Examples of Milestone Closing in a sentence
In the event that the Milestone Closing does not occur prior to September 15, 2020 (eighteen (18) months following the Initial Closing (as defined in the Purchase Agreement), then the Milestone Option Grant shall be forfeited in its entirety.
To avoid doubt, if the Milestone Closing has not occurred, the vesting of the shares subject to the Milestone Option Grant shall not be subject to acceleration as described in the preceding sentence.
All corporate and other proceedings in connection with the transactions contemplated at the U.S. Milestone Closing and all documents incident thereto shall be reasonably satisfactory in form and substance to Schering and Schering's counsel, and they shall have received all such counterpart original and certified or other copies of such documents as they may reasonably request.
Schering shall have received from counsel for the Company an opinion addressed to Schering substantially covering the matters set forth in Sections 2.1, 2.2, 2.3 (as to the due authorization, valid issuance, full payment and nonassessability of the Shares to be purchased at the EU Milestone Closing), 2.12, 2.13 and 2.14 (as to federal law).
The Chief Executive Officer of the Company shall deliver to Schering at the U.S. Milestone Closing a certificate certifying that the conditions specified in Sections 4.2(a), 4.2(b), and 4.2(c) hereof have been fulfilled and stating that there has been no Material Adverse Change in the Company since the Initial Closing.