Product Sales Milestone Payment Date definition

Product Sales Milestone Payment Date means, with respect to each Product Sales Milestone, the date that is twenty (20) Business Days following notice of the achievement of such Product Sales Milestone in the applicable Product Sales Statement.
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Product Sales Milestone Payment Date means, with respect to each Product Sales Milestone, the date that is twenty (20) Business Days following notice of the achievement of such Product Sales Milestone in the applicable Product Sales Statement; provided, however, (a) if Product Sales Milestone #1 is achieved during a consecutive twelve (12) month period that ends on the last day of a calendar month that is prior to [ ][date that is 24 months post-closing to be inserted], then the Product Sales Milestone Payment Date for Product Sales Milestone #1 shall be on the later of (i) or (ii) twenty (20) Business Days following notice of the achievement of Product Sales Milestone #1, and (b) if Product Sales Milestone #2 is achieved during a consecutive twelve (12) month period that ends on the last day of a calendar month that is prior to [ ][date that is 36 months post-closing to be inserted], then the Product Sales Milestone Payment Date for Product Sales Milestone #2 shall be the later of (i) or (ii) twenty (20) Business Days following notice of the achievement of Product Sales Milestone #2.
Sample 1Sample 2
Product Sales Milestone Payment Date means, with respect to each Product Sales Milestone, the date that is twenty (20) Business Days following notice of the achievement of such Product Sales Milestone in the applicable Product Sales Statement; provided, however, (a) if Product Sales Milestone #1 is achieved during a consecutive twelve (12) month period that ends on the last day of a calendar month that is prior to March 1, 2015, then the Product Sales Milestone Payment Date for Product Sales Milestone #1 shall be on the later of (i) March 1, 2015 or (ii) twenty (20) Business Days following notice of the achievement of Product Sales Milestone #1, and (b) if Product Sales Milestone #2 is achieved during a consecutive twelve (12) month period that ends on the last day of a calendar month that is prior to March 1, 2016, then the Product Sales Milestone Payment Date for Product Sales Milestone #2 shall be the later of (i) March 1, 2016 or (ii) twenty (20) Business Days following notice of the achievement of Product Sales Milestone #2.
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Related to Product Sales Milestone Payment Date

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

  • Sales Milestone Payment is defined in Section 5.3.

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

  • Milestone Payments has the meaning set forth in Section 4.2.

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

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

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

  • 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 1 means achievement of annual Net Sales of at least $20,000,000 during the Calendar Year ending on December 31, 2021.

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

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

  • 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.

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

  • Milestone Dates means the dates for completion of specified Project activities as contained in the Project Schedule.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

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

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

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

  • Contract Quarter means a three-month period that commences on January 1, April 1, July 1, or October 1 and ends on March 31, June 30, September 30, or December 31, respectively.

  • Sublicense Revenue means [***].

  • Net Sales means [***].

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

  • Sublicense Revenues means [***].

  • Shipment Date means the date for shipment of Product requested by Buyer in a Purchase Order.