Win State Payment definition

Win State Payment means the positive difference, if any between (A) the amount set forth on Schedule B hereto opposite the Win State Payment Milestone with the greatest value achieved as of the Trigger Date, less (B) the sum of (x) all payments previously made to Company Stockholders on Win State Payment Dates pursuant to this Agreement and (y) any commissions or other payments that are payable pursuant to agreements entered into by or on behalf of TomegaVax prior to the date hereof. For the avoidance of doubt, in no event shall the aggregate Win State Payment payable pursuant to this Agreement exceed $30,000,000.
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Win State Payment means the positive difference, if any between (A) the amount set forth on Schedule B beneath the greatest Share Price Trigger value that the Share Price Trigger as of the Trigger Date meets or exceeds, less (B) all payments previously made to Company Stakeholders on Win State Payment Dates pursuant to this Agreement. For the avoidance of doubt, in no event shall the aggregate Win State Payment payable pursuant to this Agreement exceed $60,000,000.
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Examples of Win State Payment in a sentence

  • A Win State Payment shall only become due and payable if the Company is still pursuing the TomegaVax technology at the time such Win State Payment is due, as determined in good faith by the Board in its sole discretion.

  • A Win State Payment shall only become due and payable if the Company’s programs are under active development or being actively marketed at the time such Win State Payment is due.

  • Subject to Section 3 below, if the Share Price on any Trigger Date during the Win State Payment Period is equal to or greater than any Share Price Trigger then the Company shall notify the Stockholders within twenty (20) business days of the occurrence of such Trigger Date.

  • If the Share Price on such Trigger Date is equal to or greater than any of the values of the Share Price Trigger values, the Company shall be obligated to pay the applicable Win State Payment to the Stockholders.

  • Any Win State Payment due hereunder shall be payable on the Win State Payment Date with respect to such Win State Payment, in cash or cash equivalents or, in the sole discretion of the Company’s (or any successor thereto), in publicly tradable shares of common stock of the Company (or such successor).