Second Adjustment Date means the earlier of (i) the date that is twelve (12) months after the Effective Date, or (ii) provided that Borrower is in compliance with the terms and provisions of this Agreement and no Event of Default or Unmatured Event of Default shall exist, the date selected by Borrower by written notice to Administrative Agent. Any such election by Borrower shall be irrevocable.
Second Adjustment Date means the date on which the Company achieves Product Sales Revenues equal to or exceeding $15 million for the trailing 12 month period.
Second Adjustment Date shall have the meaning ascribed to such term in Section 1.04(b);
Examples of Second Adjustment Date in a sentence
As consideration for transfer of the Company’s Shares to IMC and the payments referred to in Clause 2.1.3, IMC will issue and allot to MVI, free and clear of all Encumbrances, subject only to Clause 11.2, and credited as fully paid the Initial Consideration Shares and, subject to the occurrence of the First Adjustment Date and the Second Adjustment Date, the First Additional Consideration Shares and the Second Additional Consideration Shares respectively.
The notification of the occurrence of an Additional Consideration Shares Event has to be made in writing and at the latest within three Business Days following the First Adjustment Date or the Second Adjustment Date, as the case may be.
More Definitions of Second Adjustment Date
Second Adjustment Date means the date on which the Second Adjustment Period ends;
Second Adjustment Date means a date after the First Adjustment Date that is the earliest of (1) the date that is the fortieth (40th) Trading Day immediately following the date that all Registrable Securities and the Adjustment Shares are registered pursuant to an effective Registration Statement that is available for the resale of all such Registrable Securities and Adjustment Shares, (2) the date that is the twentieth (20th) Trading Day immediately following the date that such Buyer can sell all of the Registrable Securities and the Adjustment Shares without restriction or limitation pursuant to Rule 144, (3) the date that is the twentieth (20th) Trading Day immediately following the date that such Buyer can sell all of the Registrable Securities and the Adjustment Shares without restriction or limitation pursuant to Rule 144 and without the requirement to be in compliance with Rule 144(c)(1) and (4) the date that is the twentieth (20th) Trading Day immediately following the date that is one (1) year immediately following the Closing Date.
Second Adjustment Date has the meaning set forth in Section 6(a)(iii) hereof.
Second Adjustment Date means a date after the First Adjustment Date that is the earliest of (1) the date that is the twenty first (21st) Trading Day immediately following the date that some or all of the Registrable Securities have become registered pursuant to an effective Registration Statement, (2) the date that is the twenty first (21st) Trading Day immediately following the date that such Buyer can sell all of the Registrable Securities without restriction or limitation pursuant to Rule 144, (3) the date that is the twenty first (21st) Trading Day immediately following the date that is one (1) year immediately following the Closing Date.
Second Adjustment Date means the date that is thirty (30) days following the First Adjustment Date (or if such date is not a Trading Day, the Trading Day immediately preceding such date).
Second Adjustment Date means the earlier of (1) the date that all Registrable Securities and the Adjustment Shares are registered pursuant to an effective Registration Statement that is available for the resale of all such Registrable Securities and Adjustment Shares (2) the date that such Buyer can sell all of the Adjustment Shares pursuant to Rule 144 and (3) the one (1) year anniversary of the Closing Date (the earliest of (1), (2) and (3), the “Second Trigger Date”); (x) “Second Adjustment Price” means eighty five percent (85%) of the eight (8) lowest Weighted Average Prices of the Common Stock during the twenty (20) Trading Days immediately following the fifth (5th) Trading Day after the Second Trigger Date (as adjusted for stock splits, stock dividends, recapitalizations, reorganizations, reclassification, combinations, reverse stock splits or other similar events during such period), (y) the “Third Adjustment Date” means the one (1) year anniversary of the Closing Date; and (z) “Third Adjustment Price” means eighty five percent (85%) of the eight (8) lowest Weighted Average Prices of the Common Stock during the twenty (20) Trading Days immediately following the fifth (5th) Trading Day after the one (1) year anniversary of the Closing Date (as adjusted for stock splits, stock dividends, recapitalizations, reorganizations, reclassification, combinations, reverse stock splits or other similar events during such period).
Second Adjustment Date means the date described in Section 2.02(b) on which the purchase price is adjusted.