Production Milestone definition

Production Milestone means achievement of both of the following, at any time during the period starting on January 1, 2011 and ending on December 31, 2011 (and including, for the avoidance of doubt, for the time period on or after January 1, 2011 but prior to the consummation of the Merger, any production by Genzyme):
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Production Milestone means the Company (or its wholly-owned subsidiary) has produced 250 grams of Mo-100 commercial product. Annual adjustments after the first year of the Employment Period shall be determined by the Board; provided, however, that the Base Salary may not be decreased. The Base Salary shall be paid in periodic installments in accordance with the Company’s regular payroll practices. Executive shall, subject to policies and procedures of the Parent’s Board of Directors, be eligible to additional fees for service on the Board.
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Production Milestone has the meaning set forth in Section 12.2(a).
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Examples of Production Milestone in a sentence

  • The Company shall use Diligent Efforts to achieve the Approval Milestone and the Product Sales Milestones, and shall use commercially reasonable efforts to achieve the Production Milestone on a timely basis.

  • Notwithstanding the foregoing, in no event shall the Company be required to pay the Production Milestone Payment more than once.

  • The cashflow for the Programme shall be as set out below: Production Milestone to be reached for Payment Licence Fee % Anticipated Payment Date (for info only) Special Conditions of Payment [NB Production Report requirements to be assessed on each project – min of 2 stages but potentially more dependent on project.] Deductions Amount (£s) Payable (ie Licence Fee % [less or prior to] any deductions) Receipt of Signed Agreement Percentages in accordance with the Business Framework or as otherwise agreed.

  • The Company may assign this CVR Agreement without the prior written consent of the other Parties to this CVR Agreement to one or more of its direct or indirect Subsidiaries, provided, however, that in the event of any such assignment the Company shall remain subject to its obligations and covenants hereunder, including, but not limited to, its obligation to make any Product Sales Milestone Payments, the Approval Milestone Payment and the Production Milestone Payment.

  • If ADI misses the Production Milestone Due Date (as defined in Schedule 3, infra) by more than three (3) months, then for each month or partial month by which ADI misses the Production Milestone Due Date, in addition to any penalties outlined in Schedule 3, Masimo shall be entitled to modify the annual volume commitments […***…].

  • If Masimo does not place an order for delivery until after the Production Milestone Due Date, then ADI shall be deemed to have timely met the Production milestone if it delivers in accordance with the delivery commitments established by Masimo’s initial order.

  • The First Minimum Production Milestone shall have the meaning ascribed to such term in the Securities Purchase Agreement.

  • In addition, if on the Maximum FGI Date, the RDRAM device finished goods inventory of the Company and its subsidiaries exceeds the Maximum FGI, the Second Minimum Production Milestone will be modified, as appropriate.

  • This JV Agreement and the JVCO may be terminated by any Party, upon the delivery of a written notice to the other Parties, in accordance with Section 13.3, (i) in the event that any of the Initial Milestones are not successfully met in the timeframes provided therein; (ii) in the event that the Initial Production Milestone is not successfully met in the timeframe provided in the Initial Business Plan; or (iii) in the event of a Force Majeure Event, in accordance with Section 13.1.

  • The First Production Milestone Date shall ------------------------------- have the meaning ascribed to such term in the Securities Purchase Agreement.