Payment Triggering Event definition

Payment Triggering Event is defined in Section 2.1(b).
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Payment Triggering Event means the actual receipt by the Rights Agent or the Company following the Record Date of: (i) any cash payment pursuant to a Disposition Agreement, (ii) Net Cash (as defined in the Business Combination Agreement) over $1,000,000 immediately following the Closing Date, (iii) any cash received by the Company under the Asset Purchase Agreement (net of indemnity claims, if any), and (iv) the excess, if any, by which the Interim Operating Amount exceeds the Incurred Fees under Section 4.4(c).
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Payment Triggering Event means the first to occur of (1) a Qualified Financing that does not result in the issuance of any equity awards pursuant to Section 3(a)(iii), and (2) the date of a Change of Control pursuant to Section 6(d) of this Agreement. “Qualified Financing” means any transaction or series of related transactions involving the issuance of equity securities (including any securities that are convertible into or exercisable for equity securities) resulting in gross cash proceeds of $10,000,000 or more.
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Examples of Payment Triggering Event in a sentence

  • Any continuation of benefits portion of the Change of Control Payment commences upon the Payment Triggering Event and extends for the time period defined under the Change of Control Payment.

  • Any cash portion of the Change of Control Payment payable under this Agreement is payable in a lump sum in cash, of which one-half is payable within thirty (30) days following the Payment Triggering Event and the balance is payable upon the earlier of six (6) months following the Payment Triggering Event or the death of the Employee.

  • The amount of liquidated damages in this subsection (ii) is so fixed and agreed upon because of the impracticability and difficulty in fixing and ascertaining the actual damages that the Buyer would sustain in the event of a termination of the Wyeth License Agreement by the Contract Party thereto as a result of an Accelerated Payment Triggering Event.

  • For clarity, only one Additional Purchase Price Payment shall be due hereunder with respect to each Payment Triggering Event; no Additional Purchase Price Payment shall be payable for subsequent or repeated achievements of any Payment Triggering Events.

  • Unless approved by the Special Committee, the Company shall not grant any lien, security interest, pledge or similar interest in: (x) any Payment Amounts or proceeds from any Disposition or other Payment Triggering Event during the Term, or (y) any Legacy Assets during the Disposition Period.

  • Therefore, if Lilly has not made a particular payment under Section 6.6(a) as to a discontinued Development Compound, Lilly shall be required to make such payment, subject to occurrence of the related Payment Triggering Event, as to the substitute Development Compound.

  • Any cash portion of the Change of Control Payment payable under this Agreement is payable in a lump sum in cash, of which one-half is payable within thirty (30) days following the Payment Triggering Event and the balance is payable upon the earlier of twelve (12) months following the Payment Triggering Event or the death of the Employee.

  • All Reimbursement Payments payable by Lilly to ICAgen hereunder shall be made within thirty (30) business days following achievement of the Payment Triggering Event as set forth in Section 6.6(a).

  • Without limiting the generality of the foregoing, if the Termination Payment becomes due and payable pursuant to this Agreement, the Termination Payment shall be deemed to be principal of the applicable Loans and Obligations under this Agreement and interest shall accrue on the full principal amount of such Loans (including the Termination Payment) from and after the Termination Payment Triggering Event.

  • Each Termination Payment shall be deemed earned in full immediately and automatically upon such Lender executing this Agreement, and shall be paid in cash immediately upon the occurrence of any Termination Payment Triggering Event.


More Definitions of Payment Triggering Event

Payment Triggering Event means the events identified in Section 6.6. For purposes of this definition, the term “[**]” in Section 6.6 means [**] as defined [**].
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Payment Triggering Event means the actual receipt by the Company or one or more of the Company’s Affiliates following the Record Date of any cash payment made by Celgene pursuant to the TIGIT License Agreement and in respect of any and all of the following: (i) each of the applicable milestone events set forth in Paragraph 2 (Approval Milestones) and Paragraph 3 (Sales Milestones) of Exhibit C-3 of the TIGIT License Agreement or (ii) royalty obligations set forth in Paragraph 4 (Royalties for Licensed Products (and not Diagnostic Products)) or Paragraph 5 (Royalties for Diagnostic Products) of Exhibit C-3 of the TIGIT License Agreement; provided, however, that in no event shall the receipt by the Company or one or more of its Affiliates of (a) the upfront fee payable by Celgene upon the exercise of the Celgene Option pursuant to Paragraph 1 (Upfront Fee) of Exhibit C-3 of the TIGIT License Agreement, (b) any payment in respect of Milestone (1) as defined in ▇▇▇▇▇▇▇▇▇ ▇ (▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇) of Exhibit C-3 of the TIGIT License Agreement, or (c) any reimbursement of costs or expenses, research and development funding, defense costs or other amounts paid other than pursuant to the financial terms identified in clauses (i) and (ii) of this definition, constitute a Payment Triggering Event.
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Payment Triggering Event means the actual receipt by the Rights Agent or the Company following the Record Date of:
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Payment Triggering Event means the achievement of any Milestone.
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Payment Triggering Event means any of the Termination of Employment, death or Disability of a Participant.
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Related to Payment Triggering Event

  • Subsequent Triggering Event means any of the following events or transactions occurring after the date hereof: (i) The acquisition by any person (other than Grantee or any Grantee Subsidiary) of beneficial ownership of 25% or more of the then outstanding Common Stock; or (ii) The occurrence of the Initial Triggering Event described in clause (i) of subsection (b) of this Section 2, except that the percentage referred to in clause (z) of the second sentence thereof shall be 25%.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Company Triggering Event shall be deemed to have occurred if: (a) the Company shall have made a Company Board Adverse Recommendation Change; (b) the Company Board or any committee thereof shall have publicly approved, endorsed or recommended any Acquisition Proposal; or (c) the Company shall have entered into any letter of intent or similar document relating to any Acquisition Proposal in violation of the terms of the Agreement.

  • Triggering Event II means the date on which the Common Share Price is greater than $15.50 after the Closing Date, but within the Earn Out Period.

  • Triggering Event means any Section 11(a)(ii) Event or any Section 13 Event.