Fourth Milestone Sample Clauses

Fourth Milestone. The Company is seeking financing opportunities. The Company needs to secure a minimum financing of $2,000,000 through one or a series of financing. Under this milestone, the financing is to be effected for cash, unless otherwise agreed by the Board of Directors. FIFTH MILESTONE The Company is seeking substantial financing opportunities. In addition to the previous $2,000,000 raised, the Company is to secure an additional financing of $3,000,000 for a total of $5,000,000 through one or a series of financing. Under this milestone, the financing is to be effected for cash, unless otherwise agreed by the Board of Directors. SIXTH MILESTONE The Company is pursuing strategic alliance negotiations. Those strategic alliance negotiations are intended to but not limited to provide near and long term revenues through licensing, milestone and royalty payments, thereby offsetting the risk associated with more medium term opportunities. Also, should be considered the intangible aspect of the agreement(s) in terms of increasing the corporate profile and validating the technology.
Sample 1
AutoNDA by SimpleDocs
Fourth Milestone. Substantial Completion Date. Landlord shall use commercially reasonable best efforts to achieve the Fourth Milestone no later than the Fourth Milestone Date.
Sample 1
Fourth Milestone. The fourth Milestone shall be deemed to have been attained if the Parent (including its subsidiaries) and the Surviving Company shall have attained (either alone or together) the "ACT Snap-in Architecture," which shall mean the designing of a PocketLogin extension (Snapin) that synchronizes and personalizes ACT data and settings, within three hundred sixty (360) days after the Closing Date (the "Fourth Milestone Termination Date" and, with the First Milestone Termination Date, Second Milestone Termination Date, and Third Milestone Termination Date, each, a "Milestone Termination Date").
Sample 1
Fourth Milestone. Upon commencement of commercial hydrocarbon production outside of the Oyo Field under the PSC, CEI may elect to retain the Contract Rights (with no additional milestones or consideration required thereafter following payment in full of the Fourth Milestone Consideration, as defined below) (the “Fourth Milestone Option,” and together with the First Milestone Option, the Second Milestone Option, and the Third Milestone Option, the “Milestone Options”) upon payment to Allied, at Allied’s option of (i) $25 million in Shares, or (ii) $25 million in cash through payment of up to 50% of CEI’s net cash flows received from non-Oyo Field production under the PSC (the “Fourth Milestone Consideration,” and together with the Closing Cash Consideration, First Milestone Consideration, Second Milestone Consideration, and Third Milestone Consideration, the “Consideration”). EXECUTION COPY Notwithstanding anything to the contrary herein, if, at any time that an opportunity for CEI to exercise a Milestone Option occurs, CEI elects not to exercise such Milestone Option, then all the Contract Rights will automatically revert back to CAMAC without any compensation due to CEI and with Allied retaining all Consideration paid by CEI to date. Notwithstanding the above, CEI shall not assign or transfer any of its interest in the PSC without first obtaining the consent of Allied and paying all remaining amounts that would have been due to Allied had CEI exercised all options set forth above. For purposes of the Agreement, the purchase price per Share shall be calculated as the 30 day weighted average closing sale price per share of CEI’s Common Stock, as quoted by NYSE Amex (or other national exchange that CEI may be listed upon at such time), measured back from the first business day prior to the occurrence of the applicable Milestone Option event. In the event that the PSC is terminated by any party after the Effective Date, Allied shall be obligated to fulfill the obligations of NAE under the PSC or secure a third party acceptable to CEI to do the same, and shall obtain such instruments, assignments, certificates, notices, statements, consents, agreements, deeds, papers and documents, as necessary to give CEI the same rights and obligations with respect to the Contract Rights as provided under these Heads of Agreement. The Parties agree that Section 8.8 and Article X of the PSA (as defined below) are incorporated by reference herein as if they were included herein.
Sample 1
Fourth Milestone. Within sixty (60) days after the end of the first calendar year in which the total of Net Sales in the CF Market in such calendar year exceeds Eighteen Million U.S. Dollars ($18,000,000), CRTX shall pay to DCIthe amount of Five Million and Five Hundred Thousand U.S. Dollars ($5,500,000) (The “Fourth Milestone”).
Sample 1
Fourth Milestone. Upon commencement of Hydrocarbon production in commercial quantities outside of the Oyo Field under the PSC, CEI shall retain the Contract Rights (with no additional milestones or consideration required thereafter following payment in full of the Fourth Milestone Consideration, as defined below) (the “Fourth Milestone,” and together with the First Milestone, the Second Milestone, and the Third Milestone, the “Milestones”), subject to the payment by CEI to Allied, at Allied’s option, of: (i) an additional USD $25,000,000 in Consideration Shares within fifteen (15) days after such commencement of production, or (ii) an additional USD $25,000,000 in cash through payment of 50% of CEI’s net cash flows received from non-Oyo Field production under the PSC within fifteen (15) days after receipt of such net cash flows from non-Oyo Field production under the PSC until the payments equal $25,000,000 in the aggregate (the “Fourth Milestone Consideration,” and together with the Closing Cash Consideration, First Milestone Consideration, Second Milestone Consideration, and Third Milestone Consideration, the “Consideration”).
Sample 1

