Examples of Tranche 2 Milestone in a sentence
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The Tranche 2 Consideration will be payable upon an announcement by the Company of shipment(s) of a minimum of 50,000 tons of Kaolin Clay or derived product from the project held by Halcyon (Tranche 2 Milestone).
Beginning April 1, 2017 and continuing through December 31, 2017, subject to Borrower’s achievement of Tranche 2 Milestone and approval by Agent’s investment committee, such approval to be granted or withheld in its sole discretion, Borrower may request Tranche 2 Term Loan Advances in an aggregate amount up to $10,000,000 in minimum increments of $2,500,000.
The rights of the Investor under this Article 2 to appoint Investor Designated Directors to the Board shall terminate in the event that the Company terminates the Joint Development Agreement in accordance with the terms thereof prior to the achievement of the Tranche 2 Milestone (as defined in the Securities Purchase Agreement).
If Shares are issued on satisfaction of the Tranche 2 Milestone, 4,000,000 of the Tranche 2 Consideration will be subject to voluntary escrow for a period of 6 months.