Term B Milestones definition

Term B Milestones means the delivery by Borrower to Collateral Agent and the Lenders of evidence, in form and content acceptable to Collateral Agent and Lenders, of Borrower, prior to September 30, 2022, (i) achieving positive Phase 2a Open-Label Histology Data, and (ii) having entered into an executed and effective agreement for the in-licensing of an asset approved by Borrower’s board of directors.
Term B Milestones means (i) the delivery by Borrower to Collateral Agent and the Lenders of evidence, in form and content acceptable to Collateral Agent and Lenders, of Borrower, prior to March 31, 2021, achieving positive Phase 1b/2a NASH data sufficient to initiate a Phase 2b trial and(ii) the funding of the Term A Loans in the full amount of the Term Loan Commitment for the Term A Loans.
Term B Milestones means the Borrower (i) achieving pro forma funded debt (including funded Subordinated Debt and funded RLOC) to Parent’s market capitalization (determined based on Parent’s volume weighted average stock price for the immediately preceding ten trading days) ratio of less than twenty five percent (25.00%), including, on the Funding Date of the Term B Loan after taking into account the proceeds of the Term B Loan, (ii) receiving the final approval to market and sell from the FDA for Borrower’s product I.V. Triferic (intravenous formulation of Triferic) and (iii) receiving an unqualified auditor’s opinion with respect to Borrower’s audited financial statements for the 2019 fiscal year, or if any material weakness is identified in such auditor’s opinion, remedying such weakness prior to funding of the Term B Loan and prior to the audited financial statements for the 2020 fiscal year becoming due or delivered to Collateral Agent pursuant to the terms hereof.

Examples of Term B Milestones in a sentence

  • September 30, 2021, (ii) sixty (60) days after achieving the Term B Milestones, and (iii) the occurrence of an Event of Default; provided, however, that the Second Draw Period shall not commence if on the date of the occurrence of the Term B Milestones an Event of Default has occurred and is continuing.


More Definitions of Term B Milestones

Term B Milestones means the delivery by Borrower to Collateral Agent and the Lenders of evidence, in form and content acceptable to Collateral Agent and Lenders, of Borrower, prior to September 30, 2022, (i) achieving positive Phase 2a Open-Label Histology Data, and
Term B Milestones means Borrower has achieved (1) positive final data from the lonafarnib Phase 2 LOWR-HDV-2,3,4 trials in hepatitis delta virus (“HDV”), achievement of which hereby is acknowledged by Collateral Agent, and (2) positive data from at least one of the following programs (i) pegylated interferon lambda 1a (“PEG-IFN Lambda”) LXXX-XXX Xxxxx 0 trial in HDV, (ii) Exendin Phase 2 trial in post-bariatric surgery associated hypoglycemia under Eider’s own IND, (iii) ubenimex LIBERTY Phase 2 trial in pulmonary arterial hypertension (“PAH”), or (iv) ubenimex ULTRA Phase 2 trial in lymphedema; in each case, provided that Borrower has provided to Collateral Agent written evidence of the same, in form and content acceptable to Collateral Agent in its sole discretion.

Related to Term B Milestones

  • 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.

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

  • 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;

  • Development Milestone Payment shall have the meaning set forth in Section 9.2(a).

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

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

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

  • Sales Milestone Payment is defined in Section 5.3.

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

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

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

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

  • EBITDA Target means the Company's projected earnings before interest, taxes, one-time transition expenses, non-cash compensation expense charges, depreciation and amortization, as contained in the Company's budget for the Applicable Period and which is approved by the Board (without reference to any adjustments or revision, upwards or downwards, to such projected earnings which are subsequently approved by the Board as part of any subsequent revision to such budget), and (ii) the term "Financial Results" shall mean the Company's EBITDA calculated by reference to the Company's financial statements for the Applicable Period as filed with the Securities and Exchange Commission (the "SEC").

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

  • Incremental Amount means, at any time, the excess, if any, of (a) $200.0 million over (b) the aggregate amount of all Incremental Term Loan Commitments and Incremental Revolving Facility Commitments established prior to such time pursuant to Section 2.21.

  • 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;

  • Total Initial Term Loan Commitment means the sum of the Initial Term Loan Commitments of all Lenders.

  • Incremental Term Commitments has the meaning set forth in Section 2.14(a).

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

  • Incremental Term A Loans has the meaning specified in Section 2.14(a).

  • Incremental Term Commitment means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant an Incremental Facility Agreement and Section 2.21, to make Incremental Term Loans of any Series hereunder, expressed as an amount representing the maximum principal amount of the Incremental Term Loans of such Series to be made by such Lender.

  • Tranche B Term Commitment as to any Tranche B Term Lender, the obligation of such Tranche B Term Lender to make an Initial Tranche B Term Loan to the Borrower in the principal amount set forth under the heading “Tranche B Term Commitment” opposite such Tranche B Term Lender’s name on Schedule 2.1 to this Agreement. The aggregate principal amount of the Tranche B Term Commitments as of the Closing Date is $1,025,000,000.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Additional Term Loan Commitment means any term commitment added pursuant to Sections 2.22, 2.23 or 9.02(c)(i).