Funding Milestone means Borrower’s receipt, after October 1, 2016 but on or before December 31, 2016, of proceeds from the sale or issuance of Borrower’s equity or Subordinated Debt securities in an amount, from investors, and otherwise on terms acceptable to Bank.
Funding Milestone means, as of any date of determination, Borrower’s Recurring Revenue, annualized for the preceding 6 months, is at least $15,000,000, as of such date.
Funding Milestone means, as of any date of determination, Borrower’s Total Funded Debt is less than or equal to 75% of its Recurring Revenue, annualized for the preceding 3 months, as determined by Lender on the basis of Borrower’s most recent financial statements and Recurring Revenue Reports provided by Borrower to Lender pursuant to Section 5 of the Schedule. As used herein, “Total Funded Debt” means, at any date of measurement, the outstanding aggregate amount of Indebtedness owing to any Person (including pro forma amounts funded under the Term C Loan).
Examples of Funding Milestone in a sentence
In the event that Seller does not timely exercise the foregoing termination right, then the Funding Milestone #2 Period will be automatically extended for an additional thirty (30) calendar days.
In the event that Seller does not timely exercise the foregoing termination right, then the Funding Milestone #1 Period will be automatically extended for an additional thirty (30) calendar days.
Subject to the terms and conditions of this Agreement, the closing of the transaction contemplated by this Agreement (the "Closing") will take place on or before the date (the "Closing Date") that is forty-five (45) days after the later to occur of: (a) the delivery date of the Contingency Approval Notice (as defined below); or (b) the expiration of the Funding Milestone #2 Period (as defined below).
Buyer (and Buyer’s representatives, agents and consultants), will have a period commencing on the Effective Date and ending upon the later to occur of (i) the date that is sixty (60) days after the Effective Date; or (ii) the expiration of the Funding Milestone #2 Period (the "Inspection Period"), to inspect the Property.
The Funding Milestone Event Shares shall be deemed to be and treated as Additional Shares for all purposes of this Warrant.
More Definitions of Funding Milestone
Funding Milestone means receipt by Borrower after the Fourth Amendment Date and on or before June 30, 2022 of at least $60,000,000 from the sale or issuance of its equity securities and/or up-front cash payments from strategic partnerships other than any Regeneron payments.
Funding Milestone means the delivery of a written notice from the Borrower to Agent that states that the Phase2b data supports the continued development of MYDICAR for reducing hospitalization for heart failure in Nab-negative NYHA class III or class IV heart failure patients who are not in immediate need of a left ventricular assist device or heart transplant, with the next clinical step for such indication (other than the two previously planned studies as disclosed to Agent) being a phase III study or for registration for approval, all as reasonably determined by Borrower’s senior management and board of directors not later than June 30, 2015. For the avoidance of doubt, any determination by the Borrower’s senior management and board of directors that the Phase2b data supports the development of MYDICAR for other indications or supports the conduct of one or more different studies at any phase level will not prevent the occurrence of a Funding Milestone that would otherwise be deemed to have occurred upon satisfying the conditions in the previous sentence.
Funding Milestone means the simultaneous occurrence of (i) the Company having less than $2,000,000 in cash and cash equivalents (as determined pursuant to United States generally accepted accounting principles) and (ii) the Company having less than 5,000 third parties (e.g., an automobile repair shop) that as part of their business install or replace automobile parts, that are approved by the Company as being permitted to submit a quotation displayed on the Company’s website in response to an end user’s query that provides a price quote for an auto repair service with respect to that end user’s automobile (such approved third parties, “Approved Company Repair Shops”); provided, however, that, notwithstanding the foregoing, on the date that is (i) the one year anniversary of this Agreement, the “Funding Milestone” shall mean the Company having less than 2,000 Approved Company Repair Shops (irrespective of the amount of cash and cash equivalents held by the Company on such date) and (ii) the two year anniversary of this Agreement, the “Funding Milestone” shall mean the Company having less than 5,000 Approved Company Repair Shops (irrespective of the amount of cash and cash equivalents held by the Company on such date). For the avoidance of doubt, the parties to this Agreement acknowledge and agree that following the date that is the two year anniversary of this Agreement, the Funding Milestone cannot be triggered, and this Section 2.3 shall automatically terminate and be of no further force or effect, including, without limitation, the obligation of U.S. Auto Parts to purchase Shares at the Parts Closing.
Funding Milestone means receipt by Borrower after the Fifth Amendment Date and on or before September 30, 2023 of at least $60,000,000 from the sale or issuance of its equity securities and/or up-front cash payments from strategic partnerships other than any Regeneron payments.
Funding Milestone means the receipt by JET of $40,000,000 (excluding (i) the proceeds raised in connection with this Offering and (ii) any commissions, fees or other expenses payable by JET in excess of [REDACTED: Commercially sensitive information regarding limit on fees for future financings] of the gross proceeds of any fundraising transaction) (the “Milestone Funds”) in connection with additional financings to be directed by the Company. For greater certainty, the Milestone Funds shall include any amounts received by JET on or after November 1, 2018 from: (1) the proceeds of any exercise of warrants and the amount of long term financial debt commitments obtained by the JET or JET Operations, [REDACTED: Commercially sensitive information regarding debt commitments]; and (iii) shall have an interest rate that is less than or equal to 12% per annum and provided that in any case JET shall have used commercially reasonable efforts to obtain the lowest possible interest rate; and (2) any proceeds from the sale of new securities of the JET or JET Operations, or the exercise of existing securities of JET, provided that the amounts received were credited into bank accounts of the JET or JET Operations on or before the day calculations in regards to the achievement of the Funding Milestone are made and on such date that there are no restrictions for further use of such funds. Any other forms of funding shall be included in calculation of the Funding Milestone only if agreed upon between JET and SLAS in writing;
Funding Milestone means Borrower’s receipt of net Cash proceeds of at least $20,000,000 (in addition to any amounts received by Borrower in connection with that certain First Amendment to Loan and Security Agreement by and among Borrower and Bank dated on the First Amendment Effective Date) from the issuance and sale of Borrower’s equity securities to investors and on terms and conditions satisfactory to Bank.
Funding Milestone means Borrower’s consummation of, and receipt of the funding specified in, the transaction underlying the Term Sheet on or prior to June 30, 2018.