Payment Triggering Event definition

Payment Triggering Event is defined in Section 2.1(b).
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Payment Triggering Event means the first to occur of (1) a Qualified Financing that does not result in the issuance of any equity awards pursuant to Section 3(a)(iii), and (2) the date of a Change of Control pursuant to Section 6(d) of this Agreement. “Qualified Financing” means any transaction or series of related transactions involving the issuance of equity securities (including any securities that are convertible into or exercisable for equity securities) resulting in gross cash proceeds of $10,000,000 or more.
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Payment Triggering Event means the actual receipt by the Rights Agent or the Company following the Record Date of: (i) any cash payment pursuant to a Disposition Agreement, (ii) Net Cash (as defined in the Business Combination Agreement) over $1,000,000 immediately following the Closing Date, (iii) any cash received by the Company under the Asset Purchase Agreement (net of indemnity claims, if any), and (iv) the excess, if any, by which the Interim Operating Amount exceeds the Incurred Fees under Section 4.4(c).
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Examples of Payment Triggering Event in a sentence

  • Any continuation of benefits portion of the Change of Control Payment commences upon the Payment Triggering Event and extends for the time period defined under the Change of Control Payment.

  • Any cash portion of the Change of Control Payment payable under this Agreement is payable in a lump sum in cash, of which one-half is payable within thirty (30) days following the Payment Triggering Event and the balance is payable upon the earlier of six (6) months following the Payment Triggering Event or the death of the Employee.

  • Unless approved by the Special Committee, the Company shall not grant any lien, security interest, pledge or similar interest in: (x) any Payment Amounts or proceeds from any Disposition or other Payment Triggering Event during the Term, or (y) any Legacy Assets during the Disposition Period.

  • Any cash portion of the Change of Control Payment payable under this Agreement is payable in a lump sum in cash, of which one-half is payable within thirty (30) days following the Payment Triggering Event and the balance is payable upon the earlier of nine (9) months following the Payment Triggering Event or the death of the Employee.

  • Therefore, if Lilly has not made a particular payment under Section 6.6(a) as to a discontinued Development Compound, Lilly shall be required to make such payment, subject to occurrence of the related Payment Triggering Event, as to the substitute Development Compound.

  • Kaival Labs shall commence paying NGL the Royalty on a quarterly basis following the Additional Payment Triggering Event.

  • Full Payment Triggering Event has the meaning assigned to such term in section 7.11.1 hereof.

  • Any cash portion of the Change of Control Payment payable under this Agreement is payable in a lump sum in cash, of which one-half is payable within thirty (30) days following the Payment Triggering Event and the balance is payable upon the earlier of twelve (12) months following the Payment Triggering Event or the death of the Employee.

  • All Reimbursement Payments payable by Lilly to ICAgen hereunder shall be made within thirty (30) business days following achievement of the Payment Triggering Event as set forth in Section 6.6(a).

  • Each Termination Payment shall be deemed earned in full immediately and automatically upon such Lender executing this Agreement, and shall be paid in cash immediately upon the occurrence of any Termination Payment Triggering Event.


More Definitions of Payment Triggering Event

Payment Triggering Event means the events identified in Section 6.6. For purposes of this definition, the term “[**]” in Section 6.6 means [**] as defined [**].
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Payment Triggering Event means the achievement of any Milestone.
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Payment Triggering Event means any of the Termination of Employment, death or Disability of a Participant.
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Payment Triggering Event means the actual receipt by the Company or one or more of the Company’s Affiliates following the Record Date of any cash payment made by Celgene pursuant to the TIGIT License Agreement and in respect of any and all of the following: (i) each of the applicable milestone events set forth in Paragraph 2 (Approval Milestones) and Paragraph 3 (Sales Milestones) of Exhibit C-3 of the TIGIT License Agreement or (ii) royalty obligations set forth in Paragraph 4 (Royalties for Licensed Products (and not Diagnostic Products)) or Paragraph 5 (Royalties for Diagnostic Products) of Exhibit C-3 of the TIGIT License Agreement; provided, however, that in no event shall the receipt by the Company or one or more of its Affiliates of (a) the upfront fee payable by Celgene upon the exercise of the Celgene Option pursuant to Paragraph 1 (Upfront Fee) of Exhibit C-3 of the TIGIT License Agreement, (b) any payment in respect of Milestone (1) as defined in Xxxxxxxxx 0 (Xxxxxxxx Xxxxxxxxxx) of Exhibit C-3 of the TIGIT License Agreement, or (c) any reimbursement of costs or expenses, research and development funding, defense costs or other amounts paid other than pursuant to the financial terms identified in clauses (i) and (ii) of this definition, constitute a Payment Triggering Event.
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Related to Payment Triggering Event

