Initial Payment Milestone definition

Initial Payment Milestone means such term as defined in the Contribution Agreement.
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Initial Payment Milestone means a preliminary determination from the U.S. Food and Drug Administration received prior to September 30, 2008 that the Licensed Products will be regulated as a medical device, and (ii) the term “Second Payment Milestone” shall mean (A) a determination by the U.S. Food and Drug Administration (“FDA”) that a Licensed Product is substantially equivalent to a predicate device in accordance with Section 513(f)(1) or 510(k) of the Federal Food, Drug, and Cosmetic Act (as amended, the “FDC Act”) or any other marketing authorization of a Licensed Product by the FDA as a medical device, (B) the issuance of a “Classification Decision” as such term is used in Attachment 1 of the FDA Guidance for Industry and CDRH Staff titled “New Section 513(f)(2) - Evaluation of Automatic Class III Designation” issued by the FDA on February 19, 1998, with respect to a Licensed Product, or (C) the receipt of a formal response to a “Request for Designation” from the Office of Combination Products that designates a Licensed Product as a device, in each of cases (A) through (C) prior to June 30, 2009.”
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Examples of Initial Payment Milestone in a sentence

  • The parties hereto acknowledge and agree that the Initial Payment Milestone is deemed to be achieved as of the date of this Amendment and that payment of the Nordic capital contribution to Newco pursuant to Section 3.6(a) of the Partnership Agreement, as amended hereby, and payment by Newco of the Second Cash Payment pursuant to Section 5.1(a)(ii) of the Contribution Agreement, as amended hereby, will each occur on or before the twenty-first day after the date of this Amendment.

  • The parties hereto acknowledge and agree that the Initial Payment Milestone is deemed to beachieved as of the date of this Amendment and that payment of the Nordic capital contribution to Newco pursuant to Section 3.6(a) of the Partnership Agreement, as amended hereby, and payment by Newco of the Second Cash Payment pursuant to Section 5.1(a)(ii) of the Contribution Agreement, as amended hereby, will each occur on or before the twenty-first day after the date of this Amendment.

Related to Initial Payment Milestone

  • Development Milestone Payment shall have the meaning set forth in Section 9.2(a).

  • Sales Milestone Payment shall have the meaning set forth in Section 8.4.

  • Milestone Payment Date has the meaning set forth in Section 2.4(a).

  • Development Milestone Event shall have the meaning set forth in Section 9.2(a).

  • Milestone means an event or task described in the Implementation Plan which must be completed by the corresponding date set out in such plan;

  • Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.

  • Project Milestone means the project milestone set forth in Schedule-J;

  • Milestone Payment means a payment identified in the Implementation Plan to be made following the issue of a Satisfaction Certificate in respect of Achievement of the relevant Milestone;

  • Initial Payment means the dollar amount specified as the “Initial Payment” in the applicable Purchase Agreement.

  • Milestone Date means the date set against the relevant Milestone in the Implementation Plan;

  • Milestone Events has the meaning set forth in Section 3.3 (Milestone Payments).

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

  • Milestone 2 means achievement of annual Net Sales of at least $35,000,000 during any Calendar Year ending on or before December 31, 2024.

  • Milestone 1 means achievement of annual Net Sales of at least $20,000,000 during the Calendar Year ending on December 31, 2021.

  • Initial Payment Date has the meaning specified in Section 3 of this Supplement.

  • Project Milestones means the project milestones set forth in Schedule-G;

  • Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.

  • Milestone Payments has the meaning set forth in Section 4.2.

  • Earnout Amount has the meaning set forth in Section 2.5.1b).

  • Closing Payment Amount will have the meaning set forth in Section 1.3(a).

  • Earnout Payment has the meaning set forth in Section 2.3(b).

  • Additional Accelerated Purchase Minimum Price Threshold means, with respect to an Additional Accelerated Purchase made pursuant to Section 2(c) hereof, any minimum per share price threshold set forth in the applicable Additional Accelerated Purchase Notice.

  • Milestones means control points in the project that help to chart progress. Milestones may correspond to the completion of a key deliverable, allowing the next phase of the work to begin. They may also be needed at intermediary points so that, if problems have arisen, corrective measures can be taken. A milestone may be a critical decision point in the project where, for example, the consortium must decide which of several technologies to adopt for further development.