Milestone definition
Examples of Milestone in a sentence
To the extent that (x) the Company obtains one or more written commitments for the Sales Milestone Payment pursuant to this Section 2.1(c) (whether by an Additional Sales Milestone Investor and/or via exercise of the Sales Milestone Payment Option by an Initial Investor) and (y) the Sales Milestone Event occurs, then the Company shall notify the Investors in writing of the occurrence of the Sales Milestone Event within five Business Days of the occurrence thereof.
The Company expressly waives (to the fullest extent it may lawfully do so) the provisions of any present or future applicable law that prohibits or may prohibit the collection of the True Up Payments, the Event of Default Fee, the Pre-Regulatory Milestone Change of Control Price or the Post-Regulatory Milestone Change of Control Price by the Investors.
Within two Business Days of the effectiveness of the commitments for a Sales Milestone Payment pursuant to this Section 2.1(c), the Company shall provide a written notice to all Investors identifying each Investor committing to a portion of the Sales Milestone Payment and each such Investor’s portion (in U.S. dollars) of the Sales Milestone Payment (the “Sales Milestone Amount Notice”).
The Company’s obligations to pay the True Up Payments, the Event of Default Fee, the Pre-Regulatory Milestone Change of Control Price and the Post-Regulatory Milestone Change of Control Price as they become due under this Agreement shall be absolute.
If the Regulatory Milestone (EE) Event does not occur on or before March 31, 2024, then no Investor shall be required to pay any amounts pursuant to this Section 2.1(b).