  • Subsequent Triggering Event means either of the following events or transactions occurring after the date hereof:

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.

  • Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Voting Rights Triggering Event means the failure of the Company to pay dividends on the Preferred Stock with respect to six or more quarterly periods (whether or not consecutive).

  • Initial Triggering Event means any of the following events or transactions occurring after the date hereof:

  • Triggering Events means each of the following events:

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Covenant Trigger Event shall occur at any time that Availability is less than the greater of (a) $12.5 million and (b) 10% of the Line Cap then in effect. Once commenced, a Covenant Trigger Event shall be deemed to be continuing until such time as Availability equals or exceeds the greater of (i) $12.5 million and (ii) 10% of the Line Cap then in effect for 30 consecutive days.

  • Flip-In Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Change of Control means the occurrence of any of the following:

  • Rating Event means the rating on the Notes is lowered by each of the Rating Agencies and the Notes are rated below an Investment Grade Rating by each of the Rating Agencies on any day within the 60-day period (which 60-day period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of the Rating Agencies) after the earlier of (a) the occurrence of a Change of Control and (b) public notice of the occurrence of a Change of Control or the Company’s intention to effect a Change of Control; provided that a Rating Event will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be deemed a Rating Event for purposes of the definition of Change of Control Triggering Event) if each Rating Agency making the reduction in rating does not publicly announce or confirm or inform the Trustee in writing at the request of the Company that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

  • Shared Loss Payment Trigger means when the sum of the Cumulative Loss Amount under this Single Family Shared-Loss Agreement and the Shared-Loss Amount under the Commercial and Other Assets Shared-Loss Agreement, exceeds the First Loss Tranche. If the First Loss Tranche is zero or a negative number, the Shared Loss Payment Trigger shall be deemed to have been reached upon Bank Closing.

  • Notice Event means any of the events enumerated in paragraph (b)(5)(i)(C) of the Rule and listed in Section 4(a) of this Disclosure Agreement.

  • Control Termination Event shall have the meaning given to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Prepayment Distribution Trigger With respect to any Distribution Date and any Class of Subordinate Certificates (other than the Class M-1 Certificates), a test that shall be satisfied if the fraction (expressed as a percentage) equal to the sum of the Certificate Principal Balances of such Class and each Class of Subordinate Certificates with a Lower Priority than such Class immediately prior to such Distribution Date divided by the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) immediately prior to such Distribution Date is greater than or equal to the sum of the related Initial Subordinate Class Percentages of such Classes of Subordinate Certificates.

  • Terminating Event means any of the following events:

  • Company Termination Event means any of the following:

  • Change of Control Put Period means the period of 45 days after a Change of Control Put Event Notice is given;

  • Early Termination Event has the meaning specified in Section 9.2.

  • Carve-Out Trigger Notice means a written notice delivered by the Administrative Agent or the Required Lenders (which delivery may be made by any electronic method of transmission) to the Borrower and its counsel, the United States Trustee, and lead counsel to any Committee, which notice may be delivered following the occurrence and continuance of an Event of Default, and stating that the Post-Carve-Out Trigger Notice Cap has been invoked.

  • ii) Event means any event described in Section 11(a)(ii) hereof.