First Milestone. Within [***] ([***]) days after the date of Satisfactory Completion of the [***] of a Product in [***] by Parent, its Affiliate or a sublicensee, such date being the “First Milestone,” Parent shall pay to the Company Stockholders a non-refundable, non-creditable milestone payment in the aggregate amount of [***] Dollars ($[***]) in cash, less the Setoff Amount and less [***] ([***]) of the Assumed Company Payables, and [***] Dollars *** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. ($[***]) payable in shares of Parent Common Stock, based on the Parent Stock Price as of the trading day prior to the date hereof (the “First Milestone Payment Amount”), with such payment allocated among the Company Stockholders in accordance with Section 2.8.
First Milestone. The first milestone is reached with the accepted submission of the research proposal and must be reached by the end of the third semester at the latest. The doctoral candidate must submit the following information, which constitutes the first progress report: 1. A research proposal, which gives the preliminary title of the planned thesis, the research question to be investigated, the planned methodology, the anticipated outcomes and a bibliography. 2. A time schedule for the completion of the doctoral thesis. 3. A current transcript of courses and research seminars/colloquia. In addition, the doctoral candidate presents her/his thesis concept at a colloquium of the Graduate School. Based on the recommendation of the thesis committee, the Board of the Graduate School decides if the candidate can continue her/his doctoral studies in the Graduate School. In the case of failure, the acceptance as a doctoral candidate of the Graduate School may be withdrawn.
First Milestone a. PERIOD ONE: On or before the end of the 24th month from the Entitlement Date the Company must achieve an aggregate Investment in the Project of at least $90,000,000. If the Company fails to satisfy this level of Investment by the end of the 24th month after the Entitlement Date then the Company will be required to pay a Supplemental Payment. This payment would be in an amount which is a percentage of the Base Amount equal to 3.0 times the percentage by which the Company’s Investment underachieved the targeted amount times the Base Amount due and payable for the next-ensuing PILOT Year (or, if the Company has made a lump sum payment of the Base Amount as provided in the Agreement, then times the Base Amount that would otherwise have been due and payable for the next- ensuing PILOT Year). For example, if the Company underachieved the milestone Investment by 50% ($45,000,000) the Supplemental Payment would equal 150% (3 times 50%) times the Base Amount due for the next-ensuing PILOT Year. Exhibit Schedule 1 sets forth an example of the calculation assuming a Base Amount of $355,901, which would yield a Supplemental Payment of $533,852 (150% (i.e. 50% times 3) times Base Amount of $355,901equals $533,852).
First Milestone. Schering shall pay RPI US [ ] upon completion of a relevant animal efficacy model, as discussed by the Research Committee, that in the unanimous opinion of the Research Committee demonstrates that a particular Ribozyme (i) will most likely be a Ribozyme Product with efficacy in man with an acceptable, appropriate therapeutic ratio or (ii) provides sufficient information to enable Schering to design and conduct the research Confidential portions ( [ ] ) have been omitted pursuant to regulation 240.25b-2(b) of the Securities Exchange Act of 1934 and have been filed separately with the Commission. 25 and development of a Non-Ribozyme Product with efficacy in man with an acceptable, appropriate therapeutic ratio ("First Milestone Payment").
First Milestone. The Zoning Permits have been issued. Landlord shall use commercially reasonable best efforts to achieve the First Milestone no later than the First Milestone Date.
First Milestone. Within 30 days following the achievement of the First Milestone prior to a Change of Control, La Jolla will issue to GliaMed an additional 2,420 shares of Series E Preferred Stock; and
First Milestone. If the Change of Control is consummated prior to the achievement of the First Milestone, then La Jolla (or the Acquirer) shall pay GliaMed $3,000,000 in cash within 30 days following the achievement of the First Milestone; and
First Milestone. Dollar ($***) within *** of receipt by Mist or its designated Affiliate, as applicable, of *** that *** has been *** ***.
First Milestone. The First Milestone means the date within 9 months from the Closing in which all of the following has been achieved by the Company: · Update to the grammar tool that will include: (1) a new implemented classifier and parser, (2) at least 4 of the 6 contemplated new features listed below, and (3) debugging of most current “false positives” · Recruit a qualified executive satisfactory to the Investors who will be responsible for structuring the organization of the Company and for deal closing · Obtain an average of authorized sales of $135,000 per month for a period of at least 3 months, while maintaining an ROI of at least 1.8. · Complete infra structure for collecting sales and user related data. New Features:
First Milestone. AVANT will pay SELECT [***] no later than thirty (30) days after obtaining [***] (the “First Milestone”).