Related to Fourth Milestone

  • Milestone Event Milestone Payment [***] [***]

  • Milestone An event associated with a specific date, for which a payment will be due, as set out in the Payment Schedule of any Project Agreement.

  • Development Milestones Subject to the terms and conditions of this Agreement, no later than [**] following the first occurrence of each event described below (each, a “Development Milestone”), on Product-by-Product basis Moderna shall pay Carisma the non-refundable and non-creditable amounts set forth below for each Product to achieve such event (each, a “Development Milestone Payment”): ​ Development MilestoneDevelopment Milestone Payment (in US$ millions) [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] [**] ​ Moderna shall provide written notice to Carisma of the achievement of each Development Milestone within [**] after such achievement. If a Development Milestone for a Product is achieved without the preceding Development Milestone(s) having been achieved for such Product, then the Development Milestone Payment for such preceding Development Milestone(s) shall be paid by Moderna to Carisma together with ​ ​ the Development Milestone Payment for the Development Milestone that was achieved. For example, if the [**] Development Milestone [**] in the table above is achieved for a Product but the [**] Development Milestone [**] in the table above had not been achieved for such Product, then Moderna would pay the Development Milestone Payment for both such [**] Development Milestone and [**] Development Milestone upon achievement of the [**] Development Milestone. Each of the Development Milestone Payments set forth above shall be payable one time only per Product. If Moderna or its Affiliates or Sublicensees Develops a Product that has achieved at least one Development Milestone and subsequently discontinues Development of such Product and Develops a different Product incorporating or directed to the same combination of Collaboration Targets (whether one Collaboration Target or multiple Collaboration Targets), then Moderna shall be required to pay Development Milestone Payments for such different Product only for Development Milestones that had not been achieved by such discontinued Product.

  • Sales Milestones As to each of the sales milestone events set forth below, GSK shall pay EPIZYME the non-refundable, non-creditable sales milestone payments indicated below upon the first achievement by GSK, its Affiliates or Sublicensees of the success milestone events set forth below with respect to each Selected Target, on a Selected Target-by-Selected Target basis. Sales Milestone Event (For Licensed Products directed to a Selected Target) Milestone Payment (in $ [**]) First Calendar Year in which aggregate world-wide Net Sales of Licensed Product(s) directed to such Selected Target are greater than or equal to $[**] [** ] First Calendar Year in which aggregate world-wide Net Sales of Licensed Product(s) directed to such Selected Target are greater than or equal to $[**] [** ] First Calendar Year in which aggregate world-wide Net Sales of Licensed Product(s) directed to such Selected Target are greater than or equal to $[**] [** ] Upon achievement by or on behalf of GSK, its Affiliates or Sublicensees of a sales milestone event set forth in this Section 6.7, GSK shall promptly (but in no event later than the date on which the royalty report for the Calendar Quarter in which such achievement occurs is due pursuant to Section 6.10.1) notify EPIZYME of such achievement, and GSK shall pay EPIZYME the corresponding sales milestone payment within [**] days after receipt of an invoice for the milestone payment from EPIZYME. Such invoice shall be sent to GSK’s Alliance Manager and [**] with a copy to [**] (or such other email address(es) as may be notified to EPIZYME by GSK). For the avoidance of doubt, more than one of the foregoing sales milestone payments may be earned and become payable with respect to Licensed Products directed to any given Selected Target in the same Calendar Year based on aggregate world-wide Net Sales of Licensed Product(s) directed to such Selected Target during such Calendar Year.

