Validation Payment definition
Validation Payment. As a result of the validation described above, pursuant to Section 3.2(c) of the McAllen Lease, Lessee will pay Lessor $13,486 within 30 days following execution hereof of which $53,838 is attributable to the validation of Base Rent and ($40,352) is attributable to the validation of Percentage Rent.
Validation Payment means (i) unless and until the Parent exercises the option set forth in §2(h)(iii) below, the number of shares of restricted Holdings Common Stock obtained by dividing (X) $1,428,570 (such amount being the “stipulated value” of such shares being issued as a Validation Payment) by (Y) the Applicable Price, and (ii) following the Parent’s exercise of the option set forth in §2(h)(iii) below, $1,428,570 in cash. The Buyer shall use commercially reasonable efforts to obtain such licensure and approval from the FDA and to request and obtain such QPP certification at the earliest permitted date. In no event shall the aggregate stipulated value of Holdings Common Stock issuable by Holdings and/or cash payable by the Buyer as Validation Payments under this §2(c)(ii) exceed $20,000,000 (inclusive of the $3,100,000 that the Buyer or Holdings, as the case may be, is/are entitled to retain as set forth above).
Validation Payment. As a result of the validation described above, pursuant to Section 3.2(c) of the CREZ Lease, Lessor will pay Lessee $7,586 within 30 days following execution hereof of which $11,042 is attributable to the validation of Base Rent and ($3,456) is attributable to the validation of Percentage Rent.
Examples of Validation Payment in a sentence
This contract also includes one optional year for continued services for the evaluation and maintenance of the Concept Validation Payment.
If payment is not made within forty-five (45) days from the date of receipt of the invoice, Company may offset such amounts against the then current Milestone Payment and/or Validation Payment due pursuant to the Asset Purchase Agreement.
More Definitions of Validation Payment
Validation Payment. As a result of the validation described above, pursuant to Section 3.2(c) of the ERCOT TransmissionLease, Lessor will pay Lessee $151,923.00 promptly following execution hereof.
Validation Payment. As a result of the validation described above, pursuant to Section 3.2(c) of the CREZ Lease, Lessor will pay Lessee $404,208.00 promptly following execution hereof.