Revenue Milestone definition

Revenue Milestone means the Obligors achieve Revenue from the sale of the Product of at least $100,000,000 during the consecutive twelve (12) month period ending on December 31, 2019; provided that (a) Borrower shall have delivered to Administrative Agent a notice certifying satisfaction of the Revenue Milestone no later than the earlier of (i) 75 days thereafter and (ii) the date on which Borrower announces its earnings publicly, (b) Borrower shall have delivered all information reasonably required by Administrative Agent with respect thereto and (c) Administrative Agent shall have been reasonably satisfied with the results of a review of the Revenue Milestone by examining such information, the Obligors’ books and records and any other information reasonably related thereto.

Revenue Milestone means Borrower’s delivery of evidence to Bank, satisfactory to Bank in its reasonable discretion, that Borrower has achieved revenues (measured in accordance with GAAP) for Borrower’s fiscal year ending December 31, 2021 (the “2021 fiscal year”) of at least eighty percent (80%) of Borrower’s projected revenues (measured in accordance with GAAP) for Borrower’s 2021 fiscal year as set forth in Borrower’s board of directors approved annual financial projections for the 2021 fiscal year.

Revenue Milestone has the meaning set forth in Section 3.2(d).

Examples of Revenue Milestone in a sentence

• Venom Extracts Achieves Second and Final Revenue Milestone On December 10, 2020, the Company announced that Venom Extracts reached its second and final milestone by generating in excess of $40 million revenue calculated from January 1, 2020.

• Subject to Section 3.02(d), Borrower agrees to pay to the Lenders interest on the unpaid principal amount of the Loans, for the period from the applicable Borrowing Date until paid in full, at a rate per annum equal to 12.25%; provided that, upon achievement of the Revenue Milestone and so long as no Default or Event of Default has occurred and is continuing, commencing with the first month thereafter, Borrower agrees to pay such interest at a rate per annum equal to 11.50%.

• The Independent Accountant shall disclose to the Acting Holders only whether the Net Revenue Milestone Payment was due and such additional information directly related to its findings.

• Such annual bonuses shall be measured and include but not limited to the following metrics: Acquisition Milestone - $40,000 per completed acquisition payable the following quarter after the completion of the acquisition, Revenue Milestone - $40,000 for achieved annual revenue growth plan, Net Income Milestone - $60,000 for achieved annual net income growth plan.

• In the event the Company fails to achieve the Annual Revenue Milestone for any following twelve (12) month period thereafter, the Base Salary shall be correspondingly reduced to $180,000 per annum.

More Definitions of Revenue Milestone

Revenue Milestone means Borrower’s delivery to Collateral Agent and the Lenders, after the Second Amendment Effective Date but prior to January 1, 2022, of evidence, in form and content acceptable to Collateral Agent and the Lenders, that Borrower has achieved consolidated revenue of commercial product sales and royalties from commercial product sales (excluding, however, any upfront or milestone payments from licensing agreements), measured in accordance with GAAP on a trailing six (6) month basis as of the last day of any fiscal month, of not less than Twenty-Four Million Dollars ($24,000,000.00).

Revenue Milestone means Parent achieving Revenue of at least £17,651,700 for Parent’s 2013 fiscal year.

Revenue Milestone means Borrower’s delivery to Bank of evidence, in form and substance satisfactory to Bank in its sole but reasonable discretion, that Borrower has generated revenue (determined in accordance with GAAP) with positive gross margins for any trailing three (3) month period after the Effective Date, in an aggregate amount of at least Six Million Dollars ($6,000,000).

Revenue Milestone is the achievement by Borrower of actual sales of at least 80% of projected sales, demonstrated to the reasonable satisfaction of Lender and measured against the projections attached hereto as Annex I; determined on a trailing 6-month basis as reported in the then most recently delivered Compliance Certificate.

Revenue Milestone means the satisfaction of each of the following events: (a) no Default or Event of Default shall have occurred and be continuing and (b) Borrower shall ny-2659060 have delivered evidence satisfactory to Agent (as determined by Agent in its sole discretion) that after the Closing Date and prior to July 31, 2026, Borrower has achieved at least Ninety-Five Million Dollars ($95,000,000) in T6M Net Product Revenue.

Revenue Milestone means the achievement by Borrower of least [**] Dollars ($[**]) in Revenue (determined in accordance with GAAP), measured on a trailing twelve (12) month basis for the twelve (12) month period ending May 31, 2016.

Revenue Milestone means the achievement of $9.0 million in Revenues of the Companies and Subsidiaries for the calendar year 2008. The Revenue Milestone shall be appropriately adjusted by the Buyer and the Sellers’ Representative (as defined in Section 10.16(a) hereof) in the event that the Companies and Subsidiaries, during calendar year 2008 and only in accordance with an affirmative management decision of the Buyer, make material changes to their businesses that have a negative impact on the ability of the Companies and the Subsidiaries to achieve the Revenue Milestone.