Common use of Electronic Copy Clause in Contracts

Electronic Copy. The parties to this document agree that a copy of the original signature (including an electronic copy) may be used for any and all purposes for which the original signature may have been used. The parties further waive any right to challenge the admissibility or authenticity of this document in a court of law based solely on the absence of an original signature. The parties execute this Agreement in duplicate originals by their duly authorized officers or representatives. Signature: Name: Title: Date: Signature: Name: Title: Date: Company viability Financing Management team Manufacturing & operations (build facility or outsource manufacturing) Relationships with suppliers, customers, strategic partners Development Operational prototype Qualification or reliability Telecom: lab trial, field trial Animal studies Government approval FDA: NDA, Phase I, Phase II, etc. Broad commercialization Licensed Product available for sale First sale Net Sales (alternative; ramping annual minimums) Multiple customers 1. has already provided Stanford a preliminary business plan. By , ***** will provide Stanford a detailed document covering *****'s plans as to projected product development, markets and sales forecasts, manufacturing and operations, and financial forecasts until at least $X,000,000 (“Business Plan”). Stanford will treat this Business Plan as confidential information and to protect it as Stanford would its own confidential information. 2. By , ***** will have $X,000,000 of available non-contingent, operating capital to proceed with the exploration and development of Licensed Product. Capital will be from a third party who may or may not be an investor in ***** and unused capital will be on deposit in a financial institutional acceptable to both Stanford and *****. 3. By , ***** will provide to Stanford a listing of the management team or a schedule for the recruitment of key management positions. 4. By , ***** will make a prototype/ begin animal studies. 5. By , ***** will file an NDA, Phase I, Phase II, etc. 6. By , ***** will have a first sale of Licensed Product. 7. or a sublicensee must sell at least 1 Licensed Product every 6 months after the date of first sale of a Licensed Product. 8. By , ***** will reach annual Net Sales of at least $X,000,000. 9. By , ***** will obtain purchase orders from at least 2 customers. 10. By , ***** will reach annual Net Sales of at least $XX,000,000. 11. By , ***** will reach annual Net Sales of at least $XXX,000,000.