Product Sales Milestone #1 definition

Product Sales Milestone #1 means the first calendar month prior to the Termination Date in which the aggregate Product Sales during the consecutive twelve (12) month period ending on the last day of such calendar month equals or exceeds a total of forty million dollars ($40,000,000).
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Product Sales Milestone #1 means the first instance in which the sum of (x) the aggregate Major Market Product Sales for each Qualifying Major Market plus (y) the aggregate Product Sales achieved in all countries that are not Qualifying Major Markets during the four (4)-calendar quarter period that begins on the first anniversary of Product Launch equals or exceeds a total of four hundred million dollars ($400,000,000).
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Examples of Product Sales Milestone #1 in a sentence

  • Sales in subsequent periods are not used to calculate Product Sales Milestone #1.

  • On July 5, 2016 Sanofi disclosed that, based upon actual sales of Lemtrada® in Qualifying Major Markets and in other markets during the respective applicable periods since the Product Launch, Product Sales Milestone #1 has not been met.

  • On October 29, 2015, Sanofi disclosed that, based on actual sales trends to date, Sanofi does notexpect that Product Sales Milestone #1 will be met.

  • For example, while the total payment under the CVR to Genzyme shareholders if Product Sales Milestone #1 were reached would be $2.00, discounting that future cash flow (estimated to be achieved in the third quarter of 2013) by 8.5% and then multiplying by the probability of 80% that the milestone would be achieved, purportedly results in an “illustrative midpoint probability-adjusted intrinsic value” of $1.28.

  • Product Sales Milestone #1: CVR holders are entitled to receive $2 per CVR in the event net sales for Lemtrada total $400 million or more on a global basis during specified periods following product launch.

  • Appellants’ contention that Professor Laycock’s approval of a much broader bill somehow supports their attack on a narrower spending enactment is puzzling.

  • Based upon actual sales of Lemtrada® in Qualifying Major Markets and in other markets during the respective applicable periods since the Product Launch, Product Sales Milestone #1 was not met.

  • A payment of $4.00 per CVR will be made if sales in any period of four consecutive calendar quarters during the term of the CVR Agreement equal or exceed $2,300,000,000 (excluding any quarter in which sales were used to determine whether Product Sales Milestone #1 or #2 was achieved).• Product Sales Milestone #4.

  • As Sanofi’s CEO, Christopher Viehbacher, stated in an investor call on October 28, 2014, “if the FDA does not approve a product straight away, even if you get it approved elsewhere, there is still a ‘waiting to see what the FDA does’.” Sanofi’s failure to use Diligent Efforts to achieve the Approval Sales Milestone has led Sanofi to miss the Product Sales Milestone #1, and continues to adversely affect Sanofi’s ability to meet each of the other Product Sales Milestones.

  • Had Sanofi and Genzyme used efforts and employed the resources normally used by companies in the pharmaceutical business to commercialize and promote Lemtrada, including but not limited to making appropriate expenditures to commercialize and promote Lemtrada, the Product Sales for Lemtrada would have been significantly higher, and Product Sales Milestone #1 would have been met as early as the second quarter of 2015, and no later than the third quarter of 2015.

Related to Product Sales Milestone #1

  • Sales Milestone Payment is defined in Section 5.3.

  • 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 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 means an event or task described in the Implementation Plan which, if applicable, must be completed by the relevant Milestone Date;

  • Development Milestone Event has the meaning set forth in Section 7.1.

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

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

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

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

  • 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.

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

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

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

  • 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.

  • Net Sales Revenue shall have the meaning as set out in Schedule "A"

  • KPI Target means the acceptable performance level for a KPI as set out in each KPI;

  • New Product means the Synology-branded hardware product and Synology-branded accessories contained in the original packaging Customer bought from an authorized Synology distributor or reseller. You may see our “New Product” at Product Support Status.

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • Milestone Schedule means Seller’s milestone schedule, the form of which is attached to this Agreement as Exhibit Q.

  • Net Sales means [***].

  • Sublicense Revenue means [***].

  • Sales Revenue means receipts from the sale, lease, or rental of goods, services, or property;

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.