  • Development Milestone Payments In partial consideration for the rights and licenses granted to Coya hereunder, within ten days after the first achievement of each milestone event in a given Indication set forth in this Section 5.2 (Development Milestone Payments) with respect to a Product (each, a “Development Milestone Event”) by or on behalf of Coya or any of its Affiliates or Sublicensees, Coya shall provide ARScience Bio written notice to ARScience Bio identifying the Development Milestone Event achieved. Upon receipt of any such notice of first achievement of a Development Milestone Event by Coya or its Affiliates or Sublicensees, ARScience Bio will promptly invoice Coya for the applicable Development Milestone Event and Coya will make a milestone payment to ARScience Bio in the amount set forth in this Section 5.2 (Development Milestone Payments) corresponding to such Development Milestone Event (each, a “Development Milestone Payment”) within 45 days of receipt of such invoice. On an Indication-by-Indication basis, each Development Milestone Payment shall be payable only upon the first achievement of the corresponding Development Milestone Event by a Product, in any given Indication for which the Development Milestone Events have not been previously achieved (each such Indication, a “New Indication”). No amounts shall be due for subsequent or repeated achievements of such Development Milestone Event with respect to the same or different Mono Product or Combination Product, as applicable, in such Indication. Accordingly and for clarity, the Development Milestone Payment shall be paid only once, when first achieved by Coya, an Affiliate or a Sublicensee, but no payment shall be due if the same milestone is subsequently achieved by one of Coya, an Affiliate or a Sublicensee. For clarity, the amounts owed in Column (a) below shall be due for the first Combination Product to achieve the Development Milestone Events in a New Indication and the amounts owned in Column (c) below shall be due for the first Mono Product to achieve the Development Milestone Events in a New Indication. Any Combination Product or Mono Product to achieve the Development Milestone Events in a New Indication after the first achievement of the Development Milestone Events as described in the foregoing sentence will cause the amounts in Column (b) with respect to a Combination Product and Column (d) with respect to a Mono Product to be due and payable by Coya upon each such occurrence. If the first Product to achieve a Development Milestone Event in any Indication is a Combination Product, the amounts in Column (a) below shall be due and payable by Coya. If the next Product to achieve a Development Milestone Event in a New Indication is a Mono Product, the amounts in Column (c) below would be due and payable by Coya; provided, that if such next Product to achieve a Development Milestone Event in a New Indication is a Combination Product, the amounts in Column (b) would be due and payable by Coya. By way of example, if a Combination Product achieves IND Acceptance in ALS, and is the first Product to achieve a Development Milestone Event under this Agreement, [***] will be due and payable by Coya. If subsequently a Mono Product achieves IND Acceptance in ALS, no Development Milestone Payments will be due and payable by Coya under this Agreement. However, if subsequently any Combination Product achieves IND Acceptance in Alzheimer’s disease, [***] would be due and payable by Coya.

  • Commercial Milestones In partial consideration of the rights granted by AstraZeneca to Licensee hereunder, Licensee shall pay to AstraZeneca the following payments, which shall be non-refundable, non-creditable and fully earned upon the first achievement of the applicable milestone event:

  • Commercial Milestone Payments Green Cross shall pay to MacroGenics the Net Sales milestone payments set forth below, which shall be due and payable within *** after the end of the first Calendar Year during which such milestone is triggered.

  • Sales Milestone Payments Licensee shall notify MTI of any Calendar Year in which annual Net Sales of a Licensed Product in such Calendar Year in all countries in the Territory reach the following thresholds for the first time within [***] days after the end of such Calendar Year, and shall make the following sales milestone payments to MTI within [***] days after receiving an invoice from MTI therefor: Annual Net Sales Threshold Sales Milestone Payment [***] [***] [***] [***] [***] [***] Each sales milestone payment is separate and may only be earned once for each Licensed Product, irrespective of the number of times such thresholds are achieved for such Licensed Product, but if more than one Net Sales threshold is reached in the same Calendar Year, all corresponding sales milestone payments shall be payable during such Calendar Year. For example, if annual Net Sales of a Licensed Product first reach [***] dollars [***] in Calendar Year 1, [***] dollars [***] shall be payable to MTI for such Calendar Year 1, however, if annual Net Sales of a Licensed Product first reach [***] dollars ($500,000,000) in Calendar Year 2 [***] Portions of this exhibit have been redacted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Commission. (without first reaching [***] dollars [***] in Calendar Year 1), then both the [***] dollars [***] and the [***] dollars [***] sales milestone payments would be payable to MTI for such Calendar Year 2. Net Sales of the Co-Exploited Product in the United States, which are subject to profit and loss sharing pursuant to the Co-Exploitation Terms, shall be excluded from the annual Net Sales of such Co-Exploited Product for purposes of this Section 7.10.

  • Milestone Fees Licensee will pay Milestone Fees indicated in Section 3.1(b) of the Patent & Technology License Agreement by the Quarterly Payment Deadline for the Contract Quarter in which the milestone events set forth in Section 3.1(b) of the Patent & Technology License Agreement are achieved.

  • Milestone Payment Within thirty (30) days following the first Patent Issuance, Eton shall give written notice to Imprimis and shall pay to Imprimis a non-refundable and noncreditable payment of fifty thousand dollars ($50,000).

Time is Money Join Law Insider Premium to draft better contracts faster.