Tranche B Milestones definition
Tranche B Milestones means (i) the receipt by Borrower of at least $5,200,000 of gross cash proceeds from the sale of the second tranche of its Series A equity securities, and (ii) Flagship Ventures Management Inc. or an affiliate thereof confirms to Bank that Flagship Ventures Management Inc. or an affiliate thereof is satisfied with Borrower’s performance relating to (I) hiring of a senior management team, (II) selection of lead indication and lead product, (III) establishment of a manufacturing process at a scale to perform large animal pharm/tox studies and (IV) broadening of Borrower’s intellectual property portfolio. All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or acquired, and wherever located, including, but not limited to:
Tranche B Milestones means (i) the receipt by Borrower of at least $5,500,000 of gross cash proceeds after the Closing Date from the sale of its Series A equity securities, (ii) Borrower’s achievement of preclinical POC in at least two indications and (iii) Flagship Ventures Management, Inc. (or an Affiliate thereof) confirms to Bank that Flagship Ventures Management, Inc. (or an Affiliate thereof) is satisfied with Borrower’s preclinical POC achievement relative to plan. All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or acquired, and wherever located, including, but not limited to:
Tranche B Milestones means Bank’s receipt of evidence reasonably satisfactory to Bank that (i) the 1000 patient interim analysis in the REGULATE-PCI study has been completed and the interim analysis is successful and performed by April 30, 2014, and (ii) Borrower completed its initial public offering and received net cash proceeds of at least $50,000,000 from such initial public offering prior to June 30, 2013.
More Definitions of Tranche B Milestones
Tranche B Milestones means (i) the receipt by Borrower of at least $5,200,000 of gross cash proceeds from the sale of the second tranche of its Series A equity securities, and (ii) Flagship Ventures Management Inc. or an affiliate thereof confirms to Bank that Flagship Ventures Management Inc. or an affiliate thereof is satisfied with Borrower’s performance relating to (I) hiring of a senior management team, (II) selection of lead indication and lead product, (III) establishment of a manufacturing process at a scale to perform large animal pharm/tox studies and (IV) broadening of Borrower’s intellectual property portfolio. DEBTOR RUBIUS THERAPEUTICS, INC. SECURED PARTY: PACIFIC WESTERN BANK EXHIBIT B COLLATERAL DESCRIPTION ATTACHMENT TO LOAN AND SECURITY AGREEMENT All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or acquired, and wherever located, including, but not limited to: