Equity Milestone. On or before July 6, 2012, Borrower shall deliver to Bank evidence, in form and substance satisfactory to Bank, that Borrower has received, between May 1, 2012 and July 6, 2012, at least $4,000,000 in new cash proceeds (excluding the conversion of any convertible debt securities outstanding as of April 30, 2012) from the sale and issuance of its equity securities or Subordinated Debt securities.
Equity Milestone. On or before December 15, 2012, Borrower shall have received at least $5,000,000 in net Cash proceeds from the sale or issuance of Borrower's equity securities to investors acceptable to Bank.
Equity Milestone. Section 6.7 of the Loan Agreement hereby is amended and restated in its entirety to read as follows:
Equity Milestone. Co-Borrowers shall deliver evidence, reasonably satisfactory to Bank, that Co-Borrowers have received, after the Third Amendment Effective Date but on or prior to June 30, 2021, at least Twenty-Five Million Dollars ($25,000,000) in gross cash proceeds from the exercise of warrants issued pursuant to the Securities Purchase Agreement dated December 20, 2019 by and among Parent and the Investors identified on Exhibit A attached thereto or from the sale of Parent’s equity securities to investors and on terms and conditions reasonably acceptable to Bank.”
Equity Milestone. By May 15, 2020, Borrower shall have received at least $15,000,000 net Cash proceeds from the issuance of Borrower’s equity securities after the date of the Ninth Amendment to investors and on terms acceptable to Bank acceptable to Bank in its good faith business judgment and provided evidence thereof acceptable to Bank acceptable to Bank in its good faith business judgment.
Equity Milestone. Borrower shall provide to Bank the following:
Equity Milestone. Borrower shall deliver evidence, satisfactory to Bank in its sole discretion, that Borrower has, after the Fifth Amendment Effective Date, but on or prior to October 15, 2018, received at least Seven Million Five Hundred Fifty Thousand Dollars ($7,550,000) of net cash proceeds from the sale of Borrower’s equity securities to investors and on terms and conditions reasonably acceptable to Bank (the “Equity Milestone”). For the avoidance of doubt cash proceeds received by Borrower from the sale of its equity securities to Orbimed on or about the Fifth Amendment Effective Date shall not be included as part of the Equity Milestone.”
Equity Milestone. Borrower shall deliver evidence, satisfactory to Bank in its sole but reasonable discretion, that Borrower has, after the Seventh Amendment Effective Date, but on or prior to August 9, 2019, received at least Three Million Three Hundred Thousand Dollars ($3,300,000) of net cash proceeds from the sale and issuance of Borrower’s equity securities, or of debt instruments convertible into equity securities of Borrower (the “Equity Milestone”).”
Equity Milestone. Between the Closing Date and January 15, 2014, Borrowers shall have received at least $2,000,000 in cash proceeds from the sale and issuance of Parent’s equity securities or Subordinated Debt securities.
Equity Milestone. In lieu of compliance with Sections 6.7, 6.8 and 6.9 for all measurement periods before (but not including) September 30, 2007, Borrower may sell its equity securities in an underwritten offering pursuant to a registration statement on Form S-1 filed under the Securities Act of 1933, as amended, provided Borrower receives proceeds from such offering in an amount at least equal to 12 months liquidity.
