Initial Milestone definition

Initial Milestone has the meaning given to it in the table in Part B of this Schedule 5;

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Initial Milestone means the receipt by Medgenics' adenovector production lab in Texas of the first plasmid containing an expression cassette including the hFVIII gene. If and when Medgenics achieves the target in vitro performance milestone as set forth in the Development Plan (the “In Vitro Milestone”), Medgenics shall deliver written notice to Baxter of such achievement. Within forty-five (45) days of the delivery of the notice regarding the achievement of the In Vitro Milestone, Baxter shall make a payment to Medgenics in the amount of Two Hundred Fifty Thousand Dollars ($250,000) (the “In Vitro Milestone Payment”). If and when Medgenics achieves the target animal performance milestone as set forth in the Development Plan (the “Animal Milestone”), Medgenics shall deliver written notice to Baxter of such achievement. Within forty-five (45) days of the delivery of the notice regarding the achievement of the Animal Milestone, Baxter shall make a payment to Medgenics in the amount of Two Hundred Fifty Thousand Dollars ($250,000) (the “Animal Milestone Payment”). The In-Vitro Milestone Payment and the Animal Milestone Payment shall be non-refundable and non-creditable.

Initial Milestone means the initial Public Offering.

Examples of Initial Milestone in a sentence

• The "Initial Milestone Delivery Date" applicable to this Contract for Difference shall be eighteen (18) months after the Agreement Date.

• The representations and warranties of the Company contained in Section 2 above shall be true on and as of the Initial Milestone Closing Date with the same effect as though such representations and warranties had been made on and as of the Initial Milestone Closing Date.

• The representations and warranties of Schering contained in Section 3 shall be true on and as of the Initial Milestone Closing Date with the same effect as though such representations and warranties had been made on and as of the Initial Milestone Closing Date.

• Schering shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be performed or complied with by it on or before the Initial Milestone Closing Date.

• All corporate and other proceedings in connection with the transactions contemplated at the Initial Milestone Closing and all documents incident thereto shall be reasonably satisfactory in form and substance to Schering and Schering's counsel, and they shall have received all such counterpart original and certified or other copies of such documents as they may reasonably request.

• The Chief Executive Officer of the Company shall deliver to Schering at the Initial Milestone Closing a certificate certifying that the conditions specified in Sections 4.1(a), 4.1(b), and 4.1(c) hereof have been fulfilled and stating that there has been no Material Adverse Change in the Company since January 1, 1995.

• The Company shall have performed and complied with all agreements, obligations, and conditions contained in this Agreement that are required to be performed or complied with by it on or before the Initial Milestone Closing Date.

• The "Initial Milestone Delivery Date" applicable to this Contract for Difference shall be twelve (12) months after the Agreement Date.

• At the Initial Milestone Closing, the Company shall deliver to Schering a certificate or certificates, registered in Schering's name, representing the Shares purchased at the Initial Milestone Closing, and Schering shall pay the total consideration for such Shares by wire transfer in immediately available funds to an account designated by the Company.

• All authorizations, approvals, or permits, if any, of any governmental authority or regulatory body of the United States or of any state that are required for consummation of the transactions contemplated by this Agreement shall have been duly obtained, including, without limitation, the expiration or earlier termination of any notice and waiting period under the ▇▇▇▇-▇▇▇▇▇-▇▇▇▇▇▇ Antitrust Improvements Act of 1976, as amended, and shall be effective on and as of the Initial Milestone Closing Date.

More Definitions of Initial Milestone

Initial Milestone and “Initial Milestones” have the meanings set forth in Section 1(b).

Initial Milestone means the completion of the Building foundation.

Initial Milestone consisting of the following events: 40% (i) the Optionee paying to the Optionor (or its nominee) USD $50,000 as follows (the “Initial Payment”): (A) USD$25,000 within seven days of the execution of this Agreement, and (B) USD$25,000 within 45 days of the execution of this Agreement; and (ii) the Optionee expending not less than USD$300,000 (the “First Target”) in Exploration Expenditures on the Property on or before January16, 2010.

Initial Milestone means, the earlier of (i) one year following the date of the consummation of the Business Combination (the “Closing Date”) and (ii) after the Closing Date, (x) if the last sale price of the Class A Shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any twenty (20) trading days within any thirty (30) trading day period commencing at least one hundred fifty (150) days after the Closing Date or (y) the date on which SPAC completes a liquidation, merger stock exchange or other similar transaction that results in all of SPAC’s stockholders having the right to exchange their Class A Shares for cash, securities or other property.