Milestone 3. As regards profits deriving from the technological development performed by THE COMPANY after the first field trial of the crop of commercial interest has ended, *** % of the profits correspond to the COMPANY and the remaining ***% to CONICET and UNL in equal shares, that is to say, a ***% for CONICET and ***% for UNL. The Parties agree that the percentages of their share in the Gross Profits are determined in each case according to the Milestone in which the crop is at the moment in which each new profit is accrued. Thereby, the share percentage in each crop will vary as THE COMPANY contributes with the technological development and the corresponding Millstones. THE COMPANY may request from CONICET and UNL the execution of additional activities that promote the development of the New Technology and the corresponding Milestones, and in those cases it must measure and agree on an additional participation in the Gross Profits or another compensation beforehand with CONICET and /or UNL, according to the scope and importance of the contributions made, in accordance with the SECOND provision. Also, the Parties state that with respect to the implementation of the New Technology in soybean, corn and wheat they are in Milestone 3. However, THE COMPANY will remunerate with an additional ***% added to the benefit set forth in Milestone 3 in the soybean, corn and wheat crops for CONICET and UNL ***% each) for the contributions made to the moment for the development of the technology. Notwithstanding the provisions of this article, both CONICET and UNL shall acknowledge, according to their internal regulations, the right of the intervening teachers and researchers to have a share of profits. THE COMPANY shall not be held liable, in any case, for the payment of royalties or any other kind of compensation to the intervening teachers or researchers with regard to the profits earned from the commercialization or exploitation of the New Technology or Patent Applications.
Milestone 3. Within a period not exceeding ten (10) days following STRATEC’s provision of the first version of the Hardware Design Specification Documents QUOTIENT shall complete the review of these documents and (i) provide STRATEC with the signed Hardware Design Specification Documents resulting in meeting Milestone 3, or (ii) provide STRATEC with detailed written report on request of adaptation. If QUOTIENT sends such a written report within the above timeframe both parties shall have the obligation to find a mutual agreement on the Hardware Design Specification Documents within 20 days. If QUOTIENT agrees to the Hardware Design Specification Documents and sends a signed version to STRATEC or fails to send a written report on change requests within the said period of ten (10) days STRATEC shall be allowed to invoice QUOTIENT for the amount due. QUOTIENT shall remit Payment to STRATEC within thirty (30) days of receipt of the invoice. If no agreement on the Hardware Design Specification Documents within the above timeframe can be achieved between the Parties, this issue shall be brought to the Steering Committee for a decision which the Steering Committee shall reach within ten (10) business days.
Milestone 3. Within a period not exceeding forty (45) days following QTX’s receipt of the first LSR Instrument Prototype QTX shall (i) complete testing in accordance with the Acceptance Criteria attached hereto as Exhibit 1, and provide STRATEC with a written statement confirming that such Acceptance Criteria (Milestone 3) have been met, or (ii) provide STRATEC with detailed written deviation report. If QTX declines STRATEC’s achievement of the agreed upon Acceptance Criteria, then QTX shall not be required to make any further payments until the LSR Instrument Prototype meets the Acceptance Criteria. If the LSR Instrument Prototype does not meet the Acceptance Criteria within seventy five (75) days from the initial delivery to QTX, then STRATEC shall have an additional ten (10) Days to deliver a LSR Instrument Prototype that conforms with the Acceptance Criteria, after which QTX may terminate this Agreement for breach pursuant to Section 2.6(b) below (in which case the Supply Agreement shall automatically terminate), or give STRATEC such additional time as is necessary to take the steps to ensure that the LSR Instrument Prototype meets Acceptance by QTX. If QTX confirms the achievement of the Acceptance Criteria or fails to decline STRATEC’s achievement of the Acceptance Criteria within the said period of forty five (45) days STRATEC shall invoice QTX for the amount due and shall be entitled to receive the Warrants as set forth above. QTX shall remit Payment and issue the Warrants earned to STRATEC within thirty (30) days of receipt of the invoice and provide an enforceable document evidencing the Warrants earned.
Milestone 3. (a) As soon as practicable after Milestone 3 has been achieved, the Buyer must give written notice to the Sellers to that effect (Milestone 3 Trigger Notice), and the Buyer must, subject to clause 7.10, either:
(i) issue the Milestone 3 Trigger Shares in accordance with clause 7.7; or
(ii) pay the Milestone 3 Trigger Cash Payment in accordance with clause 7.9, as determined by the election of the Buyer in clause 7.6(c).
(b) Subject to clause 7.10, as soon as practicable after a Capital Raising Announcement with respect to each Capital Raising after the Milestone 3 Trigger Date, the Buyer must give written notice to the Sellers setting out the consideration payable to the Sellers for that Capital Raising (Capital Raising Notice), and Buyer must either:
(i) issue the Capital Raising Shares in relation to that Capital Raising in accordance with clause 7.7; or
(ii) pay the Capital Raising Cash Payment in relation to that Capital Raising in Accordance with clause 7.9, as determined at the election of the Buyer in accordance with clause 7.6(c).
(c) Within 5 Business Days of the Milestone 3 Trigger Notice, the Buyer must elect to pay the Milestone 3 Consideration either by way of shares or cash and must give notice of such election to the Sellers (Election Notice).
Milestone 3. At such time as the VideoFusion Employees integrate Radius' 4EA technology into VideoFusion Andretti in accordance with mutually agreed upon written specifications delivered at or before the Closing ("MILESTONE 3"), Radius will issue and deliver $1,684,600 in shares of Radius Common Stock valued at the Milestone Valuation. However, such $1,684,600 amount shall be reduced by $21,058 for each week, or portion thereof, that the completion of Milestone 3 is delayed beyond the date that is six (6) months after completion of Milestone 2. In no event, however, shall the total value of the shares of Radius Common Stock issued in the Initial Payment (based on a per share value of $6.75) plus the total value of the shares of Radius Common Stock issued upon completion of Milestone 3 (based on a per share value at the Milestone Valuation) plus the dollar amount of the Net Value adjustment made under Section 1.1.3 exceed $4,211,500.
Milestone 3. Pilot Bus 1 First Article Inspections (FAI) shall be conducted within 26 weeks from the NTP.
Milestone 3. As soon as possible following delivery of the Financial Model pursuant to Milestone 2, the Borrower and A&M shall provide KPMG with:
(i) information and documents directly related to the preparation of the Financial Model; and
(ii) reasonable access to the Group's senior management, Group information and A&M to enable KPMG to review and analyze the Financial Model and the Group's business plan, risk management, accounting policies and 13-week cash flow forecasts as well as the inter-relationship between Eagle Chartering, the rest of the Group and Delphin Shipping LLC and, when delivered, deleveraging plan or other restructuring proposals. A list of specific questions or topics to be discussed with senior management shall be provided to the Borrower as far as possible in advance of any meeting or discussion.
Milestone 3. Licensee shall complete (i.e., dosing of final patient and data lock) Phase II Clinical Trials for at least one Licensed Product within the Field on or before twenty-four (24) months from the completion of Phase I; and
Milestone 3. Within twelve (12) months of contract award the Contractor shall provide the USG with the following, as appropriate for the antiviral drug(s) being developed. A feasibility plan comprehensive of all antiviral drug descriptions and studies for U.S. licensure as follows:
(a) Mechanism of action, antiviral activity in vitro, and resistance studies such as drug resistance and cross resistance, immune response.
(b) Pharmacokinetics studies like drug absorption and bioavailability, distribution, metabolism, elimination,
Milestone 3. [USD/EURO/OMR value] in PFD Credits (100% of the total obligation) to be achieved by the end of Year 8 following the date of the Contract. ……………………………………….. For and on behalf of ……………………………………….. For and on behalf of Applicable Contract / Supplemental Agreement: Date of Corporate Guarantee: [DATE] Maximum principal liability under Corporate Guarantee: [amount in contract currency] Applicable Contract / Supplemental Agreement: Date of Bank Guarantee (if applicable): [DATE] Maximum principal liability under Bank Guarantee: currency] Corporate Guarantee [INSERT NAME OF PARENT OR OTHER GROUP GUARANTOR OF CONTRACTOR] as Guarantor [INSERT NAME OF CONTRACTOR] as Contractor and THE OMANI AUTHORITY FOR PARTNERSHIP FOR DEVELOPMENT as Authority relating to the guarantee of the Contractor’s payment obligations under the Partnership for Development Agreement dated [insert date] as amended and supplemented by the Supplemental Agreement dated [insert date].
1. Definitions and Construction 2 2. Guarantee and Indemnity 2
