the Funding Date of the Term C Loan is 25% or less and (iii) 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 C Loan.
Term C Milestone means Borrower has achieved positive final Phase 2 data from at least one of the following three programs: (i) pegylated interferon-lambda LIMT-HDV Phase 2 trial in hepatitis delta virus, (ii) the Exendin Prevent Phase 2 trial in post-bariatric surgery associated hypoglycemia, or (iii) the Ubenimex ULTRA Phase 2 trial in lymphedema; in each case, 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.