Milestone Discount Factor definition
Milestone Discount Factor means a percentage determined by the Acquiror and the Company prior to the Closing and based on an analysis performed by an independent third-party valuation firm mutually agreed by Acquiror and the Company, which percentage when multiplied by the Milestone Payment payable in respect of each share of Company Common Stock equals the present value of the Milestone Payment payable in respect of each share of Company Common Stock as of the Closing Date.