Milestones

Milestones. (iii) Subject to Section 1.3(d) below, (A) [***] shares of Series A Preferred Stock at the Purchase Price on the certification by the Board (as confirmed by ATAI, which confirmation not to be unreasonably withheld) that the events specified under "Milestone 3 First Tranche" in Exhibit I have occurred ("Milestone 3 First Tranche"), (B) [***] shares of Series A Preferred Stock at the Purchase Price on the certification by the Board (as confirmed by ATAI, which confirmation not to be unreasonably... withheld) that the events specified under "Milestone 3 Second Tranche" in Exhibit I have occurred ("Milestone 3 Second Tranche") and (C) [***] shares of Series A Preferred Stock at the Purchase Price on the certification by the Board (as confirmed by ATAI, which confirmation not to be unreasonably withheld) that the events specified under "Milestone 3 Third Tranche" in Exhibit I have occurred ("Milestone 3 Third Tranche", collectively with Milestone 3 First Tranche and Milestone 3 Second Tranche, "Milestone 3"; and, Milestone 3 together with Milestone 1 and Milestone 2, the "Milestones"); provided however, ATAI shall have the right, but not the obligation, to make payment for up to [***] of the Milestone Shares at any time upon notice to the Company, irrespective of the achievement of any Milestone and, upon such payment, the Company shall instruct the Escrow Agent to release to ATAI the corresponding number of Escrow Shares. For the avoidance of doubt the Parties hereby acknowledge and agree that the issuance of any additional shares directly, or upon conversion of the Convertible Notes (as hereinafter defined), associated with any Additional Funding (as hereinafter defined) would be effected without prejudice or detriment to the Second Warrant or the shares of Series A Preferred Stock issued pursuant thereto. View More

Milestones. Means the objectives identified as "milestones" in the Statement of Work.

Milestones. The meaning set forth in §2.1(a) of this Agreement

Milestones. The Development Program First Milestone and Second Milestone, as currently set forth in Exhibit 2.1, subject to Sections 2, 3, 14, and 16

Milestones. Any of the following milestones, which on and after the Support Effective Date, the Company shall implement the Restructuring Transaction in accordance therewith: i. as soon as reasonably practicable, but in no event later than five (5) days after the Petition Date, the Bankruptcy Court shall have entered the Interim DIP Order; ii. as soon as reasonably practicable, but in no event later than thirty-five (35) days after the Petition Date, the Bankruptcy Court shall have entered... the Final DIP Order; iii. as soon as reasonably practicable, but in no event later than seventy-five (75) days after the Petition Date, the Company shall have filed with the Bankruptcy Court the Plan and the Disclosure Statement; iv. as soon as reasonably practicable, but in no event later than one hundred and fifty (150) days after the Petition Date, the Bankruptcy Court shall have entered the Confirmation Order, provided that such Milestone shall automatically be extended to two hundred and forty (240) days after the Petition Date in the event that the Maturity Date (as defined in the DIP Credit Agreement) is extended to the date that is nine (9) months after the Petition Date in accordance with the terms in the DIP Credit Agreement; and v. as soon as reasonably practicable, but in no event later than one hundred and sixty-five (165) days after the Petition Date, the Effective Date shall have occurred, provided that such Milestone shall automatically be extended to two hundred and fifty-five (255) days after the Petition Date in the event that the Maturity Date (as defined in the DIP Credit Agreement) is extended to the date that is nine (9) months after the Petition Date in accordance with the terms in the DIP Credit Agreement (the "Effective Date Milestone") View More

Milestones. Shall have the meaning given to that term in Schedule 1

Milestones. Means, collectively, the following two milestone events, the completion of which shall be a condition to the Milestone Closing (as defined below): (i) the successful registration and listing under 21 CFR part 807 with the FDA of Zylox and one of its designated Affiliates as a manufacturer of the Pantheris Series and a Zylox establishment for purposes thereof, as reflected in the FDA’s Establishment Registration & Device Listing database; and (ii) the achievement by the Company of an aggregate... of $10 million in gross revenue within any four consecutive fiscal quarters after the Initial Closing Date, excluding any gross revenue achieved by the Company under the License Agreement, as reflected in the Company’s financial statements for such four consecutive quarters that have been prepared in accordance with the U.S. GAAP consistent with past practices, audited or reviewed by the Company’s independent registered public accounting firm. View More