Examples of Target Valuation in a sentence
For clarity, upon occurrence of event 4.1(a) or 4.1(b), no further action or authorization shall be required for the Administrator to cause an Achievement of a Target Valuation Milestone and the consequences thereof.
If the conditions for earning a Bonus Payment set forth in the Plan are satisfied, including the requirement that the Participant must execute and allow to become effective a Release as provided in Section 8, each Participant will be entitled to be paid his or her Bonus Payment not later than the 30th day after the date of the Achievement of Target Valuation Milestone, subject to the provisions of Section 4.
Promptly following the Achievement of a Target Valuation Milestone, the Company shall furnish to each Participant a general release of claims in substantially the form of Exhibit A (a “Release”).
Confidential — – $10.00 $20.00 $30.00 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Outlook Target Valuation Operating Metrics 2022E '20A-'22E % Prem.
The Target Valuation and the Purchase Consideration are based on the following conditions, and the Target Company and the Founder jointly covenant and confirm that, at the Closing, (i) the Group Companies will be free of any debts, including debts owed to the Selling Shareholders or their Affiliates or related parties except as disclosed in the Disclosure Schedule, and (ii) the Group Companies will have at least US$230,000 of working capital or cash in bank accounts.
The actual amount of the Bonus Payment each Participant (other than the Chairman, President and CEO) is eligible to receive will be determined by the Administrator taking into account the recommendation of the CEO at each time of an Achievement of a Target Valuation Milestone.
The Target Valuation means either of the following: (i) the highest pre-money equity valuation of the Target Company in a Qualified Funding, or (ii) if Target Company shall not have completed a Qualified Funding prior to the Closing, US$20.0 million.
The Conversion Ratio determined in accordance with the provisions of Section 2(f)(i) and (ii) and the applicable Total Target Valuation shall be further adjusted downward by the greater of the percentage that Initial Closing Statement Revenues or Initial Closing Statement Income are less than 80% of the Target Projected Revenues and Target Projected Income, respectively.
The actual amount of the Bonus Payment each Participant (other than Independent Directors and the Chairman, President and CEO) is eligible to receive will be determined by the Administrator taking into account the recommendation of the CEO at each time of an Achievement of a Target Valuation Milestone.
Following the $6.00 Average Closing Bid Price example provided in Section 2(f)(ii) above, if the Initial Closing Statement Revenues and the Initial Closing Statement Income are 15% and 20% less than 80% of the Target Projected Revenues and the Target Projected Income, respectively, then the Conversion Ratio shall be reduced by 20% to .236068, which will provide a Total Target Valuation of $13,999,998, based upon up to 2,333,333 Buyer Shares being issued.