Milestone Two Amount means an amount equal to [...***...]; provided that in no event shall the Milestone Two Amount exceed the Maximum Milestone Two Amount.
Milestone Date means the date set against the relevant Milestone in the Implementation Plan;
Sales Milestone Payment is defined in Section 5.3.
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 Payment Date has the meaning set forth in Section 2.4(a).
Milestone means an event or task described in the Implementation Plan which, if applicable, must be completed by the relevant Milestone Date;
Milestone 1 means achievement of annual Net Sales of at least $20,000,000 during the Calendar Year ending on December 31, 2021.
Development Milestone Payment shall have the meaning set forth in Section 9.2(a).
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;
Milestone Event has the meaning set forth in Section 8.4.
Performance Milestone means an act or event specified in section 5.1 and described in section 9 of the EPLA.
Development Milestone Event has the meaning set forth in Section 7.1.
M1 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 70.00% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.
Earnout Amount has the meaning set forth in Section 2.7(a).
M5 Target Amount With respect to any Distribution Date an amount equal to the lesser of (a) the product of (i) 93.30% and (ii) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (1) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (2) the Overcollateralization Floor.
M3 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 85.50% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance.
Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.
M2 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 65.70% minus the Additional Required Enhancement Percentage and (ii) the Pool Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (ii) 0.50% of the Cut-off Date Balance.
Milestone Events has the meaning set forth in Section 3.3 (Milestone Payments).
EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").
M4 Target Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 95.30% and (ii) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (ii) 0.50% of the Cut-off Date Balance.
Milestone Failure means a failure by the Grant Recipient fully to achieve any Milestone by the relevant Milestone Date;
Earnout Payment has the meaning set forth in Section 2.3(b).
AHYDO Catch-Up Payment means any payment on any Indebtedness that would be necessary to avoid such Indebtedness being characterized as an “applicable high yield discount obligation” under Section 163(i) of the Code.
Earn-Out Amount has the meaning set forth in Section 2.07(a).
Earn-Out Payment has the meaning set forth in Section 2.5(a).
Project Milestone means the project milestone set forth in Schedule-J;