Milestone Shares. (a) On the Milestone Shares Completion Date, Cortendo must pay to ATL (in cleared funds) the Milestone Shares Subscription Price.
Milestone Shares. (i) For each of the fiscal years 2007, 2008 and 2009 for which the Revenues (as defined in Section 1.5(b)(iii)) of the Surviving Corporation equal or exceed 80% of the “Revenue Target” set forth below for such year, Parent shall issue that percentage of the shares of Parent Common Stock set forth in Section 1.5(b)(ii) as “Target Shares” for such year determined as follows: Revenues as % of Revenue Target Percentage of Target Shares (A) Less than 80% 0 % (B) 80% to 100% 50% plus 50% multiplied by a fraction the numerator of which is the difference between actual Revenues as a percentage of the Revenue Target less 80% and the denominator of which is 20%. By way of illustration, if actual Revenues are 87.5%, the percentage of Target Shares to be issued would be 50% plus 50% (87.5%-80%)/20% = 50% plus 18.75% =68.75%.
Milestone Shares. On each Applicable Distribution Date, by virtue of the Merger, if First, Second or Third Milestone Shares are earned based on achievement of the milestones set forth on the attached Exhibit D:
Milestone Shares. The Parties agree that the Milestone Shares shall be held by Buyer, in escrow, following the Closing Date, and shall be issued and released to the Aussie Soles Equity Owner in three tranches of two million (2,000,000) shares of K-9 Common Stock each upon satisfaction of three milestones (each, a “Milestone”) as set forth on Schedule 7.2 annexed hereto. In the event that the Milestones are not reached then the Parties agree that such Milestone Shares shall be forfeited by Aussie Soles and the Aussie Soles Equity Owner.
Milestone Shares. At the election of Investor (such election to be made within thirty (30) days from the receipt by Investor of notice that a Milestone Event has occurred), each Regulatory Milestone and Commercial Milestone shall be paid in shares of Common Stock. Notwithstanding the foregoing, the Company shall not be obliged to issue Milestone Shares to Investor at the occurrence of a Milestone Event if either:
Milestone Shares. At the Milestone Closing, the Company hereby agrees to issue and sell to the Purchaser, and the Purchaser agrees to purchase from the Company, the Milestone Shares at a price per share equal to the Milestone Share Price; provided, however, that if (i) the sum of the Milestone Shares plus the Initial Shares would exceed the Milestone Share Cap or (ii) the Company is required to, but has not, obtained any stockholder approval required to comply with Nasdaq rules or a similar rule for any portion of the Milestone Shares to be sold on the Milestone Closing Date, then the number of Shares to be purchased under this Section 2.2(b) shall be adjusted (the “Adjusted Share Amount”). In the case that Section 2.2(b)(i) applies, the Adjusted Share Amount shall be the number of Shares that, when added to the Initial Shares, equals the Milestone Share Cap. In the case that Section 2.2(b)(ii) applies, the Adjusted Share Amount shall be the number of Shares that the Company may sell to the Purchaser without being required to obtain such stockholder approval. If the Purchaser is required to purchase an Adjusted Share Amount pursuant to this Section 2.2(b), then the
Milestone Shares. The Parties agree that 5,306,250 of the 47,903,927 Consideration Shares to be issued by the Purchaser will, at Closing, be designated as Milestone Shares and deposited into escrow in accordance with Section 10.6.
Milestone Shares. (a) The Parties agree that, at Closing, an aggregate of 5,306,250 of the Consideration Shares (collectively, the "Milestone Shares") on a pre-Purchaser Consolidation basis (3,000,000 on a post-Purchaser Consolidation basis) will be deposited into escrow pursuant to the terms of an escrow agreement (the "Escrow Agreement") to be entered into among the Purchaser, certain of the Shareholders and an escrow agent to be appointed by the Purchaser, in its sole discretion, prior to the Closing.
Milestone Shares. Subject to the indemnification provisions set forth in Section 7, upon the achievement of certain milestones set forth in this Section 2.8(b), each Stockholder and Noteholder shall receive additional shares of Parent Common Stock as set forth in this Section 2.8(b) (the "Milestone Shares").
Milestone Shares. “Milestone Shares” has the meaning set forth in Section 1.7(d)(2).
