First Revenue Event definition

First Revenue Event is the achievement by Borrower for the first time after the Effective Date and before March 31, 2021 of consolidated trailing six month revenues of at least Twenty Million Dollars ($20,000,000), determined by Collateral Agent at the end of any fiscal month of Borrower based upon written evidence satisfactory to Collateral Agent.
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First Revenue Event is the achievement by Lombard Cayman Guarantor, after the Effective Date, of consolidated trailing six-month product sale revenues of at least Eight Million Five Hundred Thousand Dollars ($8,500,000.00), determined by Collateral Agent at the end of any fiscal month of Lombard Cayman Guarantor, based upon written evidence satisfactory to Collateral Agent.
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First Revenue Event means delivery by Borrower to Lender, on or prior to March 15, 2014, of evidence satisfactory to Lender in Lender’s sole discretion (it being agreed that Borrower’s 10-K shall be satisfactory evidence), that Borrower (not calculated on a consolidated basis) has achieved total Gross Commercial Revenues of at least Six Million Dollars ($6,000,000) for the three (3) month period beginning October 1, 2013 through and including December 31, 2013.
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Examples of First Revenue Event in a sentence

  • For the avoidance of doubt, in the event that (x) the First Revenue Event does not occur, the fees set forth in this Section 2.5(d)(i) shall not be due and payable, and (y) the Second Revenue Event does not occur, the fees set forth in this Section 2.5(d)(ii) shall not be due and payable.


More Definitions of First Revenue Event

First Revenue Event is the achievement by Borrower, for the fiscal year 2014, of (i) seventy-five percent (75%) of its projected net Nexafed cash receipts set forth in the Projected Receipts and (ii) seventy-five percent (75%) of its projected Oxecta royalty receipts set forth in the Projected Receipts, and delivery of evidence of such achievement by Borrower to Collateral Agent, on or before February 15, 2015, in such form and substance as is acceptable to Collateral Agent in its discretion.
Sample 1
First Revenue Event is the achievement by U.S. Borrower on or after the Effective Date for each of its months and or before October 31, 2017 (with respect to the six-month period then ending), of consolidated trailing six-month Keveyis Net Product Revenues of at least [****] Dollars ($[****]), as determined by Collateral Agent based upon written evidence satisfactory to Collateral Agent.
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Related to First Revenue Event

  • Acquisition Period means any period commencing on the date that a Material Acquisition is consummated through and including the last day of the second full fiscal quarter following the date on which such acquisition is consummated; provided that there shall be at least one full fiscal quarter between any two Acquisition Periods.

  • Post-Acquisition Period means, with respect to any Permitted Acquisition, the period beginning on the date such Permitted Acquisition is consummated and ending on the last day of the sixth full consecutive fiscal quarter immediately following the date on which such Permitted Acquisition is consummated.

  • Specified Acquisition Period means a period elected by the Borrower that commences on the date elected by the Borrower, by notice to the Administrative Agent, following the occurrence of a Specified Acquisition and ending on the earliest of (a) the third Quarterly Testing Date occurring after the consummation of such Specified Acquisition, (b) the date designated by the Borrower as the termination date of such Specified Acquisition Period, or (c) the Quarterly Testing Date on which the Borrower is in compliance with Section 7.09 as such compliance is determined as if such period was not a Specified Acquisition Period; provided, in the event the Leverage Ratio exceeds 5.00 to 1.00 as of the end of any Fiscal Quarter in which a Specified Acquisition has occurred, the Borrower shall be deemed to have so elected a Specified Acquisition Period with respect thereto on such last day of such Fiscal Quarter, and provided, further, following the election (or deemed election) of a Specified Acquisition Period, the Borrower may not elect (or be deemed to have elected) a subsequent Specified Acquisition Period unless, at the time of such subsequent election, the Leverage Ratio does not exceed 5.00 to 1.00; and provided further with respect to a Specified Acquisition by an Unrestricted Subsidiary or a joint venture, a Specified Acquisition Period may be elected by the Borrower (or may be deemed elected by the Borrower) only if the consideration for such Specified Acquisition is raised by the Borrower or a Subsidiary. Only one Specified Acquisition Period may be elected (or deemed elected) with respect to any particular Specified Acquisition.

  • Ramp-Up Period means the period from and including the Effective Date to, but excluding, September 23, 2016.

  • Liquidity Event means a Change of Control or an IPO.

  • Post-Transaction Period means, with respect to any Specified Transaction, the period beginning on the date such Specified Transaction is consummated and ending on the last day of the eighth full consecutive fiscal quarter immediately following the date on which such Specified Transaction is consummated.

  • Milestone Event has the meaning set forth in Section 8.4.

  • Mid-Month Receipt Period With respect to each Distribution Date, the one month period beginning on the Determination Date (or, in the case of the first Distribution Date, from and including the Cut-Off-Date) occurring in the calendar month preceding the month in which such Distribution Date occurs and ending on the day preceding the Determination Date immediately preceding such Distribution Date.

  • Start-up Period means up to 7 Academy Financial Years and covers the period up to and including the first Academy Financial Year in which all age groups are present at the Academy (that is, all the pupil cohorts relevant to the age range of the Academy will have some pupils present).

  • Ownership Change Event means the occurrence of any of the following with respect to the Company: (i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of securities of the Company representing more than fifty percent (50%) of the total combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of Directors; (ii) a merger or consolidation in which the Company is a party; or (iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company (other than a sale, exchange or transfer to one or more subsidiaries of the Company).

  • Earnout Period has the meaning set forth in Section 2.5(a)(iii).

  • Run-out Period means a period after the close of a Plan Year or other period during which Participants in a flexible spending arrangement (FSA) may request reimbursement for expenses incurred during the Period of Coverage.

  • Put Event means the occurrence of any of the following:

  • Earn-Out Period has the meaning set forth in Section 2.5(a).

  • Lock-up Period means the period beginning on the date hereof and continuing through the close of trading on the date that is 90 days after the date of the Prospectus (as defined in the Underwriting Agreement).

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • Projected PJM Market Revenues means a component of the Market Seller Offer Cap calculated in accordance with Tariff, Attachment DD, section 6. Proportional Multi-Driver Project: “Proportional Multi-Driver Project” shall have the same meaning provided in the Operating Agreement. Pseudo-Tie:

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Sale Transaction has the meaning set forth in Section 3(a).

  • Partnership Change of Control means Tesoro Corporation ceases to Control the General Partner.

  • Ramp Period The Ramp Period shall begin on the Effective Date and continue for a period of 3 months following the Effective Date. Commencing with the Effective Date and at all times during the Ramp Period thereafter, Customer will receive the rates, discounts, charges and credits set forth herein and will not be subject to the AVC. Annual Volume Commitment (“AVC”): $360,000 in Total Service Charges (“AVC”) during each contract year of the Term (following the expiration of the Ramp Period).

  • Acquisition Event means a merger or consolidation in which the Company is not the surviving entity, any transaction that results in the acquisition of all or substantially all of the Company’s outstanding Common Stock by a single person or entity or by a group of persons and/or entities acting in concert, or the sale or transfer of all or substantially all of the Company’s assets.

  • Optimal Adjustment Event With respect to any Class of Class B Certificates and any Distribution Date, an Optimal Adjustment Event will occur with respect to such Class if: (i) the Principal Balance of such Class on the Determination Date succeeding such Distribution Date would have been reduced to zero (regardless of whether such Principal Balance was reduced to zero as a result of principal distribution or the allocation of Realized Losses) and (ii) (a) the Principal Balance of any Class of Class A Certificates would be subject to further reduction as a result of the third or fifth sentences of the definition of Principal Balance or (b) the Principal Balance of a Class of Class B Certificates with a lower numerical designation would be reduced with respect to such Distribution Date as a result of the application of clause (ii) of the definition of Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance or Class B-6 Principal Balance.

  • Